Venture capital investments

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Capital structure decisions and firm valuation are an essential part of corporate finance research. However, compared to publicly listed and mature companies the financing of young and innovative firms gains significantly less attention. This is especially true with regards to empirical research, simply due to the lack of sufficient data. Against this background this book empirically analyzes issues regarding the fi - nancing of young and innovative fi rms based on three extensive data sets. The first part focuses on the determinants of capital structure decisions in venture capital backed firms. The second part addresses firm valuation by venture capitalists. The third part presents an analysis regarding the valuation accuracy of stochastic versus common valuation models for publicly listed growth firms.