| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3329 |
| DP3329 Pricing Credit Derivatives with Rating Transitions | |
| Sanjiv Ranjan Das; Viral Acharya; Rangarajan K Sundaram | |
| 发表日期 | 2002-04-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | We study the investment analyses of 67 portfolio investments by 11 venture capital (VC) firms. VCs consider the attractiveness and risks of the business, management, and deal terms as well as expected post-investment monitoring. We then consider the relation of the analyses to the contractual terms. Greater internal and external risks are associated with more VC cash flow rights, VC control rights; greater internal risk, also with more contingencies for the entrepreneur; and greater complexity, with less contingent compensation. Finally, expected VC monitoring and support are related to the contracts. We interpret these results in relation to financial contracting theories. |
| 主题 | Financial Economics |
| 关键词 | Investment banking Venture capital Financing policy Capital and ownership structure Brokerage |
| URL | https://cepr.org/publications/dp3329 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532353 |
| 推荐引用方式 GB/T 7714 | Sanjiv Ranjan Das,Viral Acharya,Rangarajan K Sundaram. DP3329 Pricing Credit Derivatives with Rating Transitions. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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