Venture Capital Investment

Zusatztext '...the author provides a wealth of new information and sheds new light on the workings of the British venture capital market...above all! the study raises many new questions to which future researchers should turn their attention' - Anrea Schertler! Review of World Economics'...this book represents an exciting initial step in our empirical understanding of the British venture industry.' - Josh Lerner! Harvard University and National Bureau of Economic Research! USA'Gavin Reid's Venture Capital Investment is a welcome addition to the literature' -- Josh Lerner! Harvard University and National Bureau of economic Research! USA Informationen zum Autor Gavin Reid Klappentext Gavin Reid presents a systematic analysis of what drives investor-investee relations in venture capital markets. In the first analytical work to use a unified framework, he draws upon a modern and general approach to contracting relations, namely principal-agent analysis. This book establishes a clear theoretical framework involving risk management, information handling and the 'trading' of risk and information. Using powerful modern theory as a general and coherent frame of reference to analyse an extensive body of new evidence, the author shows how top investors manage risk and monitor investees, and examines the best relationship between investor and investee. Exploring the principles governing high-risk/high-return investment, this is a unique insight into the turbulent world of the venture capitalist. Zusammenfassung This book consists of a series of in depth case studies of investor-investee relations, based on extensive empirical research and organized around the principal-agent method, which provide valuable insights into modern UK venture capital practice. Inhaltsverzeichnis PART 1 Background 1 The analysis of venture capital practice 2 Venture capital Appendix: The impact of the VCI on the MSF's value and risk 3 Investigating investor-investee relations 4 Principles of agency analysis PART 2 Evidence 5 Instrumentation 6 Fieldwork 7 Investor and investee characteristics PART 3 Cases 8 Case study J: independent principal 9 Case study H: principal a banking subsidiary 10 Case study G: principal public sector owned PART 4 Analysis 11 Risk management 12 The demand for information by investors 13 The supply of venture capital and the development of investees' accounting information systems 14 Seeking optimality through the exchanging of risk and Information, Epilogue...

Auteur

Gavin Reid

Texte du rabat

Gavin Reid presents a systematic analysis of what drives investor-investee relations in venture capital markets. In the first analytical work to use a unified framework, he draws upon a modern and general approach to contracting relations, namely principal-agent analysis. This book establishes a clear theoretical framework involving risk management, information handling and the 'trading' of risk and information. Using powerful modern theory as a general and coherent frame of reference to analyse an extensive body of new evidence, the author shows how top investors manage risk and monitor investees, and examines the best relationship between investor and investee. Exploring the principles governing high-risk/high-return investment, this is a unique insight into the turbulent world of the venture capitalist.

Résumé
This book consists of a series of in depth case studies of investor-investee relations, based on extensive empirical research and organized around the principal-agent method, which provide valuable insights into modern UK venture capital practice.

Contenu
PART 1 Background 1 The analysis of venture capital practice 2 Venture capital Appendix: The impact of the VCI on the MSF's value and risk 3 Investigating investor-investee relations 4 Principles of agency analysis PART 2 Evidence 5 Instrumentation 6 Fieldwork 7 Investor and investee characteristics PART 3 Cases 8 Case study J: independent principal 9 Case study H: principal a banking subsidiary 10 Case study G: principal public sector owned PART 4 Analysis 11 Risk management 12 The demand for information by investors 13 The supply of venture capital and the development of investees' accounting information systems 14 Seeking optimality through the exchanging of risk and Information, Epilogue