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A Note on The Use of Debt By Venture Capital Backed Firms
Oleh:
Mull, Rick H.
;
Winters, Drew B.
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Journal of Entrepreneurial and Small Business Finance vol. 5 no. 3 (1996)
,
page 287-293.
Topik:
VENTURE CAPITAL
;
debt
;
venture capital
;
firms
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
JJ40
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
Much of the current research regarding the venture capitalist examines samples of venture capital (VC) backed firms rather than the venture capitalist itself. While VC backed firms may represent the most reasonable proxy available for the study of the venture capitalist, consideration of firm - specific characteristics may need to be included to mitigate baised conclusions. Controlling for the determinats of capital structure, we examine the persistence of previously noted differences in capital structure choice and find that VC backing does not systematically alter the use of debt by firms. These results suggest that not controlling for firm specific differences when contrasting VC and non - VC backed firms may lead to inaccurate conclusions in venture capital research.
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