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dc.contributor.authorTykvová, Terezaen_US
dc.date.accessioned2009-02-16T14:47:43Z-
dc.date.available2009-02-16T14:47:43Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/24001-
dc.description.abstractIn this paper, we analyze the investment and divestment patterns of different types of venture capitalists. Using a data set em- bracing all venture-backed IPOs that occurred on Germany's Neuer Markt we investigate whether the governance structures, objectives, abilities and track records of different types of venture capitalists have a decisive influence on their behavior. Our main finding is that signifi- cant differences among the different types of venture capitalists exist. The behavior of independent and corporate venture capitalists is more similar to that of US funds whereas bank-dependent and public ven- ture capitalists typically are bridge investors rather than true venture capitalists. Our findings may be interesting for policy makers, for companies that seek capital and for venture capitalists who look for syndication partners.en_US
dc.language.isoengen_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheimen_US
dc.relation.ispartofseriesZEW Discussion Papers 04-16en_US
dc.subject.jelD82en_US
dc.subject.jelG24en_US
dc.subject.jelG32en_US
dc.subject.ddc330en_US
dc.subject.keywordVenture Capitalen_US
dc.subject.keywordIPOen_US
dc.subject.keywordHeterogeneityen_US
dc.subject.stwRisikokapitalen_US
dc.subject.stwNeuer Markten_US
dc.subject.stwWertpapieremissionen_US
dc.subject.stwAnlageverhaltenen_US
dc.subject.stwDeutschlanden_US
dc.titleWho Are the True Venture Capitalists in Germany?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn378722824en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zewdip:1602-
Appears in Collections:Publikationen von Forscherinnen und Forschern des ZEW
ZEW Discussion Papers

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