The syndication of venture capital investments in Europe: Evidence from five european countries
AbstractFinancial theory, resource-based theory and deal flow generation are used to explain syndication practices among venture capitalists in Belgium, France, The Netherlands, Sweden and the UK. Similar motives drive syndication in the five countries:the desire to share risk and increase portfolio diversification is more important than the desire to access additional intangible resources or deal flow. When resource-based motives are more important, however, the propensity to syndicate increases. Syndication practices are more important in young venture capital (VC) firms and in VC firms with more portfolio companies.
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Bibliographic InfoPaper provided by Université de Bourgogne - Leg (laboratoire d'économie et de gestion)/Fargo (Research center in Finance,organizational ARchitecture and GOvernance) in its series Working Papers FARGO with number 1021202.
Length: 15 pages
Date of creation: Dec 2002
Date of revision:
Publication status: forthcoming in Frontiers of Entrepreneurship Research
Note: article à paraître dans Frontiers of Entrepreneurship Research
Contact details of provider:
Postal: 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France
Web page: http://leg.u-bourgogne.fr/
Postal: Gérard Charreaux, Fargo-Leg, Université de Bourgogne 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France
Find related papers by JEL classification:
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-02-03 (All new papers)
- NEP-CFN-2003-02-03 (Corporate Finance)
- NEP-COM-2003-02-03 (Industrial Competition)
- NEP-EEC-2003-02-03 (European Economics)
- NEP-ENT-2003-02-03 (Entrepreneurship)
- NEP-MFD-2003-02-03 (Microfinance)
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