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Entrepreneurship and the Financial Community

Starting up and Growing New Businesses Edited by Bart Clarysse, Professor of Innovation and Entrepreneurship, Vlerick Leuven Gent Management School, Gent University, Belgium and Professor of Innovation, Institute for Enterprise and Innovation, Nottingham University Business School, UK, Juan Roure, Professor of Entrepreneurship, IESE Business School, University of Navarra, Barcelona, Spain and Tom Schamp, formerly of IWT – Agentschap voor Innovatie door Wetenschap en Technologie, Brussels, Belgium
This highly accessible book brings together the insights of leading academics and researchers to promote a better understanding of the role of private equity providers in the development of growth-oriented start-ups and the management of growth processes.
In Association with Gate2Growth Academic Network, European Commission – DG Enterprise and Industry
Extent: 232 pp
Hardback Price: $135.00 Web: $121.50
Publication Date: 2007
ISBN: 978 1 84542 647 7
Availability: In Stock
Paperback Price: $56.00 Web: $44.80
Publication Date: 2008
ISBN: 978 1 84720 793 7
Availability: In Stock
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This highly accessible book brings together the insights of leading academics and researchers to promote a better understanding of the role of private equity providers in the development of growth-oriented start-ups and the management of growth processes.

The book explores the domain of start-up and business venturing, and within this realm, the perspectives of the entrepreneur, the venture capitalist, the financial community and the role of government in private equity are considered. Specifically, topics discussed include:

• the venture capital industry
• investment in venture capital funds in Europe
• the Equity Gap
• European private equity funds
• the role of private equity in the creation of university spin-out companies
• motivation of entrepreneurs towards private equity operations.

Providing theoretical frameworks together with practical conclusions and implications, this book will be warmly welcomed by academics and practitioners alike. It will be of particular value to scholars with an interest in business, management and entrepreneurship, to investment professionals and policy advisors involved in stimulating entrepreneurship, and, of course, to entrepreneurs themselves.
‘. . . an interesting compilation of studies within a field of venture capital and entrepreneurship. . . will be of interest to various stakeholders such as investors, entrepreneurs and policymakers who are interested in the financing of young ventures. To some extent the book can be regarded as a gateway to scientific knowledge within the field.’
– Hans Landström, International Small Business Journal
Contributors: R. Aernoudt, R.P. Bagozzi, S. Barnes, M. Bergami, C. Beuselinck, R. Büscher, B. Clarysse, D. De Clercq, A. de San José Riestra, C. Diller, D. Dimov, V.H. Fried, R.T. Harrison, T. Hogan, E. Hutson, C. Kaserer, M. Knockaert, C.M. Leitch, A. Lockett, M.M. Mäkelä, S. Manigart, M.V.J. Maula, V. Menzies, G. Morandin, G. Murray, J. Roure, T. Schamp, T. Van Cauwenberge, C. Van Eekhout, M. Wright
Contents:

Preface

Foreword
Reinhard Büscher

Introduction

PART I: THE FINANCIAL COMMUNITY’S PERSPECTIVE ON THE ROLE OF PRIVATE EQUITY
1. Investment in Venture Capital Funds in Europe
Simon Barnes and Vanessa Menzies

2. An Analysis of the Selection Behaviour of Early-Stage High-Tech Investors in Europe
Bart Clarysse, Mirjam Knockaert, Andy Lockett and Caroline Van Eeckhout

3. Private Equity Investors, Corporate Governance and Professionalization
Christof Beuselinck, Sophie Manigart and Tom Van Cauwenberge

4. The Impact of Capital Inflows and Management Skills on the Performance of European Private Equity Funds
Christoph Kaserer and Christian Diller

5. Business Angels Academies: Unleashing the Potential for Business Angel Investment
Juan Roure, Rudy Aernoudt and Amparo de San José Riestra

PART II: THE ENTREPRENEUR’S PERSPECTIVE ON THE ROLE OF PRIVATE EQUITY
6. The Motivation of Entrepreneurs Toward Private Equity Financing: A Laddering Approach
Gabriele Morandin, Massimo Bergami and Richard P. Bagozzi

7. What Factors Determine the Use of Venture Capital? Evidence from the Irish Software Sector
Teresa Hogan and Elaine Hutson

8. Cross-Border Venture Captalists’ Support for the Internationalization of New Software Ventures
Markus M. Mäkelä and Markku V.J. Maula

9. Venture Capitalists’ Communication and Commitment: A Practitioner’s Perspective
Dirk De Clercq and Vance H. Fried

PART III: PRIVATE EQUITY AND THE ROLE OF PUBLIC POLICY IN EUROPE
10. Private Equity and the Development of University Spin-Out Companies
Mike Wright and Andy Lockett

11. Dynamics of University Spin-Out Companies: Entrepreneurial Ventures of Technology Lifestyle Businesses?
Richard T. Harrison and Claire M. Leitch

12. Through a Glass Darkly: New Perspectives on the Equity Gap
Gordon Murray and Dimo Dimov

13. Innovation, Technology Transfer and the Equity Gap: A European Perspective
Tom Schamp

Index