An increasingly global venture capital (VC) business raises the question whether foreign VCs'investments pull economic activity away from domestic economies. Using a large sample ofVC-backed European ventures, we analyze whether involvement of foreign VCs influencesfirms' and entrepreneurs'...

In 2002 a comprehensive survey of German venture capital and private equity firms was conducted. Based on a follow-up survey in 2005, the development of the German venture capital and private equity market can be shown. The first focus of the report lies on structural topics like market...

In 2002 a comprehensive survey of German venture capital and private equity firms was conducted. Based on a follow-up survey in 2005, the development of the German venture capital and private equity market can be shown. This paper summarizes major findings concerning market structure, ownership...

The paper analyzes the suitability of minority shareholdings by private-equity-investors for family firms. The results are based on qualitative analysis of in-depth interviews with family firms, private-equity-investors and experts. The paper covers the motivation and the process of the share...

In this paper we investigate the returns to venture capital firms from acquisition exits. Starting from M&A literature, we develop three detailed categorizations of acquisitions based on the acquirer's motive and related agency issues. We use a proprietary data set of 2,356 venture...

We research the preferences and outcomes of direct venture capital investment of charitable foundations and university endowments in the United States and the United Kingdom. Our analysis provides evidence that foundations' and endowments' venture capital direct investments are clustered in...

Over the past three decades, universities in industrialized countries have become increasingly active as venture capital financiers. Here, we analyze if investments in university-affiliated portfolio companies, in the form of an institutional-personal relation between the university and the...

Venture capital (VC) syndication mainly occurs to compensate for a lack of resources, whether financial or otherwise. The current literature does not sufficiently explore the extent to which the motives differ for syndication between general partners (GPs) or between GPs and limited partners...

The Mercator Research Network Zeppelin University – TU Munich – CSI Heidelberg analyzes the organization, communication, legitimacy and governance of social entrepreneurs. The underlying definition uses fourteen criteria to characterize social entrepreneurship and tries to differentiate...