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Author : Dirk Engel
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (767 download)
Download or read book Firm Level Implications of Early Stage Venture Capital Investment written by Dirk Engel and published by . This book was released on 2002 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Dirk Engel
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (314 download)
Download or read book The Impact of Venture Capital on Firm Growth written by Dirk Engel and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Nadine Ulrich
Publisher : GRIN Verlag
ISBN 13 : 3640423933
Total Pages : 73 pages
Book Rating : 4.6/5 (44 download)
Download or read book The Economic Impact of Venture Capital Backed Companies written by Nadine Ulrich and published by GRIN Verlag. This book was released on 2009-09-20 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2007 in the subject Business economics - Investment and Finance, grade: 1,3, Technical University of Munich (Lehrstuhl für Entrepreneurial Finance), language: English, abstract: Die Arbeit beschäftigt sich mit dem ökonomischen Einfluss von Venture Capital-finanzierten Unternehmen und betrachtet dabei im Detail drei Bereiche: Wachstum, Beschäftigung und Innovationen. Outline of the work The objective of this paper is the investigation of the economic impact of venture capital-backed companies. Therefore growth, employment and innovation are examined as the three most important spheres of influence. Beyond that, venture capital probably affects further areas of economy that are however not described within the scope of this work. This analysis should clarify the extent and kind of influence of venture-backed enterprises. It is based on various studies about the economic impact of venture capital, covering different research methods and geographic regions all over the world. The structure of the paper is shown in Fig. 1. The first chapter introduces the topic by describing the relevance of the subject and the structure of the work. Thereafter follows a definition of venture capital, a specification of the economic focus and a discussion of methodological issues. The chapters three to five constitute the main part and investigate the above-mentioned spheres, applying a three-staged examination method. The first section describes the respective topic and discusses relevant measures for the analysis. The second section inspects the development of venture capital-backed companies by looking at quantitative and qualitative aspects. The measures identified in the first section are chosen as quantitative indicators. The qualitative research focuses on the strongest influenced areas. The last section of the respective chapter assesses the economic importance of the topic, summarises the findings and determines the role of venture capitalists. C
Author : Gavin Reid
Publisher : Routledge
ISBN 13 : 1134681348
Total Pages : 392 pages
Book Rating : 4.1/5 (346 download)
Download or read book Venture Capital Investment written by Gavin Reid and published by Routledge. This book was released on 2002-09-11 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gavin Reid presents a systematic analysis of what drives investor-investee relations in venture capital markets. In the first analytical work to use a unified framework, he draws upon a modern and general approach to contracting relations, namely principal-agent analysis. This book establishes a clear theoretical framework involving risk management, information handling and the 'trading' of risk and information. Using powerful modern theory as a general and coherent frame of reference to analyse an extensive body of new evidence, the author shows how top investors manage risk and monitor investees, and examines the best relationship between investor and investee. Exploring the principles governing high-risk/high-return investment, this is a unique insight into the turbulent world of the venture capitalist.
Author : Paul Alan Gompers
Publisher : MIT Press
ISBN 13 : 9780262072557
Total Pages : 592 pages
Book Rating : 4.0/5 (725 download)
Download or read book The Venture Capital Cycle written by Paul Alan Gompers and published by MIT Press. This book was released on 2004 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of the venture capital process, from fund-raising through investing to exiting investments; a new edition with major revisions and six new chapters that reflect the latest research.
Author : Michael Jurgen Garbade
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (13 download)
Download or read book Differences in Venture Capital Financing of U.S., UK, German and French Information Technology Start-Ups - A Comparative Empirical Research of the Investment Process on the Venture Capital Firm Level written by Michael Jurgen Garbade and published by . This book was released on 2015 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sophie Manigart
Publisher :
ISBN 13 : 9781601986504
Total Pages : 209 pages
Book Rating : 4.9/5 (865 download)
Download or read book Venture Capital Investors and Portfolio Firms written by Sophie Manigart and published by . This book was released on 2013 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Venture Capital Investors and Portfolio Firms venture capital firms are considered as investors in young growth-oriented companies. The authors focus on the later phases of the venture capital (VC) investment process. They therefore emphasize monitoring, value adding, and exiting activities. They also include a review of the literature on the outcome of venture capital investment activities. Research findings are drawn principally from refereed journal papers in entrepreneurship, finance, and management. The monograph is divided into six principal areas: 1.What venture capital firms do. 2.The impact of VCs on portfolio firms and other stakeholders. 3.The role of syndication. 4.The nature and timing of exit from VC investments. 5.The role of VCs in portfolio companies that undergo an initial public offering (IPO). 6.The returns from investing in VC. Venture Capital Investors and Portfolio Firms concludes with a detailed agenda for further research. To aid the reader who wishes to pursue particular papers in more detail, the authors provide a summary of the main papers in this literature in a set of tables where they identify the authors, publication date, the journal, the main research question, the theoretical perspective, data, and the principal findings.
Author : Oliver Pfirrmann
Publisher : Springer Science & Business Media
ISBN 13 : 3642486835
Total Pages : 165 pages
Book Rating : 4.6/5 (424 download)
Download or read book Venture Capital and New Technology Based Firms written by Oliver Pfirrmann and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this study is to investigate in the role of Venture Capital in the development of New Technology Based Firms in two countries: USA and Germany. Based on literature review and empirical work issues concerning the extent and stage of financing, the nature of oversight provided by Venture Capitalists and the framework conditions for Venture Capital are subject of investigation. The results have been reflected in a workshop with experts from research, industry and policy.
Author : Greg N. Gregoriou
Publisher : Elsevier
ISBN 13 : 0080466079
Total Pages : 433 pages
Book Rating : 4.0/5 (84 download)
Download or read book Venture Capital in Europe written by Greg N. Gregoriou and published by Elsevier. This book was released on 2011-04-01 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until recently, only the United States had an active venture capital market. This is changing rapidly, as many other countries have experienced rapid growth in venture capital financing over the past five years. This book contains new scientific articles showcasing the latest research on venture capital in Europe. Venture capital investment remains a hot topic with portfolio managers, individual investors, academics worldwide. This book examines in detail all the major issues regarding venture capital investment: contracting, financing, regulation, valuation, etc. and identifies new trends in the venture capital arena. Features a foreword by Josh Lerner.*The only book in which academics from around the world present the latest research on venture capital in Europe*Covers all of Europe as well as including overview papers about venture capital industry, public and private venture capital, valuation, financing, contracting, structuring, regulation, etc. *Comprehensive, authoritative coverage
Author : Marko Bender
Publisher : Springer Science & Business Media
ISBN 13 : 3834961728
Total Pages : 375 pages
Book Rating : 4.8/5 (349 download)
Download or read book Spatial Proximity in Venture Capital Financing written by Marko Bender and published by Springer Science & Business Media. This book was released on 2011-01-22 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: Marko Bender analyzes the impact of spatial proximity between venture capitalists and new ventures throughout the investment process. He elaborates a comprehensive theoretical framework and empirically validates resulting hypotheses concerning the observed spatial proximity and the impact of spatial proximity on the likelihood of a venture capital investment using a German dataset.
Author : Christian Irlbeck
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (142 download)
Download or read book Corporate Venture Capital Heterogeneity and Its Consequences written by Christian Irlbeck and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Vincent Thoen
Publisher :
ISBN 13 :
Total Pages : 19 pages
Book Rating : 4.:/5 (253 download)
Download or read book How Do Venture Capitalists Inform Their Investors on the Investment Portfolio? written by Vincent Thoen and published by . This book was released on 2005 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael Fritsch
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (18 download)
Download or read book Does Venture Capital Investment Really Require Spatial Proximity? written by Michael Fritsch and published by . This book was released on 2006 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Donald Sexton
Publisher : Wiley-Blackwell
ISBN 13 : 9780631215738
Total Pages : 496 pages
Book Rating : 4.2/5 (157 download)
Download or read book The Blackwell Handbook of Entrepreneurship written by Donald Sexton and published by Wiley-Blackwell. This book was released on 2000-02-21 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Entrepreneurship brings together the best researchers in the USA and Europe to review the most up-to-date thinking on the most crucial topics in entrepreneurship studies. It is the first book to combine the research activities of Europe and the United States and reflects cutting-edge research with a multicultural perspective. The 21 chapters in the Handbook have been written by 28 experts representing a entrepreneurial Who's Who.
Author : Dominik Steinkühler
Publisher : BoD – Books on Demand
ISBN 13 : 3899369866
Total Pages : 346 pages
Book Rating : 4.8/5 (993 download)
Download or read book Delayed Project Terminations in the Venture Capital Context written by Dominik Steinkühler and published by BoD – Books on Demand. This book was released on 2010 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Venture capital plays an important role in the entrepreneurial process of providing financing and management support to young, rapidly growing companies. While venture capital investment success stories such as those of Microsoft, Apple and Google are well known, such "home runs" are rather rare. Many investments provide little or no return so that accurately evaluating the prospects of portfolio companies and terminating further engagement in unsuccessful ventures in time is key to the overall portfolio performance of venture capital firms. When venture capitalists act rationally it should be expected that investment terminations are neither systematically premature nor systematically delayed. However, recent studies have discovered a systematic tendency toward delayed project terminations of unsuccessful investments that cannot be reconciled with a model of rational decision making. The present study examines such delayed project terminations in the venture capital industry and investigates whether escalation of commitment may provide an appropriate perspective on the phenomenon and contribute to its explanation. The study develops a comprehensive theoretical framework that synthesizes and integrates several economically irrational drivers of project escalation. A large scale survey among European venture capitalists provides the basis for the empirical analysis of the hypothesized relationships. The analysis yields valuable new insights into the interaction of different escalation drivers, which are much more intertwined than previously supposed by the literature, and permits to suggest effective escalation countermeasures for practice. The considerations and findings of the study are generalizable beyond the venture capital context to a wide variety of settings in which organizations routinely make sequential investment decisions.
Author : Douglas Cumming
Publisher : Oxford University Press
ISBN 13 : 019992094X
Total Pages : 1052 pages
Book Rating : 4.1/5 (999 download)
Download or read book The Oxford Handbook of Venture Capital written by Douglas Cumming and published by Oxford University Press. This book was released on 2012-04-24 with total page 1052 pages. Available in PDF, EPUB and Kindle. Book excerpt: Venture capital (VC) refers to investments provided to early-stage, innovative, and high growth start-up companies. A common characteristic of all venture capital investments is that investee companies do not have cash flows to pay interest on debt or dividends on equity. Rather, investments are made with a view towards capital gain on exit. The most sought after exit routes are an initial public offering (IPO), where a company lists on a stock exchange for the first time, and an acquisition exit (trade sale), where the company is sold in entirety to another company. However, VCs often exit their investments by secondary sales, wherein the entrepreneur retains his or her share but the VC sells to another company or investor buybacks, where the entrepreneur repurchases the VC`s interest and write-offs (liquidations). The Oxford Handbook of Venture Capital provides a comprehensive picture of all the issues dealing with the structure, governance, and performance of venture capital from a global perspective. The handbook comprises contributions from 55 authors currently based in 12 different countries.
Author : Amitay Alter
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (712 download)
Download or read book Empirical Analysis of the Organization of Venture Capital Firms written by Amitay Alter and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The dissertation consists of four chapters. Chapter 1 presents a model in which the internal organization and size of a professional partnership reflect contracting problems associated with collaboration between junior professionals and senior professionals. The model offers an economic rationale for the formation of multiple partners firms and demonstrates that when arrival of clients is uncertain they allow for better utilization of the juniors. Additionally, the analysis proposes a new approach to defining firm boundary which applies the incentive-system theory of the firm to the institutional context of professional partnerships. Chapter 2 studies the economic factors determining the size and composition of Venture Capital (VC) firms. I construct a panel data set documenting California VC firms' composition and investments and derive statistical relationships between firm size, its partners' experience, and industry trends. To interpret these empirical findings, the chapter considers several theories of partnership and firm size that vary in their economic rationale for forming firms and the factors determining equilibrium firm size. I discuss under what assumptions these theories can explain the empirical regularities and highlight methodological differences between these approaches. Chapter 3 quantitatively studies the surplus gains obtained by senior and junior partners who group together in a profit sharing partnership. The analysis addresses two empirical challenges: 1) the inability to observe and measure the surplus gains; and 2) the dependency of the gains on unobserved characteristics of the partners. I develop a model inferring the gains from the optimality of firms' decisions to recruit junior partners. The model exploits turnover and mobility of partners between firms to capture unobserved heterogeneity at the partner level. I estimate the model using a novel panel data set documenting California VC firms' composition, investments, and investment outcomes. Chapter 4 empirically studies whether mandatory unbundling delayed the deployment of DSL service by BellSouth by exploiting a law change in Kentucky and variation in access prices across markets. I find that deregulation in Kentucky triggered deployment, but I find no evidence that access prices affected deployment pace. An upper bound on the welfare loss due to late deployment in rural markets is $21 million. The findings are consistent with a positive effect of deregulation on the profitability of upgrades, but can also result from a strategic delay which is part of the bargaining between the firm and the regulator.
