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Venture Capital Investments in Europe and Firm Productivity

2014
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Release : 2014
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Book Synopsis Venture Capital Investments in Europe and Firm Productivity by : Massimo G. Colombo

Download or read book Venture Capital Investments in Europe and Firm Productivity written by Massimo G. Colombo. This book was released on 2014. Available in PDF, EPUB and Kindle. Book excerpt: Using a new European Commission-sponsored longitudinal dataset - the VICO dataset - we assess the impact of independent (IVC) and corporate venture capital (CVC) investments on the total factor productivity (TFP) of European high-tech entrepreneurial firms during the period 1992-2010. After controlling for potential sources of endogeneity and selection bias, our results indicate that both IVC and CVC investments boost TFP, whereas investments syndicated by both IVC and CVC investors do not. These effects are mostly due to an increase in sales value. Moreover, the dynamics of the impact of VC investments on TFP and its components - sales value, fixed assets, and payroll expenses - differs depending on the type of investor.

Venture Capital in Europe

2011-04-01 Business & Economics
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Release : 2011-04-01
Genre : Business & Economics
Kind : eBook
Book Rating : 079/5 ( reviews)

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Book Synopsis Venture Capital in Europe by : Greg N. Gregoriou

Download or read book Venture Capital in Europe written by Greg N. Gregoriou. This book was released on 2011-04-01. 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

Venture Capital Performance

2019-11-22 Business & Economics
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Release : 2019-11-22
Genre : Business & Economics
Kind : eBook
Book Rating : 20X/5 ( reviews)

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Book Synopsis Venture Capital Performance by : Keith Arundale

Download or read book Venture Capital Performance written by Keith Arundale. This book was released on 2019-11-22. Available in PDF, EPUB and Kindle. Book excerpt: European venture capital (VC) funds have historically underperformed their US counterparts. This has resulted in reduced investment into European VC by the traditional institutional investors. This book investigates the factors that give rise to the performance difference. It is based on the author’s research at the Adam Smith Business School, University of Glasgow which involved a qualitative study of some 64 VC firms in the UK, continental Europe and the US, supplemented by 40 interviews with other stakeholders, including limited partner investors, corporate venturers, entrepreneurs and advisors. Readers will gain an in-depth understanding of the various structural, operational and wider environmental factors that impact on the performance difference between UK/European and US VC funds. The study is unique in that it provides, for the first time, a holistic and extensive analysis of the entire investment process from sourcing deals to exiting deals specifically contrasting Europe and the US in terms of the variables pertaining to the investment process and the impact on the fund performance. Factors impacting on the performance differential are structural, resulting from characteristics of the funds themselves, operational such as the investment practices of the VC firms which manage the funds and environmental such as culture and attitude to risk and the wider ecosystem in which the funds operate. These factors are set out clearly for the reader. The characteristics of the better performing funds in Europe and the US are also investigated. The book is aimed at academics who are researching venture capital fund performance and investment practices and also at practitioners, advisors and policymakers who want to learn about best VC investment practices. Whilst the book is focused on European and US VC investing, the best practices are also pertinent for VC firms and funds setting up in other geographies, particularly in emerging markets. To this end, best practice guidelines based on the research are included.

Governmental and Independent Venture Capital Investments in Europe

2017
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Release : 2017
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Book Synopsis Governmental and Independent Venture Capital Investments in Europe by : Douglas J. Cumming

Download or read book Governmental and Independent Venture Capital Investments in Europe written by Douglas J. Cumming. This book was released on 2017. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the impact of government versus private independent venture capital (VC) backing on the exit performance of entrepreneurial firms. Our analyses are based on the VICO dataset, which avoids the coding problems of VC type in the Thompson Financial SDC dataset. The data indicate that private independent VC-backed companies have better exit performance than government-backed companies. Mixed-syndicates of private-independent and governmental VC investors give rise to a higher (but not statistically different) likelihood of positive exits than that of IVC-backing. Our findings are not influenced by the composition of the syndicate in terms of size and institutional heterogeneity. Our results remain stable after controlling for endogeneity concerns, selection bias, omitted variables bias, legal and institutional differences across countries and over time through several econometric techniques. Moreover, our results are not driven by: i) the holding period of the different types of VC investors; ii) the potential signaling effect of GVC towards IVC investors; iii) the firm's financial structure and net cash-flow ratio; iv) the investment stage; v) the distance between the VC investor and the target company.

Venture Capital

2004 Business & Economics
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Release : 2004
Genre : Business & Economics
Kind : eBook
Book Rating : 343/5 ( reviews)

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Book Synopsis Venture Capital by : Stefano Caselli

Download or read book Venture Capital written by Stefano Caselli. This book was released on 2004. Available in PDF, EPUB and Kindle. Book excerpt: Venture Capital. A Euro-System Approach covers a wide spectrum of topics. These include: how venture capital really works, the relations between venture capital, corporate banking and stock exchanges, market trends in Europe and the US, legal issues related to the creation of venture capital firms and closed end funds, and finally regulatory and economic policy issues. The book is based on a strong link between a rigorous methodological approach and real world best practices of venture capitalists - thanks to a team of contributors formed by both academics and professionals of various fields.

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