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Financing With Venture Capital: Advances in Knowledge Over the Last Ten Years and Research Avenues
PDF Version
(2.6 MB, 110 pages)
Research Report Presented to
Industry Canada
by :
Josée St-Pierre, Ph.D.
and
Claude Mathieu, Ph.D.
With
Éric Andriambeloson and Hamid El Arch
Research Professionals
Institut de recherche sur les PME
April 25, 2003
Table of Contents
1. Introduction and Objectives
2. Methodology
3. Venture Capital: Academic Research
4. Structure of the Venture Capital Market: Professional Associations and Events
References
Appendix
2. Methodology
- 2.1 Scientific writing, scientific events and identification of experts and centres of expertise in venture capital
- 2.2 Professional information, professional events and industry trends
3. Venture Capital: Academic Research
- 3.1 The role of venture capital in economic development, legal structures and the provenance of investors
- 3.1.1 The impact on the economy, on job creation, on innovation and on performance
- 3.1.2 The structure of capital supply (including private and public markets, the influence and control of governments on the supply of venture capital)
- 3.1.3 Legal structures: VCC objectives and mission
- 3.1.4 The balance between supply and demand in venture capital
- 3.2 The functioning of the venture capital market: financing decisions, risk measurement, contractual aspects
- 3.2.1 The criteria for investment and the investment decision-making process for VCC
- 3.2.2 The evaluation of risk (identification, estimate and mitigation)
- 3.2.3 Contractual aspects of VC and their repercussions on SME
- 3.2.4 The deciding factors in the involvement of VCC in SME
- 3.2.5 Control mechanisms (investment control from the VCC's perspective)
- 3.2.6 Investment in an SME as a component of a securities portfolio
- 3.3 Comparison between businesses that were financed by venture capital and those that were not (performance, sales, job creation, rate of innovation, etc.)
- 3.4 The impact of the venture capital company on the business that is financed
- 3.5 The impact and rate of survival of businesses financed by VC after divestiture
- 3.6 New trends
- 3.7 Conclusions: state of knowledge and avenues of research
4. Structure of the Venture Capital Market: Professional Associations and Events
References
Appendix
- Topic 1: The role of venture capital in economic development, legal forms and the provenance of investors
- Topic 2: The functioning of the venture capital market: financing decisions, risk measurement, contractual aspects
- Topic 3: Comparison of businesses that were financed with venture capital and those that were not (performance, sales, job creation, rate of innovation, etc.)
- Topic 4: The impact of a venture capital company on the business that is financed
- Topic 5: Impact and rate of survival of businesses that are financed with VC after the divestiture of the VCC
- Topic 6: New trends
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