This research utilizes an institutional perspective to examine the behavior of venture capital professionals in three distinct regions of the world (Asia, U.S., Europe). Based upon a mail survey, we find reasonably consistent views around the world on the relative importance of various venture...

This paper researches the determinants of financing decisions of extreme growth companies. For this purpose, we use a longitudinal dataset, free of survivorship bias, covering the financing events of extreme growth companies for up to eight years. Results are generally consistent with the...

We investigate whether syndication networks among banks influence the financing of leveraged buyouts (LBO). We find that lead banks serve as important intermediaries between the supply (banks in an LBO loan syndicate) and demand (targets and private equity (PE) firms) sides of LBO financing....

High growth entrepreneurial companies need external financial resources as their internally generated cash flows are typically smaller than their investment opportunities, but they may be faced with finance constraints due to market imperfections, such as asymmetric information and transaction...

This paper studies how the presence of cross-border as opposed to domestic venture capital investors is associated with the growth of portfolio companies. For this purpose, we use a longitudinal research design and track sales, total assets and payroll expenses in 761 European technology...

This study explores the impact of bargaining power of venture capital (VC) firms on the valuation of their portfolio companies. We argue that VC firm types with greater bargaining power vis-à-vis the entrepreneur negotiate lower valuations compared to VC firm types with less bargaining power....

This paper examines firm-level determinants of mature firm exits after economic distress. Using nested logit models and a sample of 6,118 distress-related exits in Belgium, we analyze the type of exit that distressed firms experience. We show that 41% of the firms in our sample exit through a...