The Venture Capital Cycle

Paul A Gompers, Josh Lerner

570 pages, parution le 05/09/2006 (2^eme édition)

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Résumé

In The Venture Capital Cycle Paul Gompers and Josh Lerner correct widespread misper-ceptions about the nature and role of venture capitalists and provide an accessible and comprehensive overview of the venture capital industry. Bringing together fifteen years of ground-breaking research into the form and function of venture capital firms, they examine the fund-raising, investing, and exit stages of venture capitalists. Three major themes run throughout the process: venture investors confront tremendous information and incentive problems; venture capital processes are inherently interrelated, and a complete understanding of the industry requires a full understanding of the venture cycle; and, unlike most financial markets, the venture capital industry adjusts very slowly to shifts in the demand for and the supply of investment capital.

This second edition has been thoroughly revised in light of recent research findings and includes six new chapters. These cover such topics as what determines the level of venture capital fund-raising and how tax policy influences the demand for venture capital; what kind of distortions are introduced when the venture capital market goes dramatically up, a question prompted by the 1999-2000 market bubble; how the venture capital industry does indeed spur innovation, an important determinant of economic growth; whether and under what circumstances governments can be effective venture capitalists; whether venture capital firms affiliated with investment-banks are prone to conflicts of interest with public offerings; and how lockups on initial public offerings are used to limit conflicts of interest.

L'auteur - Paul A Gompers

Paul Gompers is the Roy and Elizabeth Simmons Professor of Business Administration and is affiliated with the National Bureau of Economic Research.

L'auteur - Josh Lerner

Josh Lerner is Jacob H. Schiff Professor of Investment Banking at Harvard Business School, with a joint appointment in the Finance and Entrepreneurial Units.

Sommaire

Acknowledgments
Introduction
Venture Capital Fund-Raising
Venture Capital Investing
Exiting Venture Capital Investments
References
Index

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Caractéristiques techniques

	PAPIER
Éditeur(s)	The MIT Press
Auteur(s)	Paul A Gompers, Josh Lerner
Parution	05/09/2006
Édition	2^eme édition
Nb. de pages	570
Format	17 x 22
Couverture	Broché
Poids	1016g
Intérieur	Noir et Blanc
EAN13	9780262572385
ISBN13	978-0-262-57238-5