סמינרי מחקר היום

11:00-12:15, חדר 002

מרכז המחקר במימון בפקולטה לניהול ע"ש גילפורד גלייזר
מזמין אתכם לסמינר עם המרצה

Eli Talmor,

London Business School, UK

VENTURE CAPITALIST REPUTATION AND THE EFFECT ON VENTURE LENDING CONTRACTS

Abstract

This study investigates the relationship between venture lenders and venture capitalists in their mutual roles as financial sponsors of start-ups. We empirically examine the impact of venture capitalists' reputations on the credit terms and the timing of loans. Based on a detailed dataset of transaction documents from a leading European venture lender, we show that venture capitalists with a strong reputation add value to their start-up companies by reducing credit charges and shortening the time between equity rounds and loan issuance. Leading venture capitalists are able to source venture loans more easily and maintain ongoing relationships due to multiple transactions with the lenders, and are therefore viewed by the latter as more reliable and transparent.

12:15-13:15, חדר 300

הפקולטה לניהול ע"ש גילפורד גלייזר
מזמינה אתכם לסמינר פקולטי עם המרצה:

Prof. Daniel Muzio
Newcastle University