capital

This article examines effects of dyadic ties and interpersonal trust on referrals and investment decisions of venture capitalists in the Chinese and Russian contexts. The findings reveal that referee-venture capitalist tie, referee-entrepreneur tie, and interpersonal trust between referee and venture capitalist have positive effects on referrals and investment decisions of venture capitalists.

The report is an account of announced capital investment and job creation during 2004 occurring from the direct efforts of the Global Business Development Division of the South Carolina Department of Commerce.

The paper explores how the city of Clevelands leading inventors and technologically innovative firms obtained financing, and finds that formal institutions, such as banks and securities markets, played only a very limited role.

The study looks at motives for syndication across several European countries and finds that the motives for syndicating a deal in Europe are driven much more by finance considerations than by deal flow considerations or by the wish to improve the deal specific investment process. These findings contrast with those from North America, including the United States.

The study looks at motives for syndication across several European countries and finds that the motives for syndicating a deal in Europe are driven much more by finance considerations than by deal flow considerations or by the wish to improve the deal specific investment process. These findings contrast with those from North America, including the United States.

The authors assess the variance in the rate of return by surveying the international empirical literature from a fresh perspective and by simulating risky earnings profiles in alternative options.

The authors examine the extent to which firms from different countries rely on alternative sources of capital, the locations where they raise capital, and the factors that affect these choices. Findings indicate that firms all around the world are more likely to issue equity prior to periods of low market returns.

The survey indicates that investments in the first quarter of 2004 totaled $4.6 billion going into 618 companies. The figure is below the $5.2 billion invested in the fourth quarter of 2003, but above the first quarter total of a year ago.

The survey indicates that venture capital ended the year on an up note in Q4 2003 with investments totaling $5.1 billion in 698 companies. Biotech saw its momentum continue in Q4 2003 with $1.1 billion of investment. For the second consecutive quarter and only the second time in the past eight years, biotech led all other industry categories. Software was second and accounted for $978 million in the quarter.

Using an original survey sample of 103 unquoted Belgian technology-based small firms, the authors examine the capital structure of start-up companies during their consecutive development stages. They find that internal funds, either alone as personal savings or in combination with family and friends, to be the primary source of financing.