uninformed bank needs an additional screening device. VC fulfils that role. …-dependent returns and reservation utility creates a situation where collateral alone is not sufficient to screen entrepreneurs, and the …

internal cash flows is greater in larger than in the smaller VC-backed SMEs. Debt is more important for smaller than for larger … flows and debt as well as the negative effect of growth opportunities on investment in both smaller and larger VC …

difficult market conditions. For bank-based systems, the question regarding which investors actually supply informed capital has … significant differences between the investors which are linked to banks and those financiers which are not. Although, the bank …

the rest must resort to standard bank finance. We consider a number of policies to promote entrepreneurship and venture …

Venture debt, or loans to rapid-growth start-ups, is a puzzle. How are start-ups with no track records, positive cash … flows, tangible collateral, or personal guarantees from entrepreneurs able to attract billions of dollars in loans each year …? And why do start-ups take on debt rather than rely exclusively on equity investments from angel investors and venture …

The paper investigates the link between bank concentration and a country's buyout market. We perform a macro level … for the size of the buyout market. The elasticity ranges from 1 up to 3 percent depending on which bank concentration … measure is employed and what segment of buyout market we look at. We also find that bank concentration is irrelevant for the …

it differs from the effect of two other important types of financial investors: banks and non-bank financial firms. We … conclusions. The shareholding by PE and bank has influence on out-performance but only if either the PE investor or the bank hold … between 75 to 100 percent of firm's shares. The direction of the effect is opposite. PE has a positive, while bank has a …