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Title:

Industry relatedness in trade sales and venture capital investment returns

Document type:
Zeitschriftenaufsatz
Author(s):
Achleitner, A.K.; Braun, R.; Lutz, E.; Reiner, U.
Non-TUM Co-author(s):
nein
Cooperation:
-
Abstract:
We investigate relationships between the industry relatedness of venture capital-backed companies and their strategic acquirer in trade sales and the achieved investment returns of venture capitalists. Using a proprietary data set of 716 trade sales, we analyze return differences between lateral and synergetic trade sales, as well as between horizontal and vertical trade sales. We find that venture capitalists achieve higher returns with lateral rather than synergetic trade sales, and that the d...     »
Intellectual Contribution:
Discipline-based Research
Journal title:
Small Business Economics
Journal listet in FT50 ranking:
nein
Year:
2014
Pages contribution:
1-17
Print-ISSN:
0921-898X
Judgement review:
0
Key publication:
Nein
Peer reviewed:
Ja
International:
Ja
Book review:
Nein
Commissioned:
not commissioned
Professional Journal:
Nein
Interdisciplinarity:
Nein
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