Financial contracting theory meets the real world

an empirical analysis of venture capital contracts
  • 47 Pages
  • 1.41 MB
  • 4406 Downloads
  • English
by
National Bureau of Economic Research , Cambridge, MA
Venture capital -- Law and legislation -- United States., Contracts -- United States., Finance -- Law and legislation -- United States., Capitalists and financiers -- Legal status, laws, etc. -- United States., Corporate governance -- Law and legislation -- United St
Other titlesEmpirical analysis of venture capital contracts., Venture capital contracts.
StatementSteven N. Kaplan, Per Strömberg.
SeriesNBER working paper series -- no. 7660, Working paper series (National Bureau of Economic Research) -- working paper no. 7660.
ContributionsStrömberg, Per., National Bureau of Economic Research.
The Physical Object
Pagination47, [25] p. ;
ID Numbers
Open LibraryOL22399770M

The characteristics of real world financial contracts to their counterparts in financial contracting theory. In this paper, we attempt to inform theory by conducting a detailed study of actual contracts between venture capitalists and entrepreneurs.

Venture capitalists (VCs) are real world entities who most closely approximate the investors of theory. Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts STEVEN N.

KAPLAN and PER STROMBERG University of Chicago First version received March ; final version accepted March (Eds.) We compare the characteristics of real-world financial contracts to their counterparts in financial contracting theory.

Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts Steven N.

Download Financial contracting theory meets the real world EPUB

Kaplan, Per Stromberg. NBER Working Paper No. Issued in April NBER Program(s):Corporate Finance. In this paper, we compare the characteristics of real world financial contracts to their counterparts in financial contracting Cited by:   Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts By Steven N.

Kaplan and Per StrömbergCited by: CiteSeerX - Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): We compare the characteristics of real world financial contracts to their counterparts in financial contracting theory.

We do so by studying the actual contracts between venture capitalists (VCs) and entrepreneurs. The distinguishing characteristic of VC financings is that they allow VCs to separately allocate cash.

Financial Contracting Theory Meets The Real World: An Empirical Analysis Of Venture Capital Contracts We compare the characteristics of real world financial contracts to their counterparts in financial contracting theory, by studying actual contracts between venture capitalists (VCs) Cited by:   We compare the characteristics of real-world financial contracts to their counterparts in financial contracting theory.

We do so by studying the actu Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts Steven N. Cited by: Primary source(*) (*) Sample information was collected from Kaplan and Stromberg (), Financial Contracting Theory meets the Financial contracting theory meets the real world book world: An empirical analysis of Venture Capital Contracts.

Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts In this paper, we compare the characteristics of real world financial contracts to their counterparts in financial contracting theory.

We do so by conducting a detailed study of actual contracts between venture capitalists (VCs) and entrepreneurs. Financial Contracting Theory Meets The Real World: An Empirical Analysis Of Venture Capital Contracts. Steven Kaplan and Per Stromberg (). NoCEPR Discussion Papers from C.E.P.R.

Discussion Papers Abstract: We compare the characteristics of real world financial contracts to their counterparts in financial contracting theory, by studying actual contracts between venture Cited by: In this paper, we compare the characteristics of real world financial contracts to their counterparts in financial contracting theory.

We do so by conducting a detailed study of actual contracts between venture capitalists (VCs) and entrepreneurs. We consider VCs to be the real world entities who most closely approximate the investors of : Steven N.

Kaplan and Per Stromberg. Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts. Steven N. Kaplan and Per Stromberg () Review of Economic Studies,vol. 70, issue 2, Abstract: We compare the characteristics of real-world financial contracts to their counterparts in financial contracting theory.

We do so by Cited by: Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts STEVEN and PER STROMBERG Urdversity of Chicago First version received March ; f^nal version accepted March (Eds.) We compare the characteristics of real-world financial contracts to their counterparts in financial contracting fiieoty.

Financial Contracting Theory Meets The Real World: An Empirical Analysis Of Venture Capital Contracts.

Description Financial contracting theory meets the real world EPUB

By Steven Kaplan and Per Johan Strömberg. Abstract. We compare the characteristics of real world financial contracts to their counterparts in financial contracting theory, by studying actual contracts between venture capitalists (VCs) and Author: Steven Kaplan and Per Johan Strömberg.

Financial contracting theory meets the real world: an empirical analysis of venture capital contracts Author: Steven N Kaplan ; Per Strömberg ; National Bureau of Economic Research.

financial contracting theory meets the real world: an empirical analysis of venture capital contracts introduction the paper discusses the typical relationship. Financial contracting theory meets the real world: an empirical analysis of venture capital contracts Author: Steven N Kaplan ; Per Strömberg ; Centre for Economic Policy Research (Great Britain).

Title: Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts Created Date: Z. ContraCts in the real World Contracts, the foundation of economic activity, are vital, fascinating, and misunderstood.

Through a series of engaging stories – involving such captivating individuals as Maya Angelou, Clive Cussler, Lady Gaga, Paris Hilton, Martin Sheen, and Donald Trump – this books corrects the misunderstandings. “Financial Contracting Theory Meets the Real World: Evidence From Venture Capital Contracts,” with Per Strömberg, Review of Economic Studies, Vol April“The Effects of Business-to-Business E-Commerce on Transaction Costs,” with Luis Garicano, Journal of Industrial Economics, December,Education: A.B.

Harvard College, PhD Harvard University. Financial contracting theory meets the real world: an empirical analysis of venture capital contracts, Working paper, University of Chicago.

Google Scholar Kellogg ()Cited by:   Kaplan, S., and P. Strömberg. Financial contracting theory meets the real world: An empirical analysis of venture capital contracts. Review of. Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts Steven Kaplan V ssrn Tue, 04/01/ - Steven Kaplan & Per Stromberg, "Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts," 70 Review of Economic Studies ().

An Incomplete Contracts Approach to Financial Contracting. ” Review of Economic Studies, Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts.

” NBER Working Paper Lerner. JoshCited by: world free from ‘imperfections’. Mainstream contract theories developed specifically to analyze actual contracting practices fall into two categories depending on the nature and source of the ‘real world’ imperfections they emphasize.

So-called complete contract theory analyzes the efficiency and contract design implications of the. *W Kaplan, S., and P. Stromberg (), "Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts." Review of Economic Studies Hart, O., and J.

Moore (), "A Theory of Debt Based on the Inalienability of Human Capital.". # Kaplan, Steve and Per Stromberg,Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts, Review of Economic Studies J. Incentive Contracts & CEO compensation Background Reading { everyone should read/skim through 5.

" This is a masterful summary of the last 30 years of economic research on contract theory, written in clear and accessible prose." --Hal Varian, Haas School of Business and Department of Economics, University of California, Berkeley" An extremely impressive synthesis of the ideas that make up modern contract theory/5(18).

Despite the large volume of theory, empirical work has lagged behind in comparing the contracts and actions of real world principals to their counterparts in financial contracting theory. In this paper, we describe recent empirical work and its relation to theory for one prominent class of such principals – venture capitalists (VCs).

Harris, M. and Raviv, A. (), “Financial Contracting Theory”, in J. Laffont (ed.) Advances in Economic Theory. Sixth World Congress, Vol. II *1 Kaplan, Steven N. and Per Stromberg,Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contract, Review of Economic Size: KB.

A broad perspective of all the financial aspects of contracting is taken along with related legal issues and the authors explain how things operate in the ‘real world’.

They describe good practice in financial control while at the same time being honest about some of the more questionable practices that can - 5/5(5).McCahery (eds.), Venture Capital Contracting and the Valuation of High Technology Firms.

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Oxford University Press. Kaplan, Steven and Per Strömberg.“Financial contracting theory meets the real world: An empirical analysis of venture capital contracts,” Review of Economic Stud Financial Review, Vol.

45, Issue 3, pp.August 22 Pages Posted: 13 Jul See all articles by Daniel Deli Daniel Deli. Securities and Exchange Commission (SEC) Muku Santhanakrishnan. Southern Methodist University (SMU) - Finance Department.

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