1,721,029 research outputs found
The role of venture capital in the emerging entrepreneurial finance ecosystem: future threats and opportunities
Full text linkThe last decade has seen the emergence of alternative sources of
early-stage finance, which are radically changing and reshaping the
start-up eco-system. These include incubators, accelerators, science
and technology parks, university-affiliated seed funds, corporate
seed funds, business angels – including “super-angels”, angel
groups, business angel networks and angel investment funds –
and both equity- and debt-based crowdfunding platforms. In parallel
with this development, large financial institutions that have
traditionally invested in late-stage and mature companies, have
increasingly diversified their investment portfolios to “get into the
venture game”, in some cases, through the traditional closed-end
funds model and, in other cases through direct investments and coinvestments
alongside the closed-end funds. This paper reviews the
main features, investment policies and risk-return profiles of the
institutional and informal investors operating in the very early
stage of the life cycle of entrepreneurial firms. It concludes that
traditional closed-end venture capital funds continue to play an
important role in early stage finance because of their unique competences
(e.g. screening, negotiating and monitoring) in what has
become a wider and more complex financing ecosystem
Flying solo: the determinants of individual Business Angels investment decisions against the BAN selection
No full textDoes Corporate Governance really matter for firms performance? Evidence from Italian IPOs market
No full textDuring recent years, corporate governance has received an increasing attention in the academic debate due to several scandals in financial world and consequent changes in the regulatory framework. Through this paper, we aim to take part in the stimulating debate about the relation between corporate governance and performance. Previous literature on this topic provided a solid theoretical framework for our research. This paper contributes to this investigation with an analysis of the Italian market, by the examination of the relation between the market performance of Italian IPOs and their governance structure. In particular, we find evidence of a positive relation between governance, which we measured by a new and original governance index made by 40 provisions, and IPOs performance occurred in the Italian market during period 1998-2008
Corporate governance in Italy: the evolution of corporate governance of Italian listed companies during the recent financial turmoil
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Il rifinanziamento, le deposit facilities e il meccanismo di formazione dei tassi bancari a breve termine
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