书目名称 | Equity Financing and Covenants in Venture Capital |
副标题 | An Augmented Contrac |
编辑 | Karoline Jung-Senssfelder |
视频video | |
丛书名称 | ebs-Forschung, Schriftenreihe der EUROPEAN BUSINESS SCHOOL Schloß Reichartshausen |
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描述 | Contract design is currently at the center of interest in venture capital research. The existing literature points out that German venture capital contracts differ significantly from Anglo-Saxon contracting practices in their choice of financial instruments and covenants. Contract comparisons have, however, so far neglected the complementary role covenants play in the allocation of entrepreneurial cash flow rights to the contracting parties. Against this background of diverse contract designs, this dissertation provides a first comprehensive analysis of cash flow Incentives implemented through financial instruments in combination with covenants in German venture capital contracts. The author begins with a contract-theoretical analysis of the cash flow effects Implemented by common contract designs. This is followed by an empirical study that presents new evidence on the contracting patterns used in the German venture capital market. Integrating theoretical and empirical findings, the author derives implications for an improved incentive-driven contract design In Germany. With its state-of-the-art analyses, the dissertation contributes extensively to the existing international theor |
出版日期 | Book 2006 |
关键词 | Deutschland; Financing; Klauseln; Private Equity; Venture Capital; Vertragsgestaltung; Wandelbare Finanzie |
版次 | 1 |
doi | https://doi.org/10.1007/978-3-8350-9188-7 |
isbn_softcover | 978-3-8350-0335-4 |
isbn_ebook | 978-3-8350-9188-7 |
copyright | Gabler Verlag | Springer Fachmedien Wiesbaden GmbH, Wiesbaden 2006 |