Narrow search
Showing 1 - 10 of 220,232
Cover Image
Venture capital-backed firms, unavoidable value-destroying trade sales, and fair value protections
Nigro, Casimiro A.; Stahl, Jörg R. - 2020
This paper investigates the implications of the fair value protections contemplated by the standard corporate contract (i.e., the standard contract form for which corporate law provides) for the entrepreneur-venture capitalist relationship, focusing, in particular, on unavoidable...
Persistent link: https://www.econbiz.de/10012668090
Cover Image
Do VCs use inside rounds to dilute founders? Some evidence from Silicon Valley
Broughman, Brian J.; Fried, Jesse M. - In: Journal of Corporate Finance 18 (2012) 5, pp. 1104-1120
In the bank-borrower setting, a firm's existing lender may exploit its positional advantage to extract rents from the firm in subsequent financings. Analogously, a startup's existing venture capital investors (VCs) may dilute the founder through a follow-on financing from these same VCs (an...
Persistent link: https://www.econbiz.de/10011052898
Cover Image
Can government intervention make firms more investment-ready? : a randomized experiment in the Western Balkans
Cusolito, Ana Paula; Dautovic, Ernest; McKenzie, David J. - 2020
Innovative firms with good ideas may still struggle to fine-tune them to the stage where they can attract outside funding. We conduct a five-country randomized experiment that tests the impact of an investment readiness program. Firms then pitched their ideas to independent judges. The program...
Persistent link: https://www.econbiz.de/10012200841
Cover Image
Conflicting fiduciary duties and fire sales of VC-backed start-ups
Bian, Bo; Li, Yingxiang; Nigro, Casimiro A. - 2022
This paper studies the interactions between corporate law and VC exits by acquisitions, an increasingly common source of VC-related litigation. We find that transactions by VC funds under liquidity pressure are characterized by (i) a substantially lower sale price; (ii) a greater probability of...
Persistent link: https://www.econbiz.de/10013279443
Cover Image
The New Exit in Venture Capital
Ibrahim, Darian M. - 2015
This Article examines a third exit option in venture capital to supplement IPOs and trade sales: secondary markets for the sale of individual ownership interests in start-ups and venture capital (VC) funds. While investors can readily buy shares in publicly-traded companies, until recently they...
Persistent link: https://www.econbiz.de/10013038538
Cover Image
Social Enterprise Innovation : Delaware's Public Benefit Corporation Law
Murray, J. Haskell - 2014
In 2010, to a Philadelphia audience, B Lab co-founder Jay Coen Gilbert claimed that “our capitalist system is not serving society; it's serving shareholders” and stated that “we can't run around expecting different outcomes until we change the rules of the game.” Since Gilbert's talk in...
Persistent link: https://www.econbiz.de/10013053986
Cover Image
The Importance of Trust for Investment : Evidence From Venture Capital (Revision of DP 2009-43)
Da Rin, Marco; Bottazzi, L.; Hellmann, T. - Tilburg University, Center for Economic Research - 2010
We examine the effect of trust on financial investment and contracting decisions in a micro-economic environment where trust is exogenous. Using hand-collected data on European venture capital, we show that the Eurobarometer measure of trust among nations significantly affects investment...
Persistent link: https://www.econbiz.de/10011090711
Cover Image
Conflicting fiduciary duties and fire sales of VC-backed start-ups
Bian, Bo; Li, Yingxiang; Nigro, Casimiro A. - 2022
This paper studies the interactions between corporate law and VC exits by acquisitions, an increasingly common source of VC-related litigation. We find that transactions by VC funds under liquidity pressure are characterized by (i) a substantially lower sale price; (ii) a greater probability of...
Persistent link: https://www.econbiz.de/10013286016
Cover Image
Seven 'Corporate Venturing' Strategies to Foster Innovation (and Create an Environment for Long-Term Growth)
Fenwick, Mark - 2016
Seven “Corporate Venturing” Strategies to Foster Innovation tackles the question: What should companies do to … accelerate innovation and remain relevant? Or, stated differently: What should companies do to avoid being disrupted by more … relationship with entrepreneurs, founders and startups. By “organizing-for-innovation” in this way, large firms give themselves the …
Persistent link: https://www.econbiz.de/10012985241
Cover Image
Contractual Innovation in Venture Capital
Coyle, John F. - 2014
Persistent link: https://www.econbiz.de/10013056267