The optimal portfolio of start-up firms in venture capital finance

Vesa Kanniainen; Christian Keuschniggp

A venture capitalist faces a trade-off between the extent of managerial advice allocated to each start-up and the total number of firms advised. Diminishing returns to advice per firm call for a larger portfolio. As advice gets diluted, further expansion of the portfolio eventually becomes unprofitable.

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Year of publication:	2000
Authors:	Kanniainen, Vesa ; Keuschnigg, Christian
Publisher:	München : CESifo
Subject:	venture capital finance \| double-sided moral hazard \| company portfolio \| Theorie \| Theory \| Portfolio-Management \| Portfolio selection \| Unternehmensgründung \| Business start-up \| Risikokapital \| Venture capital \| Moral Hazard \| Moral hazard

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Extent:	Online-Ressource (10 S.)
Series:	CESifo working papers. - München : [Verlag nicht ermittelbar], ISSN 2364-1428, ZDB-ID 2065232-X. - Vol. 381
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	hdl:10419/75620 [Handle]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10009786720