Edition:
2. ed.
Edition:
Online-Ausg. 2013 Online-Ressource Online-Ausg. Online-Ressource
ISBN:
9780124095373
,
0124095968
,
1299808336
,
9780124095960
,
9781299808331
Content:
Other books present corporate finance approaches to the venture capital and private equity industry, but many key decisions require an understanding of the ways that law and economics work together. This revised and updated 2e offers broad perspectives and principles not found in other course books, enabling readers to deduce the economic implications of specific contract terms. This approach avoids the common pitfalls of implying that contractual terms apply equally to firms in any industry anywhere in the world. In the 2e, datasets from over 40 countries are used to analyze and consider limited partnership contracts, compensation agreements, and differences in the structure of limited partnership venture capital funds, corporate venture capital funds, and government venture capital funds. There is also an in-depth study of contracts between different types of venture capital funds and entrepreneurial firms, including security design, and detailed cash flow, control and veto rights. The implications of such contracts for value-added effort and for performance are examined with reference to data from an international perspective. With seven new or completely revised chapters covering a range of topics from Fund Size and Diseconomies of Scale to Fundraising and Regulation, this new edition will be essential for financial and legal students and researchers considering international venture capital and private equity. An analysis of the structure and governance features of venture capital contractsIn-depth study of contracts between different types of venture capital funds and entrepreneurial firmsPresents international datasets from over 40 countries around the worldAdditional references on a companion websiteContains sample contracts, including limited partnership agreements, term sheets, shareholder agreements, and subscription agreements
Content:
Other books present corporate finance approaches to the venture capital and private equity industry, but many key decisions require an understanding of the ways that law and economics work together. This revised and updated 2e offers broad perspectives and principles not found in other course books, enabling readers to deduce the economic implications of specific contract terms. This approach avoids the common pitfalls of implying that contractual terms apply equally to firms in any industry anywhere in the world. In the 2e, datasets from over 40 countries are used to analyze and consider l
Note:
Includes bibliographical references
,
Front Cover; Venture Capital and Private Equity Contracting; Copyright Page; Contents; Preface; A Brief Note on Organization and Data; One: Introduction; 1 Introduction and Overview; 1.1 What is Venture Capital and Private Equity?; 1.2 How Does Venture Capital and Private Equity Differ from Alternative Sources of Capital?; 1.3 How Large Is the Market for Venture Capital and Private Equity?; 1.4 State of the Venture Capital Market Pre- and Postfinancial Crisis; 1.4.1 The Effect of the Crisis on a Venture Capital Industry Already in Distress; 1.4.2 Crisis Leading to Opportunities?
,
1.4.3 Summary1.5 What Issues Are Relevant to the Study of Venture Capital and Private Equity?; 1.5.1 Information Asymmetries and Agency Problems; 1.5.2 International Institutional and Legal Context, and Empirical Methods; 1.5.3 How to Attract Institutional Investors?; 1.5.4 How are Funds Structured?; 1.5.5 How Well Are Fund Managers Compensated?; 1.5.6 Style Drift; 1.5.7 Listed Private Equity; 1.5.8 What Role for Government?; 1.5.9 Time to Invest: The Process; 1.5.10 What Security?; 1.5.11 How Do Exit Expectations Influence Financial Contracts?
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1.5.12 How Do Legal Conditions Affect Venture Capital Governance?1.5.13 What Influences Investor Effort?; 1.5.14 Do Contracts Ensure Effort?; 1.5.15 Where to Invest?; 1.5.16 How Many Investments?; 1.5.17 Are There Diseconomies of Scale with Fund Size?; 1.5.18 Time to Divest: The Process; 1.5.19 When to Divest?; 1.5.20 What Exit Vehicle?; 1.5.21 Valuation and Disclosure; Key Terms; Discussion Questions; 2 Overview of Agency Theory, Empirical Methods, and Institutional Contexts; 2.1 Introduction and Learning Objectives; 2.2 Forms of Finance; 2.2.1 Debt; 2.2.2 Preferred Equity
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2.2.3 Common Equity2.2.4 Warrants; 2.3 Agency Problems; 2.3.1 Moral Hazard; 2.3.2 Bilateral Moral Hazard; 2.3.3 Multitask Moral Hazard; 2.3.4 Adverse Selection; 2.3.5 Free Riding; 2.3.6 Hold-Up; 2.3.7 Trilateral Bargaining; 2.3.8 Window Dressing; 2.3.9 Underinvestment; 2.3.10 Asset Stripping; 2.3.11 Risk Shifting; 2.4 Does Mitigating Agency Problems Enhance Firm Value?; 2.5 Summary and Steps Forward in Remaining Chapters; Key Terms; Discussion Questions; 3 Overview of Institutional Contexts and Empirical Methods; 3.1 Introduction and Learning Objectives
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3.2 An Overview of the International Institutional and Legal Context3.3 Statistics and Econometrics Used in This Book; 3.3.1 Why Use Statistics and Econometrics and not Case Studies?; 3.3.2 What Are the Steps in Analyzing Data?; Representativeness; Descriptive Statistics; Comparison Tests and Correlations; Regression Analyses; Robustness Checks; 3.4 Summary; Key Terms; Key Statistical and Econometric Terms; Two: Fund Structure and Governance; 4 Fundraising and Regulation; 4.1 Introduction and Learning Objectives; 4.2 Institutional Investor Objectives from Investment in Private Equity
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4.3 Regulation of Institutional Investors and Fund Managers
,
Online-Ausg. Online-Ressource
Additional Edition:
Erscheint auch als Druck-Ausgabe Venture capital and private equity contracting
Language:
English
Subjects:
Economics
Keywords:
Risikokapital
;
Private Equity
;
Unternehmen
;
Finanzierung
;
Electronic books
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