University of Chicago Graduate School of Business and National Bureau of Economic Research. A previous version of this paper was titled “How Do Venture Capitalists Choose and Monitor Investments?” We appreciate comments from Ulf Axelson, Douglas Baird, Francesca Cornelli, Mathias Dewatripont, Douglas Diamond, Paul Gompers, Felda Hardymon, Josh Lerner, Frederic Martel, Bob McDonald (the editor), Kjell Nyborg, David Scharfstein, Jean Tirole, Lucy White, Luigi Zingales, an anonymous referee, and seminar participants at Amsterdam, Chicago, Columbia, ECARE, the 2001 European Finance Association meetings, Harvard Business School, HEC, INSEAD, London Business School, McGill, Michigan, New York University, North Carolina, Notre Dame, Ohio State, Purdue, Rochester, Stockholm School of Economics, Toulouse, Washington University, and Yale. This research has been supported by the Kauffman Foundation, the Lynde and Harry Bradley Foundation, and the Olin Foundation through grants to the Center for the Study of the Economy and the State, and by the Center for Research in Security Prices. Alejandro Hajdenberg provided outstanding research assistance. We are grateful to the venture capital partnerships for providing data. Any errors are our own.
Characteristics, Contracts, and Actions: Evidence from Venture Capitalist Analyses
Version of Record online: 27 NOV 2005
© 2004 the American Finance Association
The Journal of Finance
Volume 59, Issue 5, pages 2177–2210, October 2004
How to Cite
KAPLAN, S. N. and STRÖMBERG, P. (2004), Characteristics, Contracts, and Actions: Evidence from Venture Capitalist Analyses. The Journal of Finance, 59: 2177–2210. doi: 10.1111/j.1540-6261.2004.00696.x
- Issue online: 27 NOV 2005
- Version of Record online: 27 NOV 2005
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