Efficient venture capital financing combining debt and equity
نویسنده
چکیده
I present a model of venture capital contracting in which contracts that involve a mixture of both debt and equity are efficient and dominate pure-equity and pure-debt financing. The optimal contract balances the venture capitalist’s incentive to intervene in the project and the entrepreneur’s desire for control. JEL classification: G24, G32
منابع مشابه
The Simple Analytics of Informed Finance∗
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