Resource title

Venture Capitalists Investment Incentives Under Public Equity Schemes

Resource image

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Resource description

This paper analyses the impact of public equity schemes on venture capitalist?s incentives to finance start-up enterprises and to support the management teams. In a double-sided moral hazard model, it is shown that experienced venture capitalists, who have already financed start-up enterprises, reduce their intensity of management support under public equity schemes. However, public equity offers inexperienced venture capitalists, who have not yet financed start-up enterprises because of insuf-ficient experience, incentives to enter the venture capital market so that they can start to accumulate experience.

Resource author

Andrea Schertler

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/17781

Resource license

Adapt according to the presented license agreement and reference the original author.