venture capital research

Filed in archive Venture Capital on November 7, 2003

The Kiel Institute of World Economics in the sleepy German town of Kiel (close to Hamburg) organized a venture capital workshop some months back. Several interesting papers have been published at this event.

• The author explains, why VC-backed IPOs appeared to be more underpriced than non VC IPOs in 2001.


• This paper argues that convertible securities might be a better deal both for risky as well as less risky startups than direct equity investments or loans.


• Another paper identifies driving forces for venture capital in western Europe.


• This paper discusses a new model for the right timing an pricing for VC disinvestments (be prepared for a rather difficult but rewarding reading).


• The authoring team writes on the influence of capital markets on the labor market.