Venture capital and new technology based firms : an US-German comparison
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Bibliographic Information
Venture capital and new technology based firms : an US-German comparison
(Technology, innovation, and policy, 4)
Physica-Verlag, c1997
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Bibliographical references (p. [139]-153]) and index
Description and Table of Contents
Description
The aim of this study is to investigate in the role of Venture Capital in the development of New Technology Based Firms in two countries: USA and Germany. Based on literature review and empirical work issues concerning the extent and stage of financing, the nature of oversight provided by Venture Capitalists and the framework conditions for Venture Capital are subject of investigation. The results have been reflected in a workshop with experts from research, industry and policy.
Table of Contents
1 Introduction.- 1.1 Objectives and the Scope of the Study.- 1.2 Issues, Research Questions and the Study Concept.- 2 Venture Capital Markets, New Technology Based Firms and Financial Systems: Definitions and an Overview of the US and German Experiences.- 2.1 Venture Capital: the Process and Investors.- 2.2 New Technology Based Firms.- 2.3 The Capital Market Segments in the US and Germany.- 3 Framework Conditions for Venture Capital: Results of the Literature Review.- 3.1 Development of the Venture Capital Markets - a Historical Overview.- 3.2 The Markets Today.- 3.3 Framework Conditions and Development Determinants.- 3.4 Public Policy.- 3.5 Specific Conclusions of the Literature Review.- 4 Ten Case Studies of Venture-backed Firms and their Investment Companies.- 4.1 Methodological Preliminaries.- 4.2 The US Studies.- 4.2.1 The Early Stage Investment: the Start-up Firm.- 4.2.2 The Later Stage Investment: the IPO.- 4.2.3 Corporate Venture Capital.- 4.2.4 Technology Transfer Process.- 4.2.5 New Directions in Venture Capital: Venture Leasing.- 4.3 The German Studies.- 4.3.1 Successful Trade Sale.- 4.3.2 Transatlantic Investment.- 4.3.3 Regional Investment.- 4.3.4 Early Stage Investments in Industrial Spin-Out and Scientific Spin-Off.- 4.4 Specific Conclusions and Synopsis of the Empirical Evidence.- 5 Summary and Overall Conclusions.- 6 References.
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