Exit Choices Of Venture Backed Firms

Download Exit Choices Of Venture Backed Firms full books in PDF, epub, and Kindle. Read online Exit Choices Of Venture Backed Firms ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!

How Venture Capital Works

Download How Venture Capital Works PDF Online Free

Author : Phillip Ryan
Publisher : The Rosen Publishing Group, Inc
ISBN 13 : 1448867959
Total Pages : 82 pages
Book Rating : 4.4/5 (488 download)

Book Synopsis How Venture Capital Works by : Phillip Ryan

Download or read book How Venture Capital Works written by Phillip Ryan and published by The Rosen Publishing Group, Inc. This book was released on 2012-07-01 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explanations to the inner workings of one of the least understood, but arguably most important, areas of business finance is offered to readers in this engaging volume: venture capital. Venture capitalists provide necessary investment to seed (or startup) companies, but the startup is only the beginning, there is much more to be explored. These savvy investors help guide young entrepreneurs, who likely have little experience, to turn their businesses into the Googles, Facebooks, and Groupons of the world. This book explains the often-complex methods venture capitalists use to value companies and to get the most return on their investments, or ROI. This book is a must-have for any reader interested in the business world.

Exit Choices of Venture-Backed Firms

Download Exit Choices of Venture-Backed Firms PDF Online Free

Author : Eric R. Ball
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

Book Synopsis Exit Choices of Venture-Backed Firms by : Eric R. Ball

Download or read book Exit Choices of Venture-Backed Firms written by Eric R. Ball and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine IPO and acquisition waves, exit choices, and pre-money valuations at exit for 7082 venture-backed private companies over the 19-year period from 1978 through 2006. Consistent with other literature, we hypothesize that levels of IPO and acquisition activity and the choice between IPO and acquisition may be affected by (i) market timing or investor sentiment, (ii) variations in the importance of information asymmetry, (iii) variations in the intensity of capital demand, and (iv) variations in the relative cost of the alternatives. Based on either the full sample, or sector-specific subsamples, we find that IPOs are selected during periods when market-wide demand for growth capital is high, adverse selection costs of equity issues are low, and the value of protecting private information is low. The evidence also is consistent with the view that IPO issuance is subject to high fixed cost compared to acquisition. We find no consistent support for the hypothesis that issuers are more likely to select IPOs during periods when the market is over-heated such that subsequent market returns are negative. Puzzlingly, acquisition activity does tend to peak before market declines. Evidence on the relation between pre-money value and exit activity indicates that adjustments in the IPO market are mainly to the numbers of firms going public whereas adjustments in the acquisition market are mainly to value.

The Exit Decision in Venture Capital. How to Choose Exit Timing and Exit Route

Download The Exit Decision in Venture Capital. How to Choose Exit Timing and Exit Route PDF Online Free

Author : Heinrich Stilling
Publisher : GRIN Verlag
ISBN 13 : 3346041808
Total Pages : 35 pages
Book Rating : 4.3/5 (46 download)

Book Synopsis The Exit Decision in Venture Capital. How to Choose Exit Timing and Exit Route by : Heinrich Stilling

Download or read book The Exit Decision in Venture Capital. How to Choose Exit Timing and Exit Route written by Heinrich Stilling and published by GRIN Verlag. This book was released on 2019-10-23 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Academic Paper from the year 2014 in the subject Business economics - Investment and Finance, grade: 1,7, Technical University of Munich, language: English, abstract: The focus of this paper lies on answering the questions, what factors should be considered to successfully exist a venture with regard to exit timing and routing and how these strategic choices are interrelated. The divestment process plays a critical role in the Venture Capital (VC) business model. Typically, a VC invested venture is not able to pay dividends prior to its exit as the business has not fully matured yet. Therefore, a Venture Capital Firm (VCF) generates virtually all of its income by realizing capital gains at the time of the venture’s exit. This indicates that a VCF heavily depends on a successful divestment transaction - in most cases, a poor exit execution leads to an inferior return on investment which in turn can ruin the VCF’s overall performance. A VCF therefore plans its exits carefully and evaluates its strategic choices. In this context, the two most important exit decision variables considered by a VCF are the choice of exit route and the choice of exit timing. By choosing the right exit route and pursuing good exit timing, a VCF can significantly increase its proceeds for a given venture. The primary focus of this paper lies on answering these aforementioned questions by drawing together the empirical research on these two dominant strategic exit choices.

Can VCs Time the Market? An Analysis of Exit Choice for Venture-Backed Firms

Download Can VCs Time the Market? An Analysis of Exit Choice for Venture-Backed Firms PDF Online Free

Author : Eric R. Ball
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (129 download)

Book Synopsis Can VCs Time the Market? An Analysis of Exit Choice for Venture-Backed Firms by : Eric R. Ball

Download or read book Can VCs Time the Market? An Analysis of Exit Choice for Venture-Backed Firms written by Eric R. Ball and published by . This book was released on 2011 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use a sample of 8163 venture-backed companies over three decades to test the competing hypotheses that levels and relative shares of IPO and Mamp;A exits are affected by market timing, versus pseudo market timing that reflects market conditions. We find evidence of pseudo market timing. VC-backed issuers react to market or sector run-ups but do not predict downturns. We find no evidence that firm-specific market timing contributes to IPO or Mamp;A waves. We also find that acquirers turn to acquisition when other opportunities are unattractive, and that the market may be slow to recognize that such opportunities are declining.

Entrepreneur’s choice between Venture Capitalist and Business Angel for Start-Up Financing

Download Entrepreneur’s choice between Venture Capitalist and Business Angel for Start-Up Financing PDF Online Free

Author : Daniel Schmidt
Publisher : Anchor Academic Publishing (aap_verlag)
ISBN 13 : 3954896907
Total Pages : 54 pages
Book Rating : 4.9/5 (548 download)

Book Synopsis Entrepreneur’s choice between Venture Capitalist and Business Angel for Start-Up Financing by : Daniel Schmidt

Download or read book Entrepreneur’s choice between Venture Capitalist and Business Angel for Start-Up Financing written by Daniel Schmidt and published by Anchor Academic Publishing (aap_verlag). This book was released on 2014-02-01 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study extends the literature on venture capital by examining whether entrepreneur’s choice for an external investor and certain firm characteristics have an impact on venture success or not. The focus is set on the differences in value creation by venture capitalists and business angels for ventures of the high- and low-technology sector. The assessment of a data set including 252 Series A financing rounds by venture capitalist firms, business angels and collaborative investments of both investors conducted between 2005 and 2012 unveils value enhancing aspects for all three financing solutions. Overall, start-ups initially financed by venture capitalist firms perform best with regard to general venture success, whereas start-ups collaboratively supported by venture capitalists and business angels have the highest chances to exit successfully through a trade sale. It becomes further apparent that ventures located in one of the high-technology industries ‘internet’, ‘pharmaceuticals’ and ‘high-tech’, ventures that are longer established in the market and ventures whose Series A financing round was executed more recently indicate an enhanced likelihood of success.

Handbook of Research on IPOs

Download Handbook of Research on IPOs PDF Online Free

Author : Mario Levis
Publisher : Edward Elgar Publishing
ISBN 13 : 1781955379
Total Pages : 599 pages
Book Rating : 4.7/5 (819 download)

Book Synopsis Handbook of Research on IPOs by : Mario Levis

Download or read book Handbook of Research on IPOs written by Mario Levis and published by Edward Elgar Publishing. This book was released on 2013-11-29 with total page 599 pages. Available in PDF, EPUB and Kindle. Book excerpt: The chapters offer some important new insights into issues that will be of interest not only to the academic community but also to professionals involved in the preparation, structure and execution of such transactions, market regulators, and private a

The Oxford Handbook of Private Equity

Download The Oxford Handbook of Private Equity PDF Online Free

Author : Douglas Cumming
Publisher : OUP USA
ISBN 13 : 0195391586
Total Pages : 769 pages
Book Rating : 4.1/5 (953 download)

Book Synopsis The Oxford Handbook of Private Equity by : Douglas Cumming

Download or read book The Oxford Handbook of Private Equity written by Douglas Cumming and published by OUP USA. This book was released on 2012-03-22 with total page 769 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides a comprehensive picture of the issues surrounding the structure, governance, and performance of private equity.

The Routledge Companion to Management Buyouts

Download The Routledge Companion to Management Buyouts PDF Online Free

Author : Mike Wright
Publisher : Routledge
ISBN 13 : 1351862537
Total Pages : 624 pages
Book Rating : 4.3/5 (518 download)

Book Synopsis The Routledge Companion to Management Buyouts by : Mike Wright

Download or read book The Routledge Companion to Management Buyouts written by Mike Wright and published by Routledge. This book was released on 2018-09-03 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: Management Buyouts (MBOs) first came to prominence in the US during the early 1980s, and have subsequently become a global phenomenon and a highly significant transaction within the corporate restructuring landscape Although much recent attention has focused on private equity (PE) backed buyouts, these are only a subset of the total MBO market. The Routledge Companion to Management Buyouts takes a much broader definition, reviewing the current state of research and theory and where further developments are likely to occur and incorporating PE and non-PE backed buyouts, as well as variations such as management buy-ins and management-employee buyouts. It goes beyond the purely financial perspective, exploring the many different aspects of management buyouts and incorporating related disciplines including strategy, organizational change, and HRM providing the first truly comprehensive authoritative resource on the topic. Expertly edited, and drawing on international scholarship, this unique volume will be an invaluable sourcebook on MBOs for researchers and advanced students as well as those interested in the broader areas of corporate restructuring and ownership change.

The Business of Venture Capital

Download The Business of Venture Capital PDF Online Free

Author : Mahendra Ramsinghani
Publisher : John Wiley & Sons
ISBN 13 : 1118926617
Total Pages : 432 pages
Book Rating : 4.1/5 (189 download)

Book Synopsis The Business of Venture Capital by : Mahendra Ramsinghani

Download or read book The Business of Venture Capital written by Mahendra Ramsinghani and published by John Wiley & Sons. This book was released on 2014-07-14 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive guide to demystifying the venture capital business The Business of Venture Capital, Second Edition covers the entire spectrum of this field, from raising funds and structuring investments to assessing exit pathways. Written by a practitioner for practitioners, the book provides the necessary breadth and depth, simplifies the jargon, and balances the analytical logic with experiential wisdom. Starting with a Foreword by Mark Heesen, President, National Venture Capital Association (NVCA), this important guide includes insights and perspectives from leading experts. Covers the process of raising the venture fund, including identifying and assessing the Limited Partner universe; fund due-diligence criteria; and fund investment terms in Part One Discusses the investment process, including sourcing investment opportunities; conducting due diligence and negotiating investment terms; adding value as a board member; and exploring exit pathways in Part Two Offers insights, anecdotes, and wisdom from the experiences of best-in-class practitioners Includes interviews conducted by Leading Limited Partners/Fund-of-Funds with Credit Suisse, Top Tier Capital Partners, Grove Street Advisors, Rho Capital, Pension Fund Managers, and Family Office Managers Features the insights of over twenty-five leading venture capital practitioners, frequently featured on Forbes' Midas List of top venture capitalists Those aspiring to raise a fund, pursue a career in venture capital, or simply understand the art of investing can benefit from The Business of Venture Capital, Second Edition. The companion website offers various tools such as GP Fund Due Diligence Checklist, Investment Due Diligence Checklist, and more, as well as external links to industry white papers and other industry guidelines.

Raising Entrepreneurial Capital

Download Raising Entrepreneurial Capital PDF Online Free

Author : John B. Vinturella
Publisher : Newnes
ISBN 13 : 0124017282
Total Pages : 360 pages
Book Rating : 4.1/5 (24 download)

Book Synopsis Raising Entrepreneurial Capital by : John B. Vinturella

Download or read book Raising Entrepreneurial Capital written by John B. Vinturella and published by Newnes. This book was released on 2013-01-16 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Raising Entrepreneurial Capital guides the reader through the stages of successfully financing a business. The book proceeds from a basic level of business knowledge, assuming that the reader understands simple financial statements, has selected a specific business, and knows how to write a business plan. It provides a broad summary of the subjects that people typically research, such as "How should your company position itself to attract private equity investment?" and "What steps can you take to improve your company's marketability?" Much has changed since the book was first published, and this second edition places effects of the global recession in the context of entrepreneurship, including the debt vs. equity decision, the options available to smaller businesses, and the considerations that lead to rapid growth, including venture capital, IPOs, angels, and incubators. Unlike other books of the genre, Raising Entrepreneurial Capital includes several chapters on worldwide variations in forms and availability of pre-seed capital, incubators, and the business plans they create, with case studies from Europe, Latin America, and the Pacific Rim. Combines solid theory with a practitioner's experience and insights Case studies illustrate theory throughout the book Updated to reflect the realities of the global economic recession

Decision-Making in Private Equity Firms

Download Decision-Making in Private Equity Firms PDF Online Free

Author : Mark Broere
Publisher : Springer Science & Business Media
ISBN 13 : 3658037806
Total Pages : 215 pages
Book Rating : 4.6/5 (58 download)

Book Synopsis Decision-Making in Private Equity Firms by : Mark Broere

Download or read book Decision-Making in Private Equity Firms written by Mark Broere and published by Springer Science & Business Media. This book was released on 2013-10-04 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: The decisions of private equity firms affect the development of industries and national economies, yet little is known about how these decisions are made. Mark Broere uses proprietary survey data from 136 private equity firms (venture capital and buyout) located in the US, Canada, and Europe to explore determinants and rules of their decision-making. The results exhibit new facts about their objectives, success measures, decision criteria, exit decision power and rules. A discussion in light of existing financial theory highlights, e.g. the role of reputation, and potential pitfalls in the decision-making of practitioners. The author suggests that private equity firms might improve their performance by a more careful choice of decision rules and criteria and by a more consistent application of these across varying decision types.

Handbook of the Economics of Finance

Download Handbook of the Economics of Finance PDF Online Free

Author : George M. Constantinides
Publisher : Newnes
ISBN 13 : 0444535950
Total Pages : 859 pages
Book Rating : 4.4/5 (445 download)

Book Synopsis Handbook of the Economics of Finance by : George M. Constantinides

Download or read book Handbook of the Economics of Finance written by George M. Constantinides and published by Newnes. This book was released on 2013-02-08 with total page 859 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 11 articles in this first of two parts, top scholars summarize and analyze recent scholarship in corporate finance. Covering subjects from corporate taxes to behavioral corporate finance and econometric issues, their articles reveal how specializations resonate with each other and indicate likely directions for future research. By including both established and emerging topics, Volume 2 will have the same long shelf life and high citations that characterize Volume 1 (2003). Presents coherent summaries of major finance fields, marking important advances and revisions Describes the best corporate finance research created about the 2008 financial crises Exposes readers to a wide range of subjects described and analyzed by the best scholars

Venture Capital, Private Equity, and the Financing of Entrepreneurship

Download Venture Capital, Private Equity, and the Financing of Entrepreneurship PDF Online Free

Author : Josh Lerner
Publisher : John Wiley & Sons
ISBN 13 : 1119559669
Total Pages : 514 pages
Book Rating : 4.1/5 (195 download)

Book Synopsis Venture Capital, Private Equity, and the Financing of Entrepreneurship by : Josh Lerner

Download or read book Venture Capital, Private Equity, and the Financing of Entrepreneurship written by Josh Lerner and published by John Wiley & Sons. This book was released on 2023-05-02 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the newly revised second edition of Venture Capital, Private Equity, and the Financing of Entrepreneurship, a dedicated team of researchers and professionals delivers an authoritative and comprehensive account of the world of active investing. This important work demonstrates how venture capitalists and private equity investors do business and create value for entrepreneurs, shareholders, and other stakeholders. The authors, drawing on decades of combined experience studying and participating in the private equity markets, discuss the players, dynamics, and the incentives that drive the industry. They also describe various possibilities for the future development of private equity. This latest edition is perfect for advanced undergraduate students of finance and business, as well as MBA students seeking an insightful and accessible textbook describing the private equity markets.

Venture Capital

Download Venture Capital PDF Online Free

Author : Douglas Cumming
Publisher : John Wiley & Sons
ISBN 13 : 0470599758
Total Pages : 604 pages
Book Rating : 4.4/5 (75 download)

Book Synopsis Venture Capital by : Douglas Cumming

Download or read book Venture Capital written by Douglas Cumming and published by John Wiley & Sons. This book was released on 2010-04-29 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential guide to venture capital Studies have shown that venture capital backed entrepreneurial firms are on average significantly more successful than non-venture capital backed entrepreneurial firms in terms of innovativeness, profitability, and share price performance upon going public. Understanding the various aspects of venture capital is something anyone in any industry should be familiar with. This reliable resource provides a comprehensive view of venture capital by describing the current state of research and best practices in this arena. Issues addressed include sources of capital-such as angel investment, corporate funds, and government funds-financial contracts and monitoring, and the efficiency implications of VC investment, to name a few. Opens with a review of alternative forms of venture capital Highlights the structure of venture capital investments Examines the role venture capitalists play in adding value to their investee firms This informative guide will help you discover the true potential of venture capital.

The Founder’s Investor Choice

Download The Founder’s Investor Choice PDF Online Free

Author : Alexander G. W. Schröder
Publisher : Springer Nature
ISBN 13 : 3658353457
Total Pages : 123 pages
Book Rating : 4.6/5 (583 download)

Book Synopsis The Founder’s Investor Choice by : Alexander G. W. Schröder

Download or read book The Founder’s Investor Choice written by Alexander G. W. Schröder and published by Springer Nature. This book was released on 2021-09-03 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: A founder’s decision for an investor can substantially influence the new venture’s success. Two common types of venture capital (VC) are independent venture capital (IVC) and corporate venture capital (CVC). Previous research focused on the investor’s perspective and studied the distinct differences between IVC and CVC, their value-adding capabilities, and risks. In contrast, as founders’ investor options have been rising, this research focuses on the founders and studies, which of the two types they prefer and why. The author outlines which investor characteristics founders favor and quantifies the value of these VC characteristics in terms of accepted equity dilution. The results show that founder preferences for the two VC types are highly heterogeneous. The author provides recommendations for founders on how to find the right investor and outlines how investors can position themselves to attract the most promising ventures and founding teams.

The Optimisation of Venture Capital Processes

Download The Optimisation of Venture Capital Processes PDF Online Free

Author : Junaid Javaid
Publisher : GRIN Verlag
ISBN 13 : 3656748829
Total Pages : 43 pages
Book Rating : 4.6/5 (567 download)

Book Synopsis The Optimisation of Venture Capital Processes by : Junaid Javaid

Download or read book The Optimisation of Venture Capital Processes written by Junaid Javaid and published by GRIN Verlag. This book was released on 2014-09-23 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Project Report from the year 2014 in the subject Business economics - Investment and Finance, grade: B-, University of West London, course: BUSINESS STUDIES WITH FINANCE, language: English, abstract: This dissertation is written on the topic of “Optimisation of Venture Capital Processes": The scope of this dissertation is broad as it will closely signify and analyse all the important factors incorporated within the process of venture capital and would direct the underlying venture backed company towards the way of optimisation It has been observed that venture capital is frequently perceived as a synonym of private equity. According to Bygrave & Timmons (1992), the venture capital process is composed of four different phases (Investment Decision, Contracting, Control & Value Adding and Exit). The investment decision phase is much significant and is also time consuming. In relation to Contracting aspect, it has been assumed the each negiotated contract would be distinctive from each other and it would happen as a result of variation in term of assigning of control right adequate to that specific investment. With respect to Control & Value Adding aspect, It has been ascertained that through their active participation in the governance, aspect would have an opportunity in transfering their resources & competencies to the company in which they have invested. Therefore, major reason behind the significance of exit strategy in the venture capital is that in the earlier phases of development it seems very rare for the company to pay dividends to its shareholders. From the results of Investment Decision cases of all companies that there are three kinds of approaches (NPV, IRR and Real Options) that could be adopted for the purpose of estimating the value of companies’ projects backed by venture capital From the research paper on contracting factor, It has been discovered that important terms (regarding the composition and form of financial claims held by the entrepreneurs and venture capitalists) seemed to depend more on the size of underlying venture capital market size. From the case study on Control & Value Adding, it has been indicated that there is a direct relationship exists among the venture capitalists’ active participation and the performance of entrepreneurial companies. From the Journal on Exit Strategies, it has been observed that IPO is determined as exensively pursued exit strategy. However, trade sale is regarded as second preferred exit strategy. [...]

Entrepreneurial Finance

Download Entrepreneurial Finance PDF Online Free

Author : Janet Smith
Publisher : Stanford University Press
ISBN 13 : 0804770913
Total Pages : 746 pages
Book Rating : 4.8/5 (47 download)

Book Synopsis Entrepreneurial Finance by : Janet Smith

Download or read book Entrepreneurial Finance written by Janet Smith and published by Stanford University Press. This book was released on 2011-03-22 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt: Entrepreneurial Finance applies current financial economics research and theory to the study of entrepreneurship and new venture finance.