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Dokumenttyp:
Working Paper 
Autor(en):
Achleitner, A. K.; Braun, R.; Lutz, E.; Reiner, U. 
Nicht-TUM Koautoren:
Nein 
Kooperation:
Titel:
Venture Capital Firm Returns from Acquisition Exits 
Abstract:
In this paper we investigate the returns to venture capital firms from acquisition exits. Starting from M&A; literature, we develop three detailed categorizations of acquisitions based on the acquirer’s motive and related agency issues. We use a proprietary data set of 2,356 venture capital-backed transactions from North America and Europe exited between 1982 and 2008 to assess our hypotheses. First, we show that returns from financial buyers are not statistically different from strategic acquirer...    »
 
Intellectual Contribution:
Discipline-based Research 
Jahr:
2012 
Key publication:
Nein 
International:
Ja 
commissioned:
not commissioned 
Interdisziplinarität:
Nein