Venture projects are fraught with exogenous market risk and endogenous agency risk. We apply a real options perspective to analyze the investment decision of the venture capitalist (VC) in this set-up. The solutions presented are conflictive: the VC reduces his exposure to exogenous risk by...

Venture projects are fraught with exogenous market risk and endogenous agency risk. We apply a real options perspective to analyze the investment decision of the venture capitalist (VC) in this set-up. The solutions presented are conflictive: the VC reduces his exposure to exogenous risk by...

The purpose of this paper is to examine how learning about an entrepreneurial project is impacted by asymmetric information. In this paper, a unique data set about entrepreneurial firm's planned capital appropriation is presented to estimate the effect of new information on entrepreneurial...

Venture projects are fraught with exogenous market risk and endogenous agency risk. We apply a real options perspective to analyze the investment decision of the venture capitalist (VC) in this set-up. The solutions presented are conflictive: the VC reduces his exposure to exogenous risk by...

German Abstract: Kapitalerhöhungen sind ein wesentliches Finanzierungsinstrument für Unternehmen. Dies hat sich insbesondere in der Finanzkrise gezeigt, als Unternehmen und Banken Kapitalerhöhungen zur Unterstützung ihrer Kreditwürdigkeit bzw. Beibehaltung ihrer Zahlungsfähigkeit...

A high level of information asymmetry is characterizing for venture capital investments making new information about entrepreneurial companies especially valuable for a venture capitalist’s valuation process. This paper uses text classification and text mining methodology to extract structured...