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This paper presents a long overdue reassessment of entrepreneurship through acquisition (ETA). Traditionally considered … simply a niche occurrence of small company leveraged buyouts (LBO), ETA is actually a meaningful contributor to a nation … entrepreneurial intents and outcomes of ETA. By examining the theoretical streams of LBO and entrepreneurship finance in practical …
Persistent link: https://www.econbiz.de/10010343143
The working paper examines the role and development of the Central and Eastern European venture capital sector in the five years between 2016 and 2020. This period includes both the end of the recovery after the economic crisis in 2008 and the downturn due to the coronavirus crisis in 2019. A...
Persistent link: https://www.econbiz.de/10014454594
This paper presents a long overdue reassessment of entrepreneurship through acquisition (ETA). Traditionally considered … simply a niche occurrence of small company leveraged buyouts (LBO), ETA is actually a meaningful contributor to a nation … entrepreneurial intents and outcomes of ETA. By examining the theoretical streams of LBO and entrepreneurship finance in practical …
Persistent link: https://www.econbiz.de/10010762496
In late 2017, DuraTable received a number of unsolicited inquiries regarding its interest in selling out in a going private transaction, mostly from private equity firms. Since the chairman of the board and founder, Gary Reynolds, was approaching retirement age and the largest single shareholder...
Persistent link: https://www.econbiz.de/10011991223
This paper reviews the literature on the role of public equity markets in the innovation ecosystem. The review highlights the importance of public equity markets in funding the research and development activities of young and high growth firms. It also illustrates the dependence of venture...
Persistent link: https://www.econbiz.de/10011723674
We discuss how Contingent Payment Mechanisms (also known as Contingent Earn-Outs) enable of Entrepreneurial Financing decisions. First, we introduce a taxonomy of contingent payment mechanisms, by combining features regarding their term and amount. Second, we introduce each of these alternative...
Persistent link: https://www.econbiz.de/10012997493
The valuation of start-up firms is challenging, yet highly relevant for entrepreneurs and financiers alike. We reverse-engineer fair-value multiples by comparing the firm value at the time of financing with the firm value at the time of exit. Our framework produces reliable valuation multiples...
Persistent link: https://www.econbiz.de/10013243976
online database indicate that founders stick with entrepreneurship as a serial entrepreneur or as an angel investor only in …
Persistent link: https://www.econbiz.de/10011436054
The aim of this paper is to better understand how entrepreneurial equity finance interacts with the complex growth process of young technological ventures. More specially, we investigate how different growth paths are influenced by the entrepreneurs' interactions with different categories of...
Persistent link: https://www.econbiz.de/10012923432
This paper investigates the influence of social capital on young firms' financing arrangements. Using a sample of U.S. start-ups, I find that social capital, as captured by secular norms and social networks in the entrepreneur's county, increases access to outside financing and reduces reliance...
Persistent link: https://www.econbiz.de/10012827472