图书名称：Venture Capital and Private Equity Contracting: An International Perspective, 2e
作者：Douglas J. Cumming and Sofia A. Johan
出版社：Elsevier
页数：742
出版时间：2014
语言：English
格式：pdf
内容简介：
Other books present corporate finance approaches to the venture capital and private equity industry, but many key decisions require an understanding of the ways that law and economics work together. This revised and updated 2e offers broad perspectives and principles not found in other course books, enabling readers to deduce the economic implications of specific contract terms. This approach avoids the common pitfalls of implying that contractual terms apply equally to firms in any industry anywhere in the world. In the 2e, datasets from over 40 countries are used to analyze and consider limited partnership contracts, compensation agreements, and differences in the structure of limited partnership venture capital funds, corporate venture capital funds, and government venture capital funds. There is also an in-depth study of contracts between different types of venture capital funds and entrepreneurial firms, including security design, and detailed cash flow, control and veto rights. The implications of such contracts for value-added effort and for performance are examined with reference to data from an international perspective. With seven new or completely revised chapters covering a range of topics from Fund Size and Diseconomies of Scale to Fundraising and Regulation, this new edition will be essential for financial and legal students and researchers considering international venture capital and private equity. Features: an analysis of the structure and governance features of venture capital contracts; in-depth study of contracts between different types of venture capital funds and entrepreneurial firms; international datasets from over 40 countries around the world; additional references on a companion website; and sample contracts, including limited partnership agreements, term sheets, shareholder agreements, and subscription agreements.

作者简介：
Douglas Cumming, J.D., Ph.D., CFA, is a Professor of Finance and Entrepreneurship and the Ontario Research Chair at the Schulich School of Business, York University. His research interests include venture capital, private equity, hedge funds, entrepreneurship, and law and finance.He is a Co-Editor of Entrepreneurship Theory and Practice, and has been a guest editor for 12 special issues of top journals.He has published over 90 articles in leading refereed academic journals in finance, management, and law and economics, such as the Journal of Financial Economics, Review of Financial Studies, Journal of International Business Studies and the Journal of Empirical Legal Studies. He is the coauthor of Venture Capital and Private Equity Contracting (Elsevier Academic Press, 2009), and Hedge Fund Structure, Regulation and Performance around the World (Oxford University Press, 2013).He is the Editor of the Oxford Handbook of Entrepreneurial Finance (Oxford University Press, 2012), the Oxford Handbook of Private Equity (Oxford University Press, 2012), and the Oxford Handbook of Venture Capital (Oxford University Press, 2012).His work has been reviewed in numerous media outlets, including The Economist, Canadian Business, the National Post, and The New Yorker.He is a research associate with the Bocconi University Paolo Baffi Center for Central Banking and Financial Regulation (Milan), Groupe d'Economie Mondiale at Sciences Po (Paris), Capital Markets CRC (Sydney), Venture Capital Experts (New York), Cambridge University ESRC Center for Business Research (Cambridge UK), Center for Financial Studies (Frankfurt), Amsterdam Center for Research in International Finance, and the University of Calgary Van Horne Institute. He has also consulted for a variety of governmental and private organizations in Australasia, Europe and North America.Much of Douglas Cumming's work is online at SSRN: http://ssrn.com/author=75390
Sofia Johan, LL.B (Liverpool), LL.M. in International Economic Law (Warwick), Ph.D. in Law and Economics (Tilburg), is the AFM Senior Research Fellow at the Tilburg Law and Economics Centre (TILEC) in The Netherlands and Adjunct Professor of Law and Finance at the Schulich School of Business, York University.Her research is primarily focused on law and finance, market surveillance, hedge funds, venture capital, private equity and IPOs.Her work has been presented at the American Law and Economics Association, the American Economics Association, European Law and Economics Association, the European Financial Management Association, and other leading international conferences.Her recent publications have appeared in numerous journals including the Journal of Financial Economics, Journal of International Business Studies, American Law and Economics Review, International Review of Law and Economics, Journal of Banking and Finance, European Financial Management, European Economic Review, and Entrepreneurship Theory and Practice, among numerous other journals.She is the coauthor of Venture Capital and Private Equity Contracting: An International Perspective (Elsevier Science Academic Press, 2009, 770pp) and Hedge Fund Structure, Regulation and Performance around the World (Oxford University Press, 2013, 300pp)..Prior to her Ph.D., she was the head legal counsel at the largest government owned venture capital fund in Malaysia.She has also consulted for a variety of governmental and private organizations in Australasia and Europe.http://ssrn.com/author=370203

Table of Contents：

Front-matterPages i,iii

CopyrightPage iv

DedicationPage v

PrefacePages xix-xxiv

Part One: Introduction

1、Introduction and Overview Pages 3-37

2、Overview of Agency Theory, Empirical Methods, and Institutional Contexts Pages 39-60

3、Overview of Institutional Contexts and Empirical MethodsPages 61-76

Part Two: Fund Structure and Governance

4、Fundraising and Regulation Pages 79-143

5、Limited Partnership Agreements Pages 145-173

6、Compensation Contracts Pages 175-205

7、Style Drift Pages 207-238

8、Institutiona lInvestment in Listed Private EquityPages 239-266

9、The Role of Government and Alternative Policy OptionsPages 267-302

Part Three: Financial Contracting between Funds and Entrepreneurs

10、The Investment Process Pages 305-317

11、Security Design Pages 319-368

12、Preplanned Exits and Contract Design Pages 369

13、Legal Conditions and Venture Capital Governance Pages405-442

Part Four: Investor Effort

14、Investor Value Added Pages 445-450

15、Contracts and Effort Pages 451-490

16、Local Bias Pages 491-521

17、Portfolio Size Pages 523-562

18、Fund Size Pages 563-587

Part Five: Divestment

19、The Divestment Process Pages 591-601

20、Investment Duration Pages 603-631

21、Contracts and Exits Pages 633-675

22、Returns, Valuation,and Disclosure Pages 677-722

Part Six: Conclusion and Appendices

23、Summary and Concluding Remarks Pages 725-727

Bibliography Pages 729-756

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