The Law and Finance of Venture Capital Financing in Europe: Findings from the RICAFE Research Project

Da Rin, Marco, Hege, Ulrich, Llobet, Gerard and Walz, Uwe (2006) The Law and Finance of Venture Capital Financing in Europe: Findings from the RICAFE Research Project. European Business Organization Law Review (EBOR), 7. pp. 525-547.

Full text not available from this repository.
Official URL: http://tse-fr.eu/pub/30049

Abstract

This survey article summarises the findings of four research projects on the venture capital industry in Europe and the role played by legal institutions and the legal framework. A study on patent litigation insurance argues that insurance can create a level playing field for small innovators, but that compulsory insurance can only be justified as a transitory scheme. The second study argues that intermediaries from countries with a better legal tradition will provide more governance and value-added services, even when investing abroad. It also provides supportive empirical evidence based on an extensive questionnaire study. The third project investigates the relationship between venture investments and a widely used legality index in thirty-nine countries, finding that better laws facilitate faster deal screening and origination, lead to a higher probability of syndication and also facilitate board representation of the investors. The final study documents a significant performance gap between the European and the US venture capital industry, but argues that the difference can not be attributed to differences in legal origin.

Item Type: Article
Language: English
Date: October 2006
Refereed: Yes
Subjects: B- ECONOMIE ET FINANCE
Divisions: TSE-R (Toulouse)
Site: UT1
Date Deposited: 27 Apr 2016 08:57
Last Modified: 07 Mar 2018 13:23
OAI ID: oai:tse-fr.eu:30049
URI: http://publications.ut-capitole.fr/id/eprint/19343

Actions (login required)

View Item View Item