Purpose In the practice of venture capital investment, the venture capital will not only claim the share of the enterprise’s future output, but also a certain amount of fixed income. The purpose of this paper is to examine the optimal contract which blends the variable ownership income and the...

Purpose – This paper aims to identify the effectiveness of private equity and venture capital (PE/VC) funds in promoting best practices of corporate governance in small and medium enterprises (SMEs) committed to PE/VC partnerships, in an institutional environment characterized by ownership...

Purpose – How does venture capital (VC) emerge in emerging and developing economies? This paper aims to use case data from an early Russian VC fund to extend a previous model exploring that question. Design/methodology/approach – Case studies of VC emergence from South Africa, Botswana, and...

Abstract Venture capital is certainly important to a country in that it finances entrepreneurship and innovation. In recent years, secondary markets for private shares have emerged as an important node in the VC cycle by both facilitating interim liquidity for non-listed firms and providing...

Zusammenfassung Fragestellung des Papieres ist, ob junge Unternehmen durch die Inanspruchnahme einer Beteiligungsfinanzierung (Untersuchungsgruppe) eine bessere unternehmerische Performance erzielen können im Vergleich zu einer „repräsentativen" Menge von nicht mit Beteiligungskapital...

Purpose – The purpose of this paper is to build a theory of joint venture formation and instability based on synergy and monitoring. Design/methodology/approach – This problem is formulated as a dynamic game and solved using the notion of subgame perfect Nash equilibrium. Findings – It was...

As the venture capital industry matures and competition increases, understanding the processes by which entrepreneurs select venture capitalists will become increasingly important. Empirical work suggests that awareness of venture capital firms is still low and that the specialist financial and...

Provides evidence on the capital search process by entrepreneurial managers, focusing on the means by which managers undertaking management buy‐outs and buy‐ins identify and select professional intermediaries and venture capitalists. Discusses the marketing implications of the study’s...

This paper provides an exploratory examination of the growing phenomenon of secondary management buy‐outs and buy‐ins, where an enterprise having initially been bought out by management is later the subject of a second buy‐out or buy‐in. Such transactions provide a further dimension to...

Purpose – To explore the demand and supply of private capital for successful women entrepreneurs in New Zealand. To obtain and interpret fine‐grained information in order to mitigate the research gap on growth finance for women‐led businesses in New Zealand. Design/methodology/approach –...