An Index For Venture Capital, 1987-2003

2005 ◽  
Vol 4 (1) ◽  
Author(s):  
Min Hwang ◽  
John M. Quigley ◽  
Susan E. Woodward
Keyword(s):  
Venture Capital ◽  
Selection Bias ◽  
Private Equity ◽  
Private Company ◽  
Data Set ◽  
Unique Data ◽  
Valuation Model ◽  
Asset Classes

Abstract In this paper we build an index of value for venture capital. Our approach overcomes the problems of intermittent, infrequent pricing of private company deals by using a repeat valuation model to build the index, and it corrects for selection bias in the reporting of values. We use a unique data set from Sand Hill Econometrics which reports 50,734 funding events, which include the contemporaneous valuations of 9,092 private equity firms disclosed 19,208 times over almost 17 years. The resulting index measures the return and risk for venture capital. Its covariance with other asset classes from 1987 through 2003 enables us to explore the role of venture capital in diversified portfolios during a period of increased importance of venture capital in the economy.

The Politics of the Sharing Economy

2020 ◽  
pp. 21-36
Author(s):  
David Murillo
Keyword(s):  
Venture Capital ◽  
Business Model ◽  
Private Equity ◽  
Sharing Economy ◽  
Moving Target ◽  
Definition Of ◽  
The Impact ◽  
Platform Economy ◽  
Academic Debate

The current academic debate on the sharing economy (SE) seems to embrace three main discussions: its definition, its effects, and the role of regulation. A neglected topic here seems to be analyzing the specific implications of the changing nature of these firms boosted by private equity and venture capital. As the author points out, we need to analyze not only the impact of a changing business model but, specifically, how stakeholders, cities, and regulators should approach this moving target now called SE. In the following sections the author departs from a traditional definition of the sharing economy to start building the case for treating the SE at large as an epiphenomenon of the platform economy, and as a temporary condition based on a moveable business model. The chapter closes by introducing the regulatory hurdles that come associated with the previous and mapping out its different futures.

Scientific Team Effectiveness and the External CEO

2013 ◽  
Vol 27 (1) ◽  
pp. 15-25 ◽  
Author(s):  
Marianne van der Steen ◽  
Paula Danskin Englis ◽  
Basil G. Englis
Keyword(s):  
The Netherlands ◽  
Formation Process ◽  
Early Phase ◽  
Team Effectiveness ◽  
Scientific Quality ◽  
Data Set ◽  
Unique Data ◽  
Resources And Capabilities ◽  
Scientific Team

This paper presents an empirical exploration of the effectiveness of scientific teams and the role of an external CEO in the spin-off formation process. The paper contributes to the literature by focusing on the role of the experienced or ‘external’ entrepreneur (their commercial resources and capabilities) in the early phase of spin-off formation and offering an attempt to understand the interaction between scientific team effectiveness and the external CEO. The data are drawn from the BioPartner First Stage Grant, a seed fund initiated in the Netherlands that aims to stimulate university spin-offs in biotechnology. This unique data set covers 68 biotechnology spin-off projects and the results show that an external CEO positively influences the spin-off creation and leverages the effect of the spin-off's scientific quality.

The Dynamic Interplay between Recorded Music and Live Concerts: The Role of Piracy, Unbundling, and Artist Characteristics

2017 ◽  
Vol 81 (4) ◽  
pp. 67-87 ◽  
Author(s):  
Dominik Papies ◽  
Harald J. van Heerde
Keyword(s):  
Business Model ◽  
Music Industry ◽  
The Other ◽  
Set Covering ◽  
Data Set ◽  
Unique Data ◽  
Recorded Music ◽  
Music Market ◽  
Dynamic Interplay

The business model for musicians relies on selling recorded music and selling concert tickets. Traditionally, demand for one format (e.g., concerts) would stimulate demand for the other format (e.g., recorded music) and vice versa, leading to an upward demand spiral. However, the market for recorded music is under pressure due to piracy and the unbundling of albums, which also entail threats for the traditional demand spiral. Despite the fundamental importance of recorded music and live concerts for the multibillion-dollar music industry, no prior research has studied their dynamic interplay. This study fills this void by developing new theory on how piracy, unbundling, artist fame, and music quality affect dynamic cross-format elasticities between record demand and concert demand. The theory is tested with a unique data set covering weekly concert and recorded music revenues for close to 400 artists across more than six years in the world's third-largest music market, Germany. The cross-format elasticity of record on concert revenue is much stronger than the reverse elasticity of concert on record revenue. The results show the key role of piracy, unbundling, and artist characteristics on these cross-format elasticities, which have implications for the business model of the music industry.

The role of innovation in venture capital and private equity investments in different investment phases

2018 ◽  
Vol 22 (1) ◽  
pp. 105-126 ◽  
Author(s):  
Cornelius Maas ◽  
Patrick Steinhagen ◽  
Dorian Proksch ◽  
Andreas Pinkwart
Keyword(s):  
Venture Capital ◽  
Private Equity ◽  
Equity Investments ◽  
Private Equity Investments

scholarly journals A Research Note on Income Pooling in Partnerships: Incorporating Nonresident Children

2019 ◽  
Vol 40 (18) ◽  
pp. 2922-2943 ◽  
Author(s):  
Kasey J. Eickmeyer ◽  
Karen Benjamin Guzzo ◽  
Wendy D. Manning ◽  
Susan L. Brown
Keyword(s):  
Prior Work ◽  
Data Set ◽  
Household Level ◽  
Unique Data ◽  
Income Pooling ◽  
Economic Decision Making ◽  
The Family ◽  
Key Factor ◽  
Married Individuals

Income pooling is a common behavior among couples. However, cohabiting and married individuals in more complex families, namely those with stepchildren, are less likely to pool incomes. Similarly, income pooling might be unlikely when there are nonresident children, who could potentially draw resources outside the household, yet prior work has largely overlooked the role of nonresident children. We take advantage of a unique data set, the Family and Relationships Study, which allows us to not only identify shared and unshared children (i.e., stepchildren) within the household but also unshared children outside the household. Focusing on cohabiting and married individuals ( N = 4,408), we find that those with resident unshared children are less likely to pool incomes but that nonresident children are unrelated to income pooling. The results confirm that household-level complexity is a key factor in couples’ economic decision making.

The Role of Personality and Tastes in Determining Occupational Structure

ILR Review ◽  
1986 ◽  
Vol 39 (3) ◽  
pp. 412-424 ◽  
Author(s):  
Randall K. Filer
Keyword(s):  
Predictive Accuracy ◽  
Occupational Structure ◽  
Occupational Groups ◽  
Data Set ◽  
Unique Data ◽  
Individual Preferences ◽  
Education Experience ◽  
Specific Finding ◽  
Explicit Measures

Using a unique data set containing explicit measures of both personality and tastes, this study applies logit techniques to predict which of five broadly defined occupational groups an individual will enter. The addition of personality and taste factors to a conventional set of variables—gender, race, education, experience, and father's socioeconomic status—significantly increases the predictive accuracy of estimating equations. Also, the results are generally consistent with a well-functioning labor market that sorts workers into jobs satisfying their individual preferences. A specific finding is that gender differences in occupational structure are strongly linked to differences between men's and women's personalities and tastes.

scholarly journals The effect of downsizing on innovation outputs: The role of resource slack and constraints

2020 ◽  
pp. 031289622097060
Author(s):  
Boumediene Ramdani ◽  
Cherif Guermat ◽  
Kamel Mellahi
Keyword(s):  
Resource Constraints ◽  
Jel Classification ◽  
Dual Effect ◽  
Data Set ◽  
Organisational Innovation ◽  
Unique Data ◽  
Resource Slack ◽  
Managerial Implications ◽  
Moderating Role

Although the practice of downsizing is prevalent, its effects on organisational outcomes remain poorly understood. This article examines how and when downsizing affects organisational innovation. Using a unique data set of UK firms over a period of 22 years, we test the effect of downsizing on innovation outputs by considering the moderating role of resource slack and constraints. We argue and empirically demonstrate that downsizing has a dual effect on innovation, contingent on the firm’s level of resources. Our results reveal that downsizing affects innovation outputs positively in firms experiencing resource slack and negatively in firms experiencing resource constraints. We also show that the effect is more immediate in resource-constrained firms. Theoretical and managerial implications of these results are discussed. JEL Classification: J63, L25, M51, O32

scholarly journals The Role of Venture Capital and Private Equity in the Entrepreneurial Finance Ecosystem

2020 ◽  
Author(s):  
Petra Katic ◽  
◽  
Dina Vasic ◽  
Keyword(s):  
Venture Capital ◽  
Private Equity ◽  
Web Of Science ◽  
Venture Capitalists ◽  
Entrepreneurial Finance ◽  
Journal Articles ◽  
Equity Financing ◽  
Critical Data ◽  
Literature Reviews

This paper researches the role of venture capital and private equity in the entrepreneurial ecosystem by reviewing the literature within that domain. The existing literature, studies and other literature reviews are included in this paper to learn if there is a progress in the field and to collect the most critical data regarding venture capital and private equity in entrepreneurial finance. An analysis is limited to scholarly journal articles and reviews published during the last five years (2014 – 2019) and available within the ISI Web of Science database. To detect current themes in the field, we performed a bibliometric analysis of entrepreneurial equity financing research. By dividing the literature into four clusters that are presenting the main findings within the area, this study provides a better understanding of venture capital and other sources of entrepreneurial funding. The results of this study indicate that the essential benefit that venture capitalists offer to entrepreneurs after financing consists of their involvement, monitoring and advising. This paper highlights the main points that can assist entrepreneurs in understanding the role of venture capital better.

scholarly journals The role of reputation systems in digital discrimination

2021 ◽  
Author(s):  
Judith Kas ◽  
Rense Corten ◽  
Arnout van de Rijt
Keyword(s):  
Empirical Studies ◽  
Ethnic Discrimination ◽  
Peer To Peer ◽  
Reputation System ◽  
Reputation Systems ◽  
Online Markets ◽  
Data Set ◽  
Unique Data

Abstract Reputation systems are commonplace in online markets, such as on peer-to-peer sharing platforms. These systems have been argued to be a solution to (ethnic) discrimination on such platforms. This argument is based on empirical studies showing that ethnic disadvantages are smaller for users with ratings than for users without ratings. We argue that this conclusion may be premature, because minorities have a harder time accumulating ratings. The greater benefit of ratings to minorities may be offset by their troubles acquiring any, thereby diminishing the potential for reputation systems to reduce discrimination. We tested this counterargument using a unique data set that contains information on all interactions on a peer-to-peer motorcycle rental platform. We find that the reputation system does not reduce initial inequalities between otherwise comparable renters of different ethnicity. Platforms that wish to reduce discrimination should not only make their reputation system more effective, but also help users collect ratings.

scholarly journals Anger, Anxiety and Corruption Perceptions: Evidence from France

2017 ◽  
Vol 65 (4) ◽  
pp. 893-911 ◽  
Author(s):  
Sarah Birch ◽  
Nicholas J Allen ◽  
Katja Sarmiento-Mirwaldt
Keyword(s):  
Theoretical Model ◽  
Recent Work ◽  
Representative Sample ◽  
Adult Population ◽  
Data Set ◽  
Clear Cut ◽  
Unique Data ◽  
Political Judgement ◽  
People’S Perceptions

This article assesses the roles of anxiety and anger in shaping people’s perceptions of politicians’ integrity. Drawing on recent work on the role of affect in shaping political judgement, the article develops a theoretical model of the anticipated role of anger and anxiety in structuring reactions to allegations of political misconduct. The model is tested on a unique data set that includes results of an experiment fielded as part of a survey carried out in January 2013 among a representative sample of the French adult population. The analysis finds that those in whom politically dubious actions generate anxiety are more sensitive to contextual details than other respondents, although the role of anger in modulating ethical judgements is less clear-cut, dampening attention to information about negatively assessed behaviour but enhancing attention to information about behaviour that is assessed more positively.

Sign in / Sign up

Export Citation Format

Share Document