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Conditional allocation of control rights in venture capital finance

Gebhardt, Georg; Schmidt, Klaus M. - 2006

When a young entrepreneurial firm matures, it is often necessary to replace the founding entrepreneur by a professional manager. This replacement decision can be affected by the private benefits of control enjoyed by the entrepreneur which gives rise to a conflict of interest between the...

Persistent link: https://www.econbiz.de/10003368126

Product Market Characteristics and the Choice between IPOs and Acquisitions

Chemmanur, Thomas J. - 2018

Using unique U.S. Census data sets, we analyze how entrepreneurial firms' product market characteristics affect their choice between going public, being acquired, or remaining private. Size, total factor productivity (TFP), sales growth, capital expenditure, market share, access to private...

Persistent link: https://www.econbiz.de/10012940674

Kill zones? : effects of big tech start-up acquisitions on innovation : paper prepared for presentation at the International Telecommunications Society (ITS) Biennial Conference Go...

Prado, Tiago S. - 2021

research has found a strong positive, causal relationship between VC investment and innovation. Using this insight, we can …

Persistent link: https://www.econbiz.de/10012805979

The evolution of CEO compensation in venture capital backed startups

Ewens, Michael; Nanda, Ramana; Stanton, Christopher - 2020

We document new facts on the evolution of founder-CEO compensation in venture capital-backed startups. Having a tangible product (“product market fit”) is a fundamental milestone in CEOs' compensation, marking the point where liquid cash compensation increases significantly – well before...

Persistent link: https://www.econbiz.de/10012244212

Risk management in the venture capital industry : managing risk in portfolio companies

Proksch, Dorian; Stranz, Wiebke; Pinkwart, Andreas; … - In: Journal of entrepreneurial finance : JEF ; official … 18 (2016) 2, pp. 1-33

structural equation model. We showed that the experience and the skills of the corresponding investment manager have a … significant negative impact on the failure risk of a venture. Investment manager´s experience and skills were measured by the … the selection of the investment manager for risk management in venture capital investments. …

Persistent link: https://www.econbiz.de/10011992186

The Unicorn Puzzle

Davydova, Daria; Fahlenbrach, Rüdiger; Sanz, Leandro; … - 2023

From 2010 to 2021, 639 US VC-funded firms achieved unicorn status. We investigate why there are so many unicorns and why controlling shareholders give investors privileges to obtain unicorn status. We show that unicorns rely more than other VC-funded firms on organizational capital as well as...

Persistent link: https://www.econbiz.de/10014236270

Does a VC’s Commitment Lead to Improved Investment Outcomes? Evidence From Climate Startups

Burt, Aaron; Harford, Jarrad V. T.; Stanfield, Jared R.; … - 2022

We assess whether a VC’s intrinsic commitment to a startup affects investment performance. We proxy for climate change … patents following the VC investment. For identification, we use recent local climate-related natural disasters as a proxy for …

Persistent link: https://www.econbiz.de/10014236837

Chapter 14. The Financing of R&D and Innovation

Hall, Bronwyn H.; Lerner, Josh - 2010

Evidence on the “funding gap” for investment innovation is surveyed. The focus is on financial market reasons for …

Persistent link: https://www.econbiz.de/10014025162

Investor tax breaks and financing for start-ups : evidence from China

Güçeri, İrem; Hou, Xipei; Xing, Jing - 2024

deduction for qualified angel and VC investment in China as a quasi-natural experiment. We find that the tax incentive increases … substitution between eligible and non-eligible investments. There is no evidence that the tax incentive lowers investment quality …

Persistent link: https://www.econbiz.de/10014564279

The impact of public subsidies on venture capital investments in start-up enterprises

Schertler, Andrea - 2000

start-up enterprises if future losses of the start-up investment are partly covered by the government. …

Persistent link: https://www.econbiz.de/10011473820