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Why do European Venture Capital Companies syndicate? Author info | Abstract | Publisher info | Download info | Related research | Statistics Sophie Manigart ()
Andy Lockett
Miguel Meuleman ()
Mike Wright
Hans Landstrm
Hans Bruining
Philippe Desbrieres
Ulrich Hommel (Vlerick Leuven Gent Management School)
Additional information is available for the following
registered author(s):
Financial theory, resource-based theory and access to deal flow are used to explain syndication practices among European venture capital (VC) firms. The desire to share risk and increase portfolio diversification is a more important motive for syndication than the desire to access additional intangible resources or deal flow. Access to resources is, however, more important for non-lead than for lead investors. When resource-based motives are more important, the propensity to syndicate increases. Syndication intensity is higher for young VC firms and for VC firms, specialised in a specific investment stage. Finally, syndication strategies are similar across European countries, but differ from North American strategies.
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Paper provided by Vlerick Leuven Gent Management School in its series Vlerick Leuven Gent Management School Working Paper Series with number
2002-20.
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Length: 38 pages
Date of creation: 15 Oct 2002Date of revision:
Handle: RePEc:vlg:vlgwps:2002-20Contact details of provider: Postal: Reep 1, 9000 Gent Phone: +32 9 210 98 99 Fax: +32 9 210 97 00 Email: Web page: http://www.vlerick.com More information through EDIRC
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Paper Manigart, S. & Bruining, J. & Lockett, A. & Meuleman, M., 2002.
"Why Do European Venture Capital Companies Syndicate? ,"
Research Paper
ERS-2002-98-ORG Revision_, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
[Downloadable!] Sophie Manigart & Miguel Meuleman, 2002.
"Why do European Venture Capital Companies syndicate? ,"
Finance
0210006, EconWPA.
[Downloadable!] This paper has been announced in the following NEP Reports :
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Vesa Kanniainen & Christian Keuschnigg, 2000.
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Other versions:
Kanniainen, V. & Keuschnigg, C., 2000.
"The Optimal Portfolio of Start-up Firms in Venture Capital Finance ,"
University of Helsinki, Department of Economics
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[Downloadable!]
Other versions:
Manigart, Sophie & De Waele, Koen & Wright, Mike & Robbie, Ken & Desbrieres, Philippe & Sapienza, Harry J. & Beekman, Amy, 2002.
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Other versions: Jeng, Leslie A. & Wells, Philippe C., 2000.
"The determinants of venture capital funding: evidence across countries ,"
Journal of Corporate Finance ,
Elsevier, vol. 6(3), pages 241-289, September.
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Christopher B. Barry, 1994.
"New Directions in Research on Venture Capital Finance ,"
Financial Management ,
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Elango, B. & Fried, Vance H. & Hisrich, Robert D. & Polonchek, Amy, 1995.
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[Downloadable!] (restricted)
Bygrave, William D., 1987.
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[Downloadable!] (restricted)
Sapienza, Harry J. & Manigart, Sophie & Vermeir, Wim, 1996.
"Venture capitalist governance and value added in four countries ,"
Journal of Business Venturing ,
Elsevier, vol. 11(6), pages 439-469, November.
[Downloadable!] (restricted)
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Rainer Lauterbach & Isabell Welpe & Jan Fertig, 2007.
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Financial Markets and Portfolio Management ,
Springer, vol. 21(1), pages 45-67, March.
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Douglas Cumming & Grant Fleming & Armin Schwienbacher, 2008.
"Financial intermediaries, ownership structure and the provision of venture capital to SMEs: evidence from Japan ,"
Small Business Economics ,
Springer, vol. 31(1), pages 59-92, June.
[Downloadable!] (restricted)
Mike Wright, 2007.
"Venture capital in China: A view from Europe ,"
Asia Pacific Journal of Management ,
Springer, vol. 24(3), pages 269-281, September.
[Downloadable!] (restricted)
Cumming, D. & Johan, S., 2005.
"Provincial preferences in private equity ,"
Discussion Paper
04, Tilburg University, Tilburg Law and Economic Center.
[Downloadable!]
Other versions: Carola Jungwirth & Petra Moog, 2004.
"Closing the gap or enlarging the pool: How venture capitalist differ in their syndication motives ,"
Working Papers
0023, University of Zurich, Institute for Strategy and Business Economics (ISU).
[Downloadable!]
Cumming, Douglas & Johan, Sofia, 2006.
"Corporate social responsibility: domestic and international private equity institutional investment ,"
Discussion Paper
2, Tilburg University, Tilburg Law and Economic Center.
[Downloadable!]
Other versions: Christian Hopp & Finn Rieder, 2004.
"What drives Venture Capital Syndication ,"
Finance
0412023, EconWPA, revised 12 Jan 2006.
[Downloadable!]
Douglas Cumming & Sofia Johan, 2007.
"Advice and monitoring in venture finance ,"
Financial Markets and Portfolio Management ,
Springer, vol. 21(1), pages 3-43, March.
[Downloadable!] (restricted)
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