Understanding the Economic Value of Legal Covenants in Investment Contracts: A Real-Options Approach to Venture Equity Contracts

This paper investigates four common features (covenants) of venture capital investment contracts from a real option perspective, using both analytical solutions and numerical analysis to draw inferences for a better understanding of contract features.

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Year of publication:	2002-10-01
Authors:	Cossin, Didier ; Leleux, Benoît ; Saliasi, Entela
Publisher:	International Center for Financial Asset Management and Engineering (FAME) <Genf>
Subject:	Risikokapital \| risk capital \| Unternehmensbewertung \| Kontrakttheorie \| Vereinbarung \| framework \| Vertrag

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1. Introduction
2. Literature review
3. General framework
4. The Liquidation preference and convertibility feature
5. Staged financing
6. Antidilution
7. Full contract valuation with features interaction
8. Conclusion and remarks

Persistent link: https://www.econbiz.de/10005843400