Managerial Finance: Volume 20 Issue 1

The Level and Nature of Venture Capitalist Involvement in Their Portfolio Companies: A Study of Three European Countries

Harry J. Sapienza, Allen C. Amason, Sophie Manigart

This research was funded in part by the Center for International Business Research, University of South Carolina.

The Relationship Between Venture Capitalists and Managers in New Firms: Determinants of Contractual Covenants

J.B. Barney, Lowell Busenitz, Jim Fiet, Doug Moesel

Two types of opportunism, managerial and competitive, are described. Contractual covenants that control these types of opportunism are used when they are likely to occur, i.e.…

Bank Entry Into the Venture Capital Industry

James O. Fiet, Donald R. Fraser

This study explores the potential benefits and costs of bank entry into venture capital investing. Data are obtained from a survey of banking organizations regarding their…

Mergers and Acquisitions: A Means of Harvesting the Venture

J.William Petty, Joel Shulman, William E. Bygrave

The harvesting of a venture is one of the more significant events in the life of an entrepreneurial firm and its owner. Little is known about this process beyond anecdotal…

Evaluating the Venture Capital Fund Agreement

David J. Brophy, Michael R. Haessler

The purpose of this paper is to demonstrate how probabilistic simulation can be used to assist prospective general partners (GP) and limited partners (LP) of a venture capital…

Small Growth Firms, Venture Capital and Financial System Trends

James W. Kolari

The turbulent decade of the 1980s completely restructured the financial system of the 1990s. Deregulation and rising competition led to record numbers of failures among depository…