Agency Risk and Firm Valuation : An Empirical Analysis of Venture Capitalists’ Private Expectations

This study empirically evaluates the price impact of agency risk in firm valuation. Using aunique data set comprised of internal valuation documents, we find that venture capitalistsuse risk discounts to cope with expected agency risks...

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Authors:	Hartmann-Wendels, Thomas ; Keienburg, Georg ; Sievers, Soenke
Institutions:	Corporate Finance Seminar <Köln>
Subject:	Risikokapital \| risk capital \| Unternehmensbewertung

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Extent:	320512 bytes 43 p. application/pdf
Series:	Corporate Finance Seminar - Veröffentlichungen
Type of publication:	Book / Working Paper
Language:	English
Classification:	G24 - Investment Banking; Venture Capital; Brokerage ; G34 - Mergers; Acquisitions; Restructuring; Corporate Governance ; Procurement of capital. General ; valuation of an enterprise ; Individual Working Papers, Preprints ; Germany. General Resources
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005866808