Tatomir Deal Selection and Investor Value-Added in Entrepreneurial Equity Financing

New Evidence from Venture Capital and Crowdfunding
1. Auflage 2020
ISBN: 978-3-7489-0712-1
Verlag: Nomos
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 175 Seiten, Format (B × H): 153 mm x 227 mm

This book presents empirical analyses which investigate entrepreneurial equity investors’ investment choices and value-added to portfolio companies. The results suggest that equity-crowdfunded companies’ subsequent performance is causally negatively affected compared to peers that use traditional entrepreneurial equity financing, since equity crowdfunders add less value to portfolio companies than venture capitalists and business angels. Additional analyses suggest that venture capital investors’ specialisation in certain branches of industry has opposite effects on their ability to select companies with high potential and add value to them. High levels of industry specialisation positively affect venture capitalists’ ability to select companies with high potential but are detrimental to investors’ value-added. These effects also have demonstrable implications for the formation and composition of investment syndicates.

Autoren/Hrsg.

Tatomir, Simon

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Unternehmensfinanzierung
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen Finanzierung, Investition, Leasing