Staged Venture Capital Investment considering Unexpected Major Events

Staged Financing in Venture Capital: Moral Hazard and Risks

This paper investigates staged ... nancing in an environment where an entrepreneur faces an imperfect capital market and an investor faces moral hazard and uncertainty. Staged ... nancing plays two roles in this model: to control risk and to mitigate moral hazard. Using parametric functions and comparing staged ... nancing with upfront ... nancing, we discover a few interesting properties of st...

Venture Capital Networks and Investment Performance in China

We investigate the relationship between venture capital (VC) networks and investment performance in China. Distinct features of China’s VC networks are captured in our econometric model through the inclusion of an index of network stability and a dummy variable that indicates a VC firm’s connections with the Chinese state. Our econometric analysis shows that a VC firm’s position in its network,...

Venture Capital Investment in the Clean Energy Sector

Venture Capital Investment in the United States 1995-2002

This paper provides an empirical examination of the investments by venture capital firms for the period before, during and after the stock market bubble of 1999 and 2000. Comparisons are made between pre-bubble, bubble and post-bubble investment patterns by state for location, stage and industry of investment. Location quotients for investments by state and industry are displayed. States with l...

The investment strategies of publicly sponsored venture capital funds

This paper investigates the effects of public ownership on the investment strategy of hybrid VC funds. We exploit a unique dataset containing data for all of the venture capital funds in Europe that received financial support from the European Investment Fund (EIF) during the years 1998–2007. The dataset includes 179 VC funds that invested in 2482 companies. We find that the level of public own...