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dc.contributor.authorTykvová, Terezaen
dc.date.accessioned2009-02-16T14:47:43Z-
dc.date.available2009-02-16T14:47:43Z-
dc.date.issued2004-
dc.identifier.urihttp://hdl.handle.net/10419/24001-
dc.description.abstractIn this paper, we analyze the investment and divestmentpatterns of different types of venture capitalists. Using a data set em-bracing all venture-backed IPOs that occurred on Germany's NeuerMarkt we investigate whether the governance structures, objectives,abilities and track records of different types of venture capitalists havea 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 moresimilar to that of US funds whereas bank-dependent and public ven-ture capitalists typically are bridge investors rather than true venturecapitalists. Our findings may be interesting for policy makers, forcompanies that seek capital and for venture capitalists who look forsyndication partners.en
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x04-16en
dc.subject.jelD82en
dc.subject.jelG24en
dc.subject.jelG32en
dc.subject.ddc330en
dc.subject.keywordVenture Capitalen
dc.subject.keywordIPOen
dc.subject.keywordHeterogeneityen
dc.subject.stwRisikokapitalen
dc.subject.stwNeuer Markten
dc.subject.stwWertpapieremissionen
dc.subject.stwAnlageverhaltenen
dc.subject.stwDeutschlanden
dc.titleWho Are the True Venture Capitalists in Germany?-
dc.typeWorking Paperen
dc.identifier.ppn378722824en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:1602en

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