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Venture Capital. Investment Strategies, Structures, and Policies. Robert W. Kolb Series

  • ID: 2241745
  • Book
  • June 2010
  • 592 Pages
  • John Wiley and Sons Ltd
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Venture Capital

The Robert W. Kolb Series in Finance is an unparalleled source of information dedicated to the most important issues in modern finance. Each book focuses on a specific topic in the field of finance and contains contributed chapters from both respected academics and experienced financial professionals. As part of the Robert W. Kolb Series in Finance, Venture Capital aims to provide 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, limited partnerships, corporate funds, and government funds due diligence, financial contracts and monitoring, the efficiency implications of VC investment, investment returns and performance, international differences in venture capital markets, and regulation and public policy. This book is organized into five parts, which collectively cover each of these areas in detail.

Understanding the various aspects of venture capital is something anyone in any industry should be familiar with. This informative guide will help you discover its true potential.

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1 Introduction to the Companion to Venture Capital 1Douglas Cumming

PART I Alternative Forms of Venture Capital 7

2 Venture Capitalists Decision Making: An Information Processing Perspective 9Andrew Zacharakis

3 Banks Versus Venture Capital in the Financing of New Ventures 31Jean Etienne de Bettignies

4 Corporate Venture Capital 51Vladimir I. Ivanov and Fei Xie

5 Angel Finance: The Other Venture Capital 71Andrew Wong

6 Business Incubation and Its Connection to Venture Capital 111Darek Klonowski

7 Philanthropic Venture Capital: A New Model of Financing for Social Entrepreneurs 131Luisa Alemany and Mariarosa Scarlata

PART II The Structure of Venture Capital Investments 151

8 Financial Contracts and Venture Capitalists Value–Added 153Catherine Casamatta

9 Venture Capitalists, Monitoring and Advising 169Roberta Dessi

10 Project Externalities and Moral Hazard 191Dima Leshchinskii

11 Doing It Not Alone: Antecedents, Dynamics, and Outcomes of Venture Capital Syndication 221Dirk De Clercq and Dimo Dimov

PART III Venture Capital Value–Added and Conflicts 243

12 Time to Grow Up: Large Sample Evidence on the Maturation Dynamics of Private Venture–Backed Firms 245John R. M. Hand

13 How Do Venture Capitalists Create Value for Entrepreneurial Firms? A Review of the Literature 277Thomas J. Chemmanur, Karthik Krishnan, and Debarshi Nandy

14 Venture Capital and Innovation 299Masako Ueda

15 Reputation in Financial Intermediation: Evidence from Venture Capital 319Rajarishi Nahata

16 Investor Opportunism, and Governance in Venture Capital 347Brian Broughman

17 Conflicts of Interest and Litigation in the Venture Capital Industry 365Vladimir Atanasov

PART IV Venture Capital Exits and Returns 387

18 Venture Capital Exits 389Armin Schwienbacher

19 Returns to Venture Capital 407Mike Wright and Riya Chopraa

20 Venture Capitalists Control: Stimulating or Stunting? 439April Knill

PART V International Venture Capital and Public Policy 471

21 Cross–Border Venture Capital and Private Equity 473Markku V. J. Maula

22 The Canadian Public Venture Capital Market 501Cécile Carpentier and Jean–Marc Suret

23 Public Policy, Venture Capital, and Entrepreneurial Finance 525Christian Keuschnigg

24 Twelve Meditations on Venture Capital 553Gordon Murray and David Lingelbach

Index 585

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DOUGLAS CUMMING, CFA, PhD, JD, is an Associate Professor of Finance and Entrepreneurship and the Ontario Research Chair at the Schulich School of Business, York University. His research is primarily focused on law and finance, market surveillance, hedge funds, venture capital, private equity, and IPOs, and he has published over fifty refereed articles in leading journals. Cumming was the recipient of the 2009 Canadian Institute of Chartered Business Valuators Research Award, the 2008 Paolo Baffi Centre on Central Banking and Financial Regulation Research Award, the 2008 AIMA Canada–Hillsdale Research Award, the 2005 PWC Global Competency Research Excellence Award, and the 2004 Iddo Sarnat Annual Memorial Award for the best paper published in the Journal of Banking and Finance. He is a research associate with numerous financial and educational groups, and consults for a variety of governmental and private organizations, including Wilshire Associates. Cumming is coauthor (along with his wife, Sofia Johan) of the new bookVenture Capital and Private Equity Contracting: An International Perspective.
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