Jungwirth, Carola; Moog, Petra - Institut für Strategie und Unternehmensökonomik … - 2003
Venture capitalist are intermediaries with strong advantages in financing risky investments (Leland/Pyle 1977, Chan 1983, Diamond 1984; Bygrave 1988). Being specialized in one industry, venture capitalists can control risk at lower cost compared to other players in the market (e.g. banking houses)...