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Patent Collateral, Investor Commitment, and the Market for Venture Lending

Hochberg, Yael V.; Serrano, Carlos J.; Ziedonis, … - 2016

The use of debt to finance risky entrepreneurial-firm projects is rife with informational and contracting problems. Nonetheless, we document widespread lending to startups in three innovation-intensive sectors and in early stages of development. At odds with claims that the secondary patent...

Persistent link: https://www.econbiz.de/10014141764

What Is a Patent Worth? Evidence from the U.S. Patent 'Lottery'

Farre-Mensa, Joan; Hegde, Deepak; Ljungqvist, Alexander - 2019

access to funding from VCs, banks, and public investors …

Persistent link: https://www.econbiz.de/10014035484

Does family matter? : venture capital cross-fund cash flows

Kräussl, Roman; Rinne, Kalle; Sunc, Huizhu - 2022

Venture capital (VC) funds backed by large multi-fund families tend to perform substantially better due to cross-fund cash flows (CFCFs), a liquidity support mechanism provided by matching distributions and capital calls within a VC fund family. The dynamics of this mechanism coincide with the...

Persistent link: https://www.econbiz.de/10013555504

Credit risk versus capital requirements under Basel II : are SME loans and retail credit really different?

Jacobson, Tor; Lindé, Jesper; Roszbach, Kasper - 2004

banks using a non-parametric Monte Carlo re-sampling method following Carey [1998]. Our results are based on a panel data … set containing both loan and internal rating data from the banks complete business loan portfolios over the period 1997 … businesses in the sample is rated by both banks, we can generate loss distributions for SME, retail and corporate credit …

Persistent link: https://www.econbiz.de/10011583864

Gender, investment financing and credit constraints

Pelger, Ines - 2011 - 1. draft, December 2011

This paper provides the first evidence on gender differences in investment financing, credit application and credit denial rates in Germany. The empirical analysis is carried out on a sample of firms drawn from the KfW Mittelstandspanel, a representative survey of German SMEs for the period from...

Persistent link: https://www.econbiz.de/10009411260

Does venture capital investment spur employment growth?

Belke, Ansgar; Fehn, Rainer; Foster-McGregor, Neil - 2003

Anglo-Saxon countries have been successful in the 1990s concerning labor market performance compared to the former role models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial markets with bank-based financial markets as in Germany...

Persistent link: https://www.econbiz.de/10011507850

Venture capital investment and labor market performance : a panel data analysis

Belke, Ansgar; Fehn, Rainer; Foster-McGregor, Neil - 2001

Labor market performance has differed considerably between OECD countries over the last two decades. The focus of the literature so far has been to ask whether these differences can be explained by varying degrees of labor market rigidities and generosity of welfare states. This paper takes a...

Persistent link: https://www.econbiz.de/10010496600

Institutions and structural unemployment : do capital-market imperfections matter?

Belke, Ansgar; Fehn, Rainer - 2001

This paper analyzes whether differences in institutional structures on capital markets contribute to explaining why some OECD-countries, in particular the Anglo-Saxon countries, have been much more successful over the last two decades in producing employment growth and in reducing unemployment...

Persistent link: https://www.econbiz.de/10011398923

Is the behavior of German venture capitalists different? : evidence from the Neuer Mark

Tykvová, Tereza - 2003

Using a unique, hand-collected database of all venture-backed firms listed on Germany's Neuer Markt, we analyze the history of venture capital financing of these firms before the IPO and the behavior of venture capitalists at the IPO. We can detect significant differences in the behavior and...

Persistent link: https://www.econbiz.de/10009765361

Underpricing of venture-backed and non venture-backed IPOs : Germany's Neuer Markt

Franzke, Stefanie A. - 2003 - This version: November 6, 2003

This paper analyzes a comprehensive data set of 160 non venture-backed, 79 venture-backed and 61 bridge financed companies going public at Germany´s Neuer Markt between March 1997 and March 2002. I examine whether these three types of issues differ with regard to issuer characteristics, balance...

Persistent link: https://www.econbiz.de/10009767675

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