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Staging als ein Instrument des Corporate Governance in Venture Capital Beziehungen

Staging als ein Instrument des Corporate Governance in Venture Capital Beziehungen

          
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About the Book

Junge innovative Unternehmen (JIU) sind von großer Bedeutung für die gesellschaftliche und wirtschaftliche Entwicklung eines Landes. Sie schaffen Arbeitsplätze, beschleunigen strukturelle Veränderungen und sind eine treibende Kraft für den Erhalt und den Ausbau internationaler Wettbewerbsfähigkeit. JIU entwickeln Innovationen und versuchen, diese am Markt zu etablieren. Sie stehen jedoch bei der Finanzierung ihrer Investitionsvorhaben vor speziellen Problemen. Die technische Umsetzbarkeit und die Vermarktungsaussichten der Innovationen sind unsicher und schwer zu beurteilen. Glaubwürdige Informationen über innovative Investitionsvorhaben sind kaum verfügbar und müssen kostenintensiv beschafft werden. Außerdem ist der Unternehmenserfolg stark von den Fähigkeiten der Führungskräfte des JIU abhängig, welche auf Grund der kurzen Unternehmenshistorie kaum beurteilt werden können. Darüber hinaus können JIU Kapitalgebern keine nennenswerten Sicherheiten in Form von greifbaren werthaltigen Aktiva bieten. All dies führt dazu, dass die Entwicklung und damit auch die Finanzierung der JIU mit hohen Risiken verbunden ist. Außerdem wird die Beziehung zwischen JIU und externen Kapitalgebern durch starke Informations- und Anreizprobleme belastet. So besteht bspw. die Gefahr, dass sich die Unternehmensführung der JIU auf Grund ihres Informationsvorsprungs und der eingeschränkten Beobachtungsmöglichkeiten der Kapitalgeber opportunistisch verhält. Venture Capital (VC) ist eine besondere Finanztechnologie, welche eine Finanzierung der JIU ermöglicht. Sie wird von Venture Capital-Gesellschaften (VCG) eingesetzt, die in der Finanzierungsbeziehung zwischen externen Kapitalgebern und JIU stehen. Zur Steuerung und Kontrolle der finanzierten JIU setzen VCG wirkungsvolle Corporate Governance-Instrumente ein. Die gestaffelte Bereitstellung des Kapitals, welche in dieser Arbeit in Anlehnung an die US-amerikanische Terminologie auch als Staging bezeichnet wird, ist eines der wichtigsten Gover
About the Author: Matthias Komm, BWL-Studium an der Georg-August-Universität Göttingen und an der Mälardalens University in Vesterås (Schweden) von Oktober 2002 bis Dezember 2007. Derzeit tätig als Pricing Analyst im Finanzbereich der Mazda Motor Europe GmbH.


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Product Details
  • ISBN-13: 9783836657792
  • Publisher: Diplomica Verlag Gmbh
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 4 mm
  • Width: 178 mm
  • ISBN-10: 3836657791
  • Publisher Date: 12 Feb 2008
  • Height: 254 mm
  • No of Pages: 80
  • Series Title: German
  • Weight: 159 gr


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Staging als ein Instrument des Corporate Governance in Venture Capital Beziehungen
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Staging als ein Instrument des Corporate Governance in Venture Capital Beziehungen
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