EAN: 9783954891900

ENTREPRENEURS CHOICE BETWEEN VENTURE CAPITALIST...

The study extends the literature on venture capital by examining whether entrepreneur s choice
for an external investor and certain firm characteristics have an impact on venture success or
not. The focus is set on the differences in value creation by venture capitalists and business
angels for ventures of the high- and low-technology sector. The assessment of a data set
including 252 Series A financing rounds by venture capitalist firms  business angels and
collaborative investments of both investors conducted between 2005 and 2012 unveils value
enhancing aspects for all three financing solutions. Overall  start-ups initially financed by
venture capitalist firms perform best with regard to general venture success  whereas start-ups
collaboratively supported by venture capitalists and business angels have the highest chances
to exit successfully through a trade sale. It becomes further apparent that ventures located in
one of the high-technology industries internet   pharmaceuticals and high-tech   ventures that
are longer established in the market and ventures whose Series A financing round was executed
more recently indicate an enhanced likelihood of success.

Aktuelle Preise zur EAN 9783954891900

Produktinformationen zur 9783954891900