| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w8764 |
| 来源ID | Working Paper 8764 |
| Characteristics, Contracts, and Actions: Evidence from Venture Capitalist Analyses | |
| Steven N. Kaplan; Per Stromberg | |
| 发表日期 | 2002-02-07 |
| 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 ; Financial Institutions ; Corporate Finance |
| URL | https://www.nber.org/papers/w8764 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/566371 |
| 推荐引用方式 GB/T 7714 | Steven N. Kaplan,Per Stromberg. Characteristics, Contracts, and Actions: Evidence from Venture Capitalist Analyses. 2002. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w8764.pdf（300KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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