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Deal Selection and Investor Value-Added in Entrepreneurial Equity Financing

New Evidence from Venture Capital and Crowdfunding
Autor:innen:
Verlag:
 2020

Zusammenfassung

Dieses Buch präsentiert empirische Analysen zur Investitionsauswahl und Wertstiftung von Risikokapitalgebern. Die Ergebnisse zeigen, dass Unternehmen, die eine Equity-Crowdfunding-Finanzierung nutzen, in der Folge geringeren unternehmerischen Erfolg erzielen als vergleichbare Unternehmen, die auf eine traditionelle Risikokapital-Finanzierung zurückgreifen. Die Ergebnisse legen nahe, dass dieser negative Effekt durch die vergleichsweise geringere Wertstiftung von Equity-Crowdfunding-Investoren verursacht wird. Weitere Analysen zeigen, dass die Branchenspezialisierung von Venture-Capital-Investoren gegenläufige Effekte auf deren Fähigkeit zur Investitionsauswahl und Wertstiftung hat. Es zeigt sich, dass größere Branchenspezialisierung Investoren besser befähigt, potenzialstarke Unternehmen in der jeweiligen Branche auszuwählen, aber ihrer Wertstiftung abträglich ist. Diese Effekte haben auch nachweisebare Implikationen auf die Bildung und Zusammensetzung von Investitionssyndikaten.

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Bibliographische Angaben

Auflage
1/2020
Copyrightjahr
2020
ISBN-Print
978-3-8487-6632-1
ISBN-Online
978-3-7489-0712-1
Verlag
Nomos, Baden-Baden
Sprache
Englisch
Seiten
175
Produkttyp
Monographie

Inhaltsverzeichnis

KapitelSeiten
  1. Titelei/Inhaltsverzeichnis Kein Zugriff 1 - 16
    1. 1.1 Research Topic and Motivation Kein Zugriff
    2. 1.2 Structure of the Dissertation Kein Zugriff
    1. 2.1 Theoretical Background Kein Zugriff
      1. 2.2.1 Investor Value-added in Equity Crowdfunding Kein Zugriff
      2. 2.2.2 Specialisation, Screening and Value-added Kein Zugriff
      3. 2.2.3 Specialisation and VC Syndication Kein Zugriff
      1. 3.1.1 Literature on Crowdfunding Kein Zugriff
      2. 3.1.2 Literature on Traditional Investor’s Value-added Kein Zugriff
    2. 3.2 Hypothesis Development Kein Zugriff
      1. 3.3.1 Data Source Kein Zugriff
      2. 3.3.2 Dependent Variables Kein Zugriff
      3. 3.3.3 Independent Variables and Controls Kein Zugriff
      4. 3.3.4 Sample Construction and Matching Procedure Kein Zugriff
      5. 3.3.5 Empirical Methodology Kein Zugriff
      1. 3.4.1 Sample Overview and Univariate Tests Kein Zugriff
      2. 3.4.2 OLS Results and Tests for Endogeneity Kein Zugriff
      3. 3.4.3 Analyses Accounting for Endogeneity of Financing Choice Kein Zugriff
      4. 3.4.4 Additional Analyses and Robustness Checks Kein Zugriff
    5. 3.5 Discussion Kein Zugriff
    6. 3.6 Conclusion Kein Zugriff
      1. 4.1.1 Literature on VC Investment Selection and Value-added Kein Zugriff
      2. 4.1.2 Literature on Specialisation Kein Zugriff
    2. 4.2 Hypotheses Development Kein Zugriff
      1. 4.3.1 Dataset and Sample Construction Kein Zugriff
      2. 4.3.2 Dependent Variable Definitions Kein Zugriff
      3. 4.3.3 Independent Variable Definitions Kein Zugriff
      4. 4.3.4 Other Independent Variables and Controls Kein Zugriff
      5. 4.3.5 Empirical Methodology Kein Zugriff
      1. 4.4.1 Sample Overview and Univariate Tests Kein Zugriff
      2. 4.4.2 Regression Analyses Kein Zugriff
      3. 4.4.3 Further Analyses and Robustness Checks Kein Zugriff
    5. 4.5 Discussion Kein Zugriff
    6. 4.6 Conclusion Kein Zugriff
    1. 5.1 Literature Review Kein Zugriff
    2. 5.2 Hypotheses Development Kein Zugriff
      1. 5.3.1 Dataset Kein Zugriff
        1. Sample construction, variables and methods for analyses on syndicate formation Kein Zugriff
        2. Sample construction, variables and methods for analysis on syndicate partner choice Kein Zugriff
      3. 5.3.3 Sample Overview and Descriptive Statistics Kein Zugriff
    4. 5.4 Empirical Analyses and Results Kein Zugriff
    5. 5.5 Discussion Kein Zugriff
    6. 5.6 Conclusion Kein Zugriff
    1. 6.1 Theoretical Contribution Kein Zugriff
    2. 6.2 Practical Contribution Kein Zugriff
  8. 7. References Kein Zugriff 151 - 164
    1. Abstract Kein Zugriff
    2. Abstract – German Version Kein Zugriff

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