Evidence on the “funding gap” for investment innovation is surveyed. The focus is on financial market reasons for underinvestment that exist even when externality-induced underinvestment is absent. We conclude that while small and new innovative firms experience high costs of capital that...

Marko Bender analyzes the impact of spatial proximity between venture capitalists and new ventures throughout the investment process. He elaborates a comprehensive theoretical framework and empirically validates resulting hypotheses concerning the observed spatial proximity and the impact of...

Jil C. Onimus makes a contribution to the nascent research line on the economic value of venture capital contracts which lies at the intersection of venture capital contract design and real option pricing. She identifies the baskets of real options embedded in model venture capital contracts as...

Venture Capital spielt für den Erfolg von Gründungsvorhaben eine entscheidende Rolle. Dabei auftretende Interessenkonflikte zwischen Gründern und Investoren schlagen sich in umfangreichen und komplexen Verträgen nieder. Auf der Basis zahlreicher Interviews mit etablierten Persönlichkeiten...

Hortense Tarrade analyses over 200,000 venture capital (VC) investments over the past 20 years to understand the investors' motivation to select national or foreign companies into their portfolio. She compares the sensitivity of US-based, non-US and German VC firms to the availability of local...

Ch1 The Background of Hometown Investment Trust Funds (Naoyuki Yoshino) -- Ch2 Supply of Risk Capital for Regional Development in Japan (Atsuo Akai) -- Ch3 Hometown Investment Trust Funds in Japan (Masami Komatsu) -- Ch4 Hometown Investment Trust Funds for Regional Development (Norifumi...

Zwar nutzten Unternehmen in den letzten Jahren verstärkt Corporate-Venture-Capital-Programme, doch blieb die wissenschaftliche Diskussion zu Zielsetzungen und stategischen Wirkungen solcher Programme bisher begrenzt. Behrend Freese geht der Frage nach, welchen strategischen Mehrwert...