Handbook of Research on Venture Capital

by Hans Landström

Overview

This Handbook provides an excellent overview of our knowledge on the various facets of managerial venture capital research.

The book opens with a thorough survey of venture capital as a research field; conceptual, theoretical and geographic aspects are explored, and its pioneers revisited. The focus then shifts to the specific environs of venture capital. Firstly, institutional (formal) venture capital is discussed. The analysis encompasses considerations such as structure, pre-investment processes, venture capitalist's value-adding, performance, impact on economic development and early-stage financing as well as management buyouts. Business angel research, networks, and their investment decision making are then discussed under the wider umbrella of informal venture capital. Finally, the corporate venture capital market is explored from both the entrepreneur's perspective and that of the supply side of corporate venture capital.

Also providing a lively and stimulating debate on policy implications and possible directions for future venture capital research, this all-encompassing Handbook will prove an invaluable reference tool for those with an interest in policy, business management, innovation, entrepreneurship, and the financing of new and growth-oriented ventures.

Product Details

ISBN-13:	9781845423124
Publisher:	Edward Elgar Publishing
Publication date:	11/26/2007
Series:	Handbooks in Venture Capital series
Pages:	456
Product dimensions:	6.70(w) x 9.60(h) x 1.10(d)

About the Author

Edited by Hans Landström, Professor Emeritus in Business Administration, Lund University, Sweden

Table of Contents

Contents:

Foreword

PART I: VENTURE CAPITAL AS A RESEARCH FIELD
1. Pioneers in Venture Capital Research
Hans Landström

2. Conceptual and Theoretical Reflections on Venture Capital Research
Harry J. Sapienza and Jaume Villanueva

3. Venture Capital: A Geographical Perspective
Colin Mason

4. Venture Capital and Government Policy
Gordon C. Murray

PART II: INSTITUTIONAL VENTURE CAPITAL
5. The Structure of Venture Capital Funds
Douglas Cumming, Grant Fleming and Armin Schwienbacher

6. The Pre-investment Process: Venture Capitalists’ Decision Policies
Andrew Zacharakis and Dean A. Shepherd

7. The Venture Capital Post-investment Phase: Opening the Black Box of Involvement
Dirk De Clercq and Sophie Manigart

8. Innovation and Performance Implications of Venture Capital Involvement in the Ventures they Fund
Lowell W. Busenitz

9. The Performance of Venture Capital Investments
Benoit F. Leleux

10. An Overview of Research on Early Stage Venture Capital: Current Status and Future Directions
Annaleena Parhankangas

11. Private Equity and Management Buy-outs
Mike Wright

PART III: INFORMAL VENTURE CAPITAL
12. Business Angel Research: The Road Traveled and the Journey Ahead
Peter Kelly

13. Investment Decision Making by Business Angels
Allan L. Riding, Judith J. Madill and George H. Haines Jr

14. The Organization of the Informal Venture Capital Market
Jeffrey E. Sohl

PART IV: CORPORATE VENTURE CAPITAL
15. Corporate Venture Capital as a Strategic Tool for Corporations
Markku V.J. Maula

16. Entrepreneurs’ Perspective on Corporate Venture Capital (CVC): A Relational Capital Perspective
Shaker A. Zahra and Stephen A. Allen

PART V: IMPLICATIONS
17. Implications for Practice, Policy-making and Research
Hans Landström

Index

Editorial Reviews

'This is undoubtedly an important collection of papers that provides a very comprehensive, but not exhaustive, overview of the field of venture capital research and a stimulus to new thinking about research issues and perspectives. It should be on the desk of every scholar in the field and on the initial reading list of any aspiring doctoral researcher.'

Richard Harrison

'This Handbook, edited by Hans Landstrom, provides a timely and valuable addition to the body of knowledge in the field of venture capital research, especially from the managerial perspective. . . the book will make a valuable addition to any library that caters to the needs of those interested in entrepreneurship and new venture creation, be it academics, practitioners or policy-makers.'

Amama Shabbir

'. . . highly recommended for those requiring in-depth analysis of the pioneers of venture capital including future research and trends in this area.'

Saleem Sheikh

‘The second volume of the Handbook of Research on Venture Capital provides an important guidepost for venture capital researchers. As Landström and Mason point out, the nature of venture capital has changed dramatically over the last ten years. The asset class as a whole has failed to return principal and the old model is under tremendous strain. The contributors nicely highlight many of these changes, especially how venture capital has scaled beyond the US. For those of us active in venture capital research, the chapters raise many interesting research questions that deserve further attention.’

Andrew Zacharakis

‘This exciting second volume of cutting-edge research on venture capital takes up where volume one leaves off, bringing greater depth to topics covered in the first volume (such as angel investing) and adding new topics and insights. It poses interesting questions such as: “is venture capital in crisis? Are new models of early investing needed?”, and offers carefully researched answers. Landström and Mason provide insightful commentary and skillfully pinpoint the contributions of a talented set of researchers. Both scholars and practitioners of venture capital will want to read this book.’

Harry J. Sapienza