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A Note on the Use of Debt by Venture Capital Backed Firms

Mull, Rick H.; Winters, Drew B. - In: Journal of Entrepreneurial and Small Business Finance 5 (1996) 3, pp. 287-293

Much of the current research regarding the venture capitalist examines samples of venture capital (VC) backed firms rather than the venture capitalist itself. While VC backed firms may represent the most reasonable proxy available for the study of the venture capitalist, consideration of...

Persistent link: https://www.econbiz.de/10011310371

Venture Financing and Role of Certification: A Theoretical Perspective

Yazdipour, Rassoul - In: Journal of Entrepreneurial Finance 6 (2001) 1, pp. 156-160

This paper attempts to extend the Certification Paradigm--mainly used in the literature as an explanation for IPO underpricings--to provide guidelines to entrepreneurs in their efforts to secure funding for new ventures. After extending the model to cases of pre-venture-capital start-up firms,...

Persistent link: https://www.econbiz.de/10011310380

Importance of the non-financial value added of government and independent venture capitalists

Luukkonen, Terttu; Deschryvere, Matthias; Bertoni, Fabio; … - 2011

This paper compares the post-investment value-added activities performed by governmental venture capital (GVC) and … investment profiles of these investors might have on the forms of value added. The study uses a unique data set based on a survey … attention to potential adverse effects of the post-investment engagement of the investors on the firm. Using a composite …

Persistent link: https://www.econbiz.de/10010326858

Financing technology-based small firms in Europe: A review of the empirical evidence

Revest, Valérie; Sapio, Sandro - 2009

This paper reviews the evidence on financing technology-based small firms (TBSFs) in Europe. The main findings in the literature are the 1) European TBSF's finance new investments by relying primarily on internal funds, due to capital market failures induced by asymmetric information; 2)...

Persistent link: https://www.econbiz.de/10010328394

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/10010333842

Early-stage financing and firm growth in new industries

Inderst, Roman; Müller, Holger - 2009

” early on, resulting in long-run differences in investment, profits, and firm growth. The value of active investors is …

Persistent link: https://www.econbiz.de/10010368572

Owner-manager replacement: a venture capitalist decision model

Cressy, Robert - In: Journal of Global Entrepreneurship Research 2 (2014) 1, pp. 1-10

return to professional replacement, the cost of investment and the costs of monitoring manager performance. Replacement is …

Persistent link: https://www.econbiz.de/10011656421

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

Proksch, Dorian; Stranz, Wiebke; Pinkwart, Andreas; … - In: The Journal of Entrepreneurial Finance (JEF) 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/10012012678

Does Early Incubating Improve the Performance of Start-ups?: Evidence from TIPS in Korea

Koo, Ja Hyun - In: KDI Journal of Economic Policy 40 (2018) 2, pp. 75-96

influence follow-up investment in start-ups. In addition, this study finds that with a younger CEO of a start-up, it is more …

Persistent link: https://www.econbiz.de/10012034832

Venture Capital Investment and Labor Market Performance : New Empirical Evidence for OECD Countries

Belke, Ansgar; Schaal, Andreas - 2004

Anglo-Saxon countries have been successful in the 1990s concerning labor market performance compared to the former role models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial markets with bank-based financial markets as in Germany...

Persistent link: https://www.econbiz.de/10010262178