English
Deutsch
Log In
Email address
Password
Log-in (only for Administrators)
or
Login with HSG credentials
Research Outputs
Projects
People
Statistics
English
Deutsch
Log In
Email address
Password
Log-in (only for Administrators)
or
Login with HSG credentials
Home
HSG CRIS
HSG Publications
When and Why Do Venture Capital-Backed Companies Obtain Venture Lending?
Export
Statistics
Options
When and Why Do Venture Capital-Backed Companies Obtain Venture Lending?
Journal
Journal of Financial and Quantitative Analysis
Type
journal article
Date Issued
2017
Author(s)
Tykvova, Tereza
DOI
10.1017/S0022109017000242
Abstract (De)
© 2017 Michael G. Foster School of Business, University of Washington. I model the decision of an informed early-stage venture capital (VC) investor that considers involving an uninformed VC or venture lending (VL) investor to finance the late stage. Early-stage VC investors that own high-quality value companies tend to signal their quality and they frequently turn to VL investors. Early-stage VC investors prefer VC if the proportion of high-quality companies in the population is high, if their companies have a high upside potential, if they can benefit from the value that late-stage VC investors add, or if uncertainty is high. I find empirical evidence consistent with these predictions.
Language
English
HSG Classification
contribution to scientific community
HSG Profile Area
SOF - System-wide Risk in the Financial System
Refereed
Yes
Volume
52
Start page
1049
End page
1080
Official URL
https://www.cambridge.org/core/journals/journal-of-financial-and-quantitative-analysis/article/when-and-why-do-venturecapitalbacked-companies-obtain-venture-lending/C1DB8BA84D1B6BB8635BD1FC617CEAE8
URL
https://www.alexandria.unisg.ch/handle/20.500.14171/103531
Subject(s)
economics
business studies
finance
Division(s)
s/bf - Swiss Institut...
Contact Email Address
tereza.tykvova@unisg.ch
Eprints ID
259425
File(s)
when_and_why_do_venturecapitalbacked_companies_obtain_venture_lending.pdf (388.13 KB)