Human Capital Investment, New Firm Creation and Venture Capital PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Human Capital Investment, New Firm Creation and Venture Capital PDF full book. Access full book title Human Capital Investment, New Firm Creation and Venture Capital by Merih Sevilir. Download full books in PDF and EPUB format.
Author: Merih Sevilir Publisher: ISBN: Category : Languages : en Pages : 50
Book Description
This paper studies the relation between firm investment in general human capital, new firm creation and financial development for new firm financing, such as the existence of a venture capital industry. On one hand, firm investment in general human capital leads employees to generate new innovative ideas for starting their own firm. Since employees need a venture capitalist to start their new firm, firm investment in general human capital encourages the creation of venture capitalists by increasing the need for their services, such as providing advice and monitoring. On the other hand, as new firm financing becomes available, firms' willingness to invest in general human capital increases, and as a by-product, the creation of employee-founded and venture capital-backed new firms increases in the economy. Hence, our model provides a rational explanation for the emergence of new firms created by employees of established firms, which represents one of the most common type of new firms in many industries.
Author: Merih Sevilir Publisher: ISBN: Category : Languages : en Pages : 50
Book Description
This paper studies the relation between firm investment in general human capital, new firm creation and financial development for new firm financing, such as the existence of a venture capital industry. On one hand, firm investment in general human capital leads employees to generate new innovative ideas for starting their own firm. Since employees need a venture capitalist to start their new firm, firm investment in general human capital encourages the creation of venture capitalists by increasing the need for their services, such as providing advice and monitoring. On the other hand, as new firm financing becomes available, firms' willingness to invest in general human capital increases, and as a by-product, the creation of employee-founded and venture capital-backed new firms increases in the economy. Hence, our model provides a rational explanation for the emergence of new firms created by employees of established firms, which represents one of the most common type of new firms in many industries.
Author: Oxana Lauer Publisher: GRIN Verlag ISBN: 3668085684 Category : Business & Economics Languages : en Pages : 25
Book Description
Seminar paper from the year 2015 in the subject Business economics - Investment and Finance, grade: 1,3, University of Applied Sciences Essen, language: English, abstract: This term paper examines the relevance of human capital (HC) in the process of finding venture capital investors. Since knowledge and skills became a driver for a company's competitive advantage, the relevance of HC grew according to corporate success. Remaining competitive in the innovative and rapidly growing market environment gives innovations and, thus, HC knowledge and skills an important role within a company's value creation process. Therefore, HC and qualified employees are becoming a key factor when aiming at corporate growth and searching for capital investors. To analyse this subject, the term paper aims to screen the process of finding venture capital investors and to ascertain the role of HC in it. This will be done by first defining HC as well as venture capital and afterwards describing how these two subjects relate to each other by describing the position of HC within a business plan and taking a companies departments as orientation. Afterwards it's going to be explained how HC can be represented in key figures by applying the Saarbrücker Formel. As a practical example, the formula will be applied to the BASF Coatings AG. Finally, the results will be explained and the findings summarized and critically examined.
Author: Fengxia Xiao Publisher: ISBN: 9781109946062 Category : New business enterprises Languages : en Pages : 142
Book Description
The importance of venture financing (venture capital) to the incubation and early-stage growth of new enterprise (new firms) has been well documented. Studies exploring the determinants of new-firm formation have tested for hypothesized linkages involving contextual (socio-economic) factors on a variety of spatial scales. To date, however, little or no published research is focused on the role of venture-capital investment flows on new-firm formation at the regional level. This study seeks to address this gap in our understanding. In order to isolate the effects of venture capital on new-firm formation, while controlling for categories of covariates whose influences may be confounded, I identified five categories of regional attributes as controls. The five categories are (1) macroeconomic contextual factors, (2) market-demand conditions, (3) industrial structure, (4) human-capital assets, and (5) innovation-related factors. The primary dependent variable exploits recently available data on metro-level dynamic establishments---firm entry and exit developed by the U.S. Bureau of Census files for the 1989-2002 period. The main independent variable is developed by using the data from the VentureXpert (Thompson Financial) database of venture-capital investment flows that occurred from 1961 to 2002 within the United States. Findings indicate that VCI flows do account for variation in metro-regional rates of new-firm formation. Not only the current-year VCI, but also the VCI lagged up to five years, have a positive effect on rates of new-firm formation. I also find that a region's rates of total output and of population growth, the prior year's firm-entry rate, the current firm-exit rate, high-tech employment share, and number of locally produced PhDs in all fields per 1 million employees are positively associated with new-firm formation. By contrast, mean establishment size and the number of patents per 1 million labor-force participants are negatively related to rate of new-firm formation.
Author: Bernard Guilhon Publisher: John Wiley & Sons ISBN: 1119693586 Category : Business & Economics Languages : en Pages : 145
Book Description
The funding of innovative projects that are fundamentally ambiguous often leads to situations where decision-making is difficult. However, decision-making can be improved by practices such as syndication and step-by-step funding. The dynamic of this industry requires us to consider the economic and institutional variables that make this system coherent in English-speaking countries, but conversely reduce it to a privileged niche by the leading authorities in Europe and France. This book proposes two guiding ideas. The first idea presents innovation as a very uncertain process. This modifies the decision-making in the entrepreneurial ecosystem, with intervention upstream in regards to stronger foundations, evaluations and selection of projects. The second idea is that the actors hold onto partial knowledge in a context where their attention span is limited. These cognitive limitations need the formation of networks, and lead to mutual and complementary dependency relations.
Author: Thomas O. Davenport Publisher: Jossey-Bass ISBN: Category : Business & Economics Languages : en Pages : 280
Book Description
Although much has been written to encourage organizations to treat employees as assets, this book argues persuasively for recognizing the worker as the investor. Davenport underscores a fundamental reality of the workplace: work is a two-way exchange of value, not a one-way exploitation of an asset by its owner. Offering a fresh new lens for viewing the realities of today's workplace, this book accurately captures the look of the new employee/employer relationship and the best practices for hiring, developing, and preserving a first-class workforce. Davenport's ideas bring together the key notions of human resources, conflict resolution, and management. He then demonstrates how to put into action the employment practices that provide the employer with organizational value and the employee with a satisfying return on his or her investment.
Author: Tom Nicholas Publisher: Harvard University Press ISBN: 0674988000 Category : Business & Economics Languages : en Pages : 401
Book Description
From nineteenth-century whaling to a multitude of firms pursuing entrepreneurial finance today, venture finance reflects a deep-seated tradition in the deployment of risk capital in the United States. Tom Nicholas’s history of the venture capital industry offers a roller coaster ride through America’s ongoing pursuit of financial gain.
Author: Gavin Reid Publisher: Routledge ISBN: 1134681348 Category : Business & Economics Languages : en Pages : 392
Book Description
Gavin Reid presents a systematic analysis of what drives investor-investee relations in venture capital markets. In the first analytical work to use a unified framework, he draws upon a modern and general approach to contracting relations, namely principal-agent analysis. This book establishes a clear theoretical framework involving risk management, information handling and the 'trading' of risk and information. Using powerful modern theory as a general and coherent frame of reference to analyse an extensive body of new evidence, the author shows how top investors manage risk and monitor investees, and examines the best relationship between investor and investee. Exploring the principles governing high-risk/high-return investment, this is a unique insight into the turbulent world of the venture capitalist.
Author: Leonard A. Batterson Publisher: John Wiley & Sons ISBN: 1119409373 Category : Business & Economics Languages : en Pages : 228
Book Description
Venture capital demystified, for both investors and entrepreneurs Building Wealth Through Venture Capital is a practical how-to guide for both sides of the table—investors and the entrepreneurs they fund. This expert author duo combines renowned venture capital experience along with the perspective of a traditional corporate executive and investor sold on this asset class more recently to flesh out wealth-building opportunities for both investors and entrepreneurs. Very simply, this book will guide investors in learning how to succeed at making money in venture capital investment, and it will help entrepreneurs increase their odds of success at attracting venture capital funds and then employing those funds toward a lucrative conclusion. The authors explain why venture capital will remain the asset class best-positioned to capitalize on technological innovation in the coming years. They go on to demystify the market for those seeking guidance on reaping its rich returns. Learn what it takes to succeed as an investor or entrepreneur, and gain the wisdom of experience as the authors explain key factors that determine outcomes. Through a relaxed, down-to-earth narrative, the authors share their own experiences as well as those of their nationally-recognized colleagues. Illustrative anecdotes and personal interviews expand upon important points, and case studies demonstrate the practical effect of critical concepts and actions. World-class professional expertise and personal experience come together to help you: Understand the nature of both venture capitalists and successful entrepreneurs Develop wealth-building capabilities in investing in or attracting venture capital Learn how entrepreneurs and investors can work together toward a lucrative conclusion Examine the ways in which recent financial regulatory developments and technological advances already in place are democratizing access to venture capital, enabling unprecedented expansion of venture capital opportunities As the field expands through these regulatory and technological developments, savvy participants will have unprecedented opportunity to benefit. Building Wealth Through Venture Capital explains what you need to know, and shows you how to navigate this arcane but lucrative asset class.
Author: Merih Sevilir
Author: Merih Sevilir
Author: Oxana Lauer
Author: Jens Ortgiese
Author: Fengxia Xiao
Author: OECD
Author: Bernard Guilhon
Author: Thomas O. Davenport
Author: Tom Nicholas
Author: Gavin Reid
Author: Leonard A. Batterson