Venture Capital in Europe

Venture Capital in Europe

1st Edition - October 19, 2006
This is the Latest Edition
  • Authors: Greg Gregoriou, Maher Kooli, Roman Kraeussl
  • eBook ISBN: 9780080466071

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Description

Until recently, only the United States had an active venture capital market. This is changing rapidly, as many other countries have experienced rapid growth in venture capital financing over the past five years. This book contains new scientific articles showcasing the latest research on venture capital in Europe. Venture capital investment remains a hot topic with portfolio managers, individual investors, academics worldwide. This book examines in detail all the major issues regarding venture capital investment: contracting, financing, regulation, valuation, etc. and identifies new trends in the venture capital arena. Features a foreword by Josh Lerner.

Key Features

*The only book in which academics from around the world present the latest research on venture capital in Europe
*Covers all of Europe as well as including overview papers about venture capital industry, public and private venture capital, valuation, financing, contracting, structuring, regulation, etc.
*Comprehensive, authoritative coverage

Readership

Primary audience: Professionals, academics, and graduate students in finance
Specifically: Institutional investors looking for new investment, legal staff of corporations
Interested in current trends in venture capital financing, and academics looking for new research on venture capital. Secondary readership:
Professional organizations and securities regulators specializing in alternative investment; students in courses on corporate finance, international finance, entrepreneurial finance and alternative investments (book would be supplemental text).

Table of Contents

  • 1 Venture capital in Europe: closing the gap to the U.S.
    Andreas Oehler, Kuntara Pukthuanthong, Marco Rummer, and Thomas Walker
    2 Public venture capital across Europe: a 15-year perspective
    Christof Beuselinck and Sophie Manigart
    3 Why are venture capital markets well developed in some countries but comparatively small in others: evidence from Europe
    Kuntara Pukthuanthong, Dolruedee Thiengtham, and Thomas Walker

    4 A survey of the venture capital industry in Central and Eastern Europe
    Rachel A. Campbell and Roman Kräussl
    5 Venture capital in European transition economies
    Robert W. McGee
    6 Recommendations for the development of a European Venture Capital regulatory corpus: lessons from the USA
    Edward J. Lusk, Gregor Schmidt, and Michael Halperin
    7 Productivity growth in Spanish venture-backed firms
    Luisa Alemany and José Martí
    8 Is the Spanish public-sector effective in backing venture capital
    Nina Zieling, José Martí and Marina Balboa
    9 A review of the venture capital industry in Italy
    Fabio Bertoni, Massimo G. Colombo, Annalisa Croce, and Evila Piva
    10 Exit strategy and the intensity of exit-directed activities among venture capital backed entrepreneurs in Sweden
    Anders Isaksson
    11 Private equity fund managers over-value their company investments
    Tom Weidig, Andreas Kemmerer, Tadeusz Lutoborski and Mark Wahrenburg
    12 A search model of Venture Capital, entrepreneurship, and unemployment
    Robin Boadway, Oana Secrieru and Marianne Vigneault
    13 Capital structure in new technology-based firms: venture capital-backed versus non-venture capital-backed firms in the Irish software sector
    Teresa Hogan and Elaine Hutson
    14 German business ventures –enterpreneurs, financing and success factors
    Niklas Wagner, Martin Brixner, Angela Poech and Christoph Kaserer
    15 Financing practices in the German Venture Capital industry: an empirical study
    Andreas Bascha and Uwe Walz
    16 Covenants in Venture Capital contracts: theory and empirical evidence from the German capital market
    Ron C. Antonczyk, Wolfgang Breuer, and Klaus Mark
    17 Supply and demand of venture capital for biotech firms: the case of the Belgian regions of Wallonia and Brussels
    Véronique Bastin, Georges Hübner, Pierre-Armand Michel, and Mélanie Servais
    18 Efficiency of VC firms using data envelopment analysis
    Greg N. Gregoriou, Maher Kooli, Philipp Krohmer, and Rainer Lauterbach
    19 Agency theory and management buy-out: the role of venture capitalists
    Hans Bruining and Arthur Herst
    20 Does the value of Venture Capital vary over the investee life cycle?
    evidence from Irish investees
    Nancy Huyghebaert and Sheila O’Donohoe
    21 German banks as venture capitalists
    Tereza Tykvova
    22 Long-run venture-backed IPO performance analysis of italian family-owned firms: what role do closed-end funds play?
    Stefano Caselli and Stefano Gatti
    23 Securitisation and venture capital fund-raising
    Paul U Ali
    24 Total loss risk in European vs. U.S. based venture capital investments
    Dieter Kaiser, Rainer Lauterbach, and Denis Schweizer

Product details

  • No. of pages: 432
  • Language: English
  • Copyright: © Butterworth-Heinemann 2006
  • Published: October 19, 2006
  • Imprint: Butterworth-Heinemann
  • eBook ISBN: 9780080466071
  • About the Authors

    Greg Gregoriou

    Greg Gregoriou

    A native of Montreal, Professor Greg N. Gregoriou obtained his joint Ph.D. in finance at the University of Quebec at Montreal which merges the resources of Montreal's four major universities McGill, Concordia, UQAM and HEC. Professor Gregoriou is Professor of Finance at State University of New York (Plattsburgh) and has taught a variety of finance courses such as Alternative Investments, International Finance, Money and Capital Markets, Portfolio Management, and Corporate Finance. He has also lectured at the University of Vermont, Universidad de Navarra and at the University of Quebec at Montreal.

    Professor Gregoriou has published 50 books, 65 refereed publications in peer-reviewed journals and 24 book chapters since his arrival at SUNY Plattsburgh in August 2003. Professor Gregoriou's books have been published by McGraw-Hill, John Wiley & Sons, Elsevier-Butterworth/Heinemann, Taylor and Francis/CRC Press, Palgrave-MacMillan and Risk Books. Four of his books have been translated into Chinese and Russian. His academic articles have appeared in well-known peer-reviewed journals such as the Review of Asset Pricing Studies, Journal of Portfolio Management, Journal of Futures Markets, European Journal of Operational Research, Annals of Operations Research, Computers and Operations Research, etc.

    Professor Gregoriou is the derivatives editor and editorial board member for the Journal of Asset Management as well as editorial board member for the Journal of Wealth Management, the Journal of Risk Management in Financial Institutions, Market Integrity, IEB International Journal of Finance, and the Brazilian Business Review. Professor Gregoriou's interests focus on hedge funds, funds of funds, commodity trading advisors, managed futures, venture capital and private equity. He has also been quoted several times in the New York Times, Barron's, the Financial Times of London, Le Temps (Geneva), Les Echos (Paris) and L'Observateur de Monaco. He has done consulting work for numerous clients and investment firms in Montreal. He is a part-time lecturer in finance at McGill University, an advisory member of the Markets and Services Research Centre at Edith Cowan University in Joondalup (Australia), a senior advisor to the Ferrell Asset Management Group in Singapore and a research associate with the University of Quebec at Montreal's CDP Capital Chair in Portfolio Management. He is on the advisory board of the Research Center for Operations and Productivity Management at the University of Science and Technology (Management School) in Hefei, Anhui, China.

    Affiliations and Expertise

    School of Business and Economics, State University of New York, Plattsburgh, NY, USA

    Maher Kooli

    Maher Kooli is Assistant Professor of Finance at the School of Business and Management, University of Quebec in Montreal (UQAM). He holds a Ph.D. in finance from Laval University (Quebec) and was a postdoctoral researcher in finance at the Center of Interuniversity Research and Analysis on Organisations. Maher also worked as a Senior Research Advisor for la Caisse de Depot et Placement de Quebec (CDP Capital). He has published articles in a wide variety of books and journals including the Journal of Multinational and Financial Management, the Financial Management, The Journal of Private Equity, the Canadian Investment Review, Derivatives Use and Trading Regulations, FINECO, and Gestion. He has co-authored a book entitled Principes de Gestion financiere, Guerin edition. His current research interests include alternative investments, initial public offerings and mergers and acquisitions.

    Affiliations and Expertise

    Assistant Professor of Finance at the School of Business and Management, University of Quebec in Montreal (UQAM)

    Roman Kraeussl

    Roman Kräussl obtained a first class honours Masters in Economics with a specialization in Financial Econometrics at the University of Bielefeld, Germany, in 1998. He completed his Ph.D. on the Role of Credit Rating Agencies in International Financial Markets at Johann Wolfgang Goethe-University, Frankfurt/Main, Germany, in 2002. As the Head of Quantitative Research at Cognitrend GmbH, he was closely involved with the financial industry. Currently he is Assistant Professor of Finance at Vrije Universiteit Amsterdam and research fellow with the Center for Financial Studies, Frankfurt/Main.

    Affiliations and Expertise

    Assistant Professor of Finance at Vrije Universiteit Amsterdam