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http://hdl.handle.net/10419/18442
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| Title: | | Informed Capital in a Hostile Environment: The Case of Relational Investors in Germany  |
| Authors: | | Schäfer, Dorothea Schilder, Dirk |
| Issue Date: | | 2006 |
| Series/Report no.: | | DIW-Diskussionspapiere 549 |
| Abstract: | | Informed capital is a crucial ingredient to a well-functioning market for start-up finance, especially in times of difficult market conditions. For bank-based systems, the question regarding which investors actually supply informed capital has not yet been answered. To fill this gap, we conduct a survey among German suppliers of start-up finance. We find significant differences between the investors which are linked to banks and those financiers which are not. Although, the bankrelated group, including public equity suppliers, delivers some sort of informed capital, venture capital companies and Business Angels are the key providers of informed capital in the German market for start-up finance. |
| Subjects: | | informed capital start-up financing venture capital banks information |
| JEL: | | G21 M13 O16 D21 G24 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des DIW DIW-Diskussionspapiere
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