Similar Search Results

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

Liquidity events and returns of EIF-backed VC investments

Prencipe, Dario - 2017

Despite the sometimes intensive media coverage and exuberant storytelling around the industry, venture capital (VC) investors tend to operate in highly opaque markets. On this premise, this work contributes to the literature via a hand-collected dataset of about 3,600 EIF-backed VC investments...

Persistent link: https://www.econbiz.de/10011863286

Risk management in the venture capital industry : managing risk in portfolio companies

Proksch, Dorian; Stranz, Wiebke; Pinkwart, Andreas; … - In: Journal of entrepreneurial finance : JEF ; official … 18 (2016) 2, pp. 1-33

Managing risk is one of the main activities of venture capital companies. Despite the fact that this topic is of high … practical relevance, only little research was published on risk management performed by venture capital companies in their … measures to decrease failure risk in venture capital-backed ventures. We tested these hypotheses with an empirical data set of …

Persistent link: https://www.econbiz.de/10011992186

Financing technology-based small firms in Europe : a review of the empirical evidence

Revest, Valérie; Sapio, Sandro - 2009

This paper reviews the evidence on financing technology-based small firms (TBSFs) in Europe. The main findings in the literature are the 1) European TBSF's finance new investments by relying primarily on internal funds, due to capital market failures induced by asymmetric information; 2)...

Persistent link: https://www.econbiz.de/10008729547

Geographic location of a new venture and the likelihood of a venture capital investment

Achleitner, Ann-Kristin; Bender, Marko; Kaserer, Christoph - 2010

Based on 1182 dyads of German new ventures and venture capitalists involved in a financing round between 2002 and 2007, we examine the impact of spatial proximity on the likelihood of an investment. We find that with each triplication of journey time the relative likelihood of an investment...

Persistent link: https://www.econbiz.de/10008659237

Business Partners, Financing, and the Commercialization of Inventions

Astebro, Thomas B. - 2014

This paper studies the effect of business partners on the commercialization of invention-based ventures, and it assesses the relative importance of the complementary skills, contacts, and financial capital that these partners may add to the original inventor-entrepreneur. Projects run by...

Persistent link: https://www.econbiz.de/10013067809

Venture Capital Investment Strategies Under Financing Constraints : Evidence from the 2008 Financial Crisis

Conti, Annamaria - 2019

This paper employs the 2008 financial crisis as an empirical setting to examine how investment strategies of venture capitalists (VCs) vary in the presence of a liquidity supply shock, and what the performance implications of these strategies are for their portfolio startups. We show that while,...

Persistent link: https://www.econbiz.de/10012903323

Market Mechanisms and Funding Dynamics in Equity Crowdfunding

Hornuf, Lars - 2017

Equity crowdfunding is a new form of entrepreneurial finance, in which investors do not receive perks or engage in pre-purchase of the product, but rather participate in the future cash flows of a firm. In this paper, we analyze what determines individual investment decisions in this new...

Persistent link: https://www.econbiz.de/10012971682

Collective Action and the Financing of Innovation : Evidence from Crowdfunding

Carr, Sean - 2014

The emergent phenomenon of crowdfunding, whereby large groups of individuals act collectively to support creative and entrepreneurial endeavors, suggests an alternate model for the financing of innovation. Drawing from extensive field interviews and unique hand-collected datasets of crowdfunding...

Persistent link: https://www.econbiz.de/10013052538

Financing of Innovation System Development and Attraction of Private Capital

Prohorovs, Anatolijs - 2015

factors. The latest Silicon Valley Venture Capitalist Confidence Index 2011 Q4 confirms the attitude of private risk capital …

Persistent link: https://www.econbiz.de/10013026513