Using a hand-collected sample of contracts and investment proposals from German venturecapital (VC) financing relationships, we find that experienced and or private law/independentVC firms rely to a lesser degree on debt financing and more on certain covenants in VC con-tracting even when we...

Dieser Beitrag untersucht die Position von Venture Capital-Gesellschaften im jeweili-gen Syndizierungsnetzwerk und analysiert den Zusammenhang zwischen der Netz-werkposition der einzelnen Unternehmen und der Quantität und der Qualität der Investi-tionsgelegenheiten, die ihnen zur Verfügung...

We empirically validate a model primarily based on Resource Dependence Theory. Our model links task characteristics and various subordinate characteristics that represent sources of managerial dependence to the adoption of the four archetypical combinations of formal and informal control...

We empirically investigate possible reasons for successful syndications in private equity transactions. To this end, we analyze the answers of 115 private equity firms regarding relevant resources of potential syndication partners. Based on structural equation modeling we find that only three...

This paper analyzes the positions that Venture Capital firms hold in a syndication network and determines the effect that network positions have on generating deal flow quantity and quality. Using data on syndicated investments in the German venture capital market and data on the deal flow of...

We develop properties of abnormal return for equity offers that have been timed to periods of firm-specific overvaluation and empirically test a sample of 174 equity carve-outs for these characteristics. While carve-outs exhibit clear signs of market timing, these phenomena are not detectable...

Using a hand-collected sample of contracts and investment proposals from German venture capital financing relationships, we analyze specific incentive conflicts. We apply indirect and direct measures of these problems and extend the direct approach by Kaplan and Strouml;mberg (2004) to a four-...

This study seeks to understand the boundary conditions and successful application of search processes in the entrepreneurial problem space. To this end, we employ an agent-based simulation approach to formally investigate the influence of environmental isotropy, unpredictability, and goal...