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Since 1984 Informal Venture Networks (VCNs) have been formed and are currently operating in several states and Canada. However, little has been written in regard to the performance of these networks. This article presents the results of preliminary research concerning their performance. Our...
Persistent link: https://www.econbiz.de/10011310291
The research in small firms financing is characterized by a lack of a theoretical framework. One basic assumption in this study is that agency theory can provide an essential framework to explain the interaction between informal and formal venture capitalists and their portfolio firms. Five...
Persistent link: https://www.econbiz.de/10011310320
The stock market return and the risk of 33 quoted European venture capital companies during the period 1977-1991 are … significantly lower than zero. When interpreting these results, one has to take into account that most shares of venture capital … can expect in the future, may be higher than in the past. Venture capital companies that are specialized in a specific …
Persistent link: https://www.econbiz.de/10011310331
option intensive private firms with acute capital requirements to interact, the gains each group achieves through this … association, the types of private firms successfully attracting venture capital, and mechanisms used in this funding process …. Results show that venture capital backed firms achieve growth rates (1) greater than expected, and (2) greater than a matched …
Persistent link: https://www.econbiz.de/10011310341
Much of the current research regarding the venture capitalist examines samples of venture capital (VC) backed firms … conclusions. Controlling for the determinants of capital structure, we examine the persistence of previously noted differences in … capital structure choice and find that VC backing does not systematically alter the use of debt by firms. These results …
Persistent link: https://www.econbiz.de/10011310371
software industry is examined. To provide an understanding of the relationship between the suppliers of capital and the … that there are differences in the informal venture capital market among broadly defined sectors in terms of the sectors …' technology and competitive conditions and their impact on: first, the need for, and timing of, external equity capital; and …
Persistent link: https://www.econbiz.de/10011310376
to cases of pre-venture-capital start-up firms, along with the practical implications that would follow, efforts are made …
Persistent link: https://www.econbiz.de/10011310380
This study surveys the academic and professional literature examining the privatisation of state-owned enterprises (SOEs), with a focus on empirical studies. Privatisation has been instrumental in reducing state ownership in many countries and had a transforming effect on global stock markets,...
Persistent link: https://www.econbiz.de/10011608465
This study focuses on the non-financial value-added Venture Capital (VC) investors bring to their portfolio companies …
Persistent link: https://www.econbiz.de/10010285115
Conventional discussions of balance sheet management by nonfinancial firms take the set of positive net present value (NPV) projects as given, which in turn determines the size of the firm's assets. The focus is on the composition of equity and debt in funding such assets. In contrast, the...
Persistent link: https://www.econbiz.de/10010287144