Private equity and venture capital in Europe : markets, techniques, and deals / Stefano Caselli, Giulia Negri
| Publisher | (Amsterdam : Academic Press) |
|---|---|
| Year | 2021 |
| Edition | Third edition. |
| Authors | *Caselli, Stefano 1969- author Negri, Giulia author |
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| Links to the text | Location | Volume | Call No. | Barcode No. | Status | Comments | ISBN | Printed | Restriction | Reserve |
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| Links to the text | Library Off-campus access |
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OB00178390 | ScienceDirect (電子ブック) | 9780323854016 |
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| Material Type | E-Book |
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| Media type | 機械可読データファイル |
| Size | 1 online resource (1 volume) |
| Notes | Includes index Print version record Intro -- Private Equity and Venture Capital in Europe: Markets, Techniques, and Deals -- Copyright -- Contents -- Preface -- Acknowledgments -- Introduction -- Part 1: Private equity business: General framework and theories -- Chapter 1: The fundamentals of private equity and venture capital -- 1.1. Introduction -- 1.2. Definition of private equity and venture capital -- 1.2.1. Difference between private equity and public equity -- 1.2.2. Difference between private equity and the banking system -- 1.2.2.1. Certification effect -- 1.2.2.2. Network effect -- 1.2.2.3. Knowledge effect -- 1.2.2.4. Financial effect -- 1.2.3. Main differences between corporate finance and entrepreneurial finance -- 1.3. The map of equity investment: An entrepreneur's perspective -- 1.4. The map of equity investment: An investor's perspective -- Further reading -- Chapter 2: Mechanics of private equity and recent trends -- 2.1. Introduction -- 2.2. The relation between fund, firm, and investors -- 2.3. Recent data -- 2.3.1. Fundraising in the world and in Europe -- 2.3.1.1. World data -- 2.3.1.2. European data -- 2.3.2. Investment in the world and in Europe -- 2.3.2.1. World data -- 2.3.2.2. European data -- 2.3.3. Divestment in the world and in Europe -- 2.3.3.1. World data -- 2.3.3.2. European data -- 2.3.4. The effects of Covid-19 on the private equity business -- Further reading -- Chapter 3: Theoretical foundation of private equity and venture capital -- 3.1. Introduction -- 3.2. Theories about corporation financing -- 3.2.1. Remarks on the approach of Modigliani and Miller -- 3.2.2. Remarks on the trade-off theory approach -- 3.2.3. Remarks on agency theory -- 3.2.4. Remarks on pecking order theory -- References -- Further reading -- Chapter 4: Clusters of investment within private equity -- 4.1. Introduction 4.2. Preliminary focus on the different clusters of investment -- 4.2.1. The demand-driven approach -- 4.2.2. The supply-driven approach -- 4.2.3. Comparison between the two approaches -- 4.3. The main issues of investment clusters -- 4.4. Private equity deals -- 4.4.1. Seed financing -- 4.4.2. Start-up financing -- 4.4.3. Early stage financing -- 4.4.4. Expansion financing -- 4.4.5. Replacement financing -- 4.4.6. Vulture financing -- 4.4.7. Private equity managerial involvement -- Further reading -- Part 2: Private equity investment clusters -- Chapter 5: Investing in the early stages of a company: Venture capital -- 5.1. Introduction -- 5.2. General overview of early stage financing -- 5.2.1. Seed financing -- 5.2.2. Start-up financing -- 5.2.3. Early growth financing -- 5.3. Operation phases during early stage financing -- 5.4. Structure of venture capitalists in early stage financing -- 5.5. Selection of the target company -- 5.6. Supporting innovation development -- 5.7. Private investor motivation and criteria -- Further reading -- Chapter 6: The venture capital industry -- 6.1. Introduction -- 6.2. The startup cycle -- 6.2.1. Definition of a start-up business -- 6.2.2. The timeline of the startup cycle -- 6.2.3. Case studies -- 6.2.3.1. Spotify-Sweden -- 6.2.3.2. Grammarly-Ukraine -- 6.3. The startup business innovation matrix -- 6.4. Venture capital business evolution -- 6.4.1. Fintech -- 6.4.2. Healthtech and Medtech -- 6.4.3. Mobiltech -- Further reading -- Chapter 7: Investments in mature companies: Expansion financing -- 7.1. General overview of financing growth -- 7.2. Expansion financing -- Internal growth -- External growth (i.e., acquisition of a target company) -- 7.3. The cluster of expansion growth deals -- 7.4. Characteristics of growth -- 7.5. Internal growth -- 7.6. External growth -- 7.6.1. M& -- A motivations 7.6.2. M& -- A characteristics -- 7.6.3. M& -- A in the private equity business -- 7.7. Advantages for venture-backed companies -- 7.8. Disadvantages for venture-backed companies -- 7.9. European trends -- Further reading -- Chapter 8: Investments in mature companies: Replacement financing -- 8.1. Introduction -- 8.2. Replacement financing -- 8.3. Private investment in public equity deals -- 8.4. Public to private deals -- 8.5. Corporate governance deals/turnaround deals -- 8.5.1. Characteristics of turnaround deals -- 8.5.2. Reasons behind turnaround deals -- 8.5.3. Valuation and risk management in turnaround -- 8.6. Buyout and leveraged-buyouts -- 8.6.1. General overview of buyouts -- 8.6.2. Characteristics of a buyout deal -- 8.6.3. LBO as a private equity deal -- 8.7. Final remarks on replacement financing -- Further reading -- Chapter 9: Investing in mature companies: Vulture financing -- 9.1. Introduction -- 9.2. General overview of vulture financing -- 9.3. Characteristics of restructuring financing -- 9.4. Characteristics of distressed financing -- Further reading -- Part 3: Legal and fiscal framework in the private equity business around the world -- Chapter 10: Legal framework in Europe for equity investors -- 10.1. Introduction -- 10.2. Different financial institutions that invest in equity: An introduction to the EU system -- 10.3. Banks and investment firms: Common rules and differences in the EU -- 10.3.1. Banks -- 10.3.1.1. The role of Basel frameworks on private equity investments for banks and investments firms -- 10.3.2. Investment firms -- 10.4. Closed-end funds -- 10.4.1. Funds -- 10.4.2. AMC -- 10.4.2.1. The minimum requisites to operate for AMC -- 10.4.2.2. Governance rules for AMC -- 10.4.2.3. Management rules for AMC -- 10.4.3. Closed-end funds -- 10.4.3.1. General framework for closed-end funds 10.4.3.2. Internal code of activities for closed-end funds -- 10.4.3.3. The investment policy for closed-end funds -- 10.4.3.4. Definition of public and ``reserved´´ offer -- 10.5. Reasons for choosing a closed-end fund rather than banks or investment firms -- 10.6. Corporate venture capital -- 10.7. Private equity in Europe -- 10.7.1. The southern Europe model -- 10.7.1.1. Italy -- 10.7.1.2. Spain -- 10.7.2. The Central Europe model -- 10.7.2.1. France and Benelux -- France -- Benelux -- 10.7.2.2. DACH region -- Further reading -- Chapter 11: The private equity legal framework in the United States -- 11.1. Introduction to the US market -- 11.2. Why the United States and the United Kingdom differ from the EU: The common law versus civil law system and the imp ... -- 11.3. Rules for US equity investors -- 11.3.1. Venture capital funds -- 11.3.2. Small business investment companies -- 11.3.3. Corporate ventures -- 11.3.4. Banks -- 11.3.5. Business angels -- 11.4. The venture capital activity in the United States -- Further reading -- Chapter 12: The legal framework in the UK -- 12.1. Introduction -- 12.2. Rules for UK equity investors -- 12.2.1. Venture capital funds -- 12.2.2. Venture capital trusts -- 12.2.3. Merchant banks -- 12.2.4. Business angels -- 12.2.5. Dedicated public institutions -- 12.3. Clauses signed in an limited partnership agreement -- Further reading -- Chapter 13: The remuneration system -- 13.1. Introduction -- 13.2. The relationship between closed-end funds and AMCs -- 13.3. The remuneration mechanisms of the private equity industry -- 13.3.1. General overview of costs and revenues -- 13.3.2. Management fee -- 13.3.3. Carried interest -- 13.4. Case study 1: Remuneration in a closed-end fund -- 13.4.1.1. IRR for private equity -- 13.4.1.2. IRR for investors -- 13.4.1.3. IRR for private equity -- 13.4.1.4. IRR for investors 13.5. Case study 2: Metrics to assess the performance of an ongoing fund -- 13.6. Private equity funds performance -- Further reading -- Chapter 14: Taxation framework for private equity and fiscal impact for equity investors -- 14.1. Introduction -- 14.2. Fundamental role of taxation in private equity and venture capital -- 14.3. Taxation and equity investors: Lessons from theory and relevant models -- 14.3.1. Taxation on dividends, earnings, and capital gain -- 14.3.2. Fiscal incentive to startup and to incentivize R& -- D expenses -- 14.3.3. Fiscal incentive to increase leverage and/or equity -- 14.4. Taxation players: Investment vehicles, investors, companies demanding capital -- 14.5. Taxation features in Europe: A comparative analysis -- 14.5.1. Taxation in Italy -- 14.5.2. Vehicles: Taxation on dividends and capital gain -- 14.5.3. Investors: Taxation on dividends and capital gain -- 14.5.3.1. Legal entity -- 14.5.3.2. Private individuals -- 14.5.4. VBC: Mechanisms to affect startup expenses, R& -- D, and leverage ratio -- 14.5.4.1. Carry forward -- 14.5.4.2. Thin cap -- 14.5.4.3. Tax credit -- 14.5.4.4. Mark-down -- 14.5.4.5. Double income taxation -- 14.5.5. Taxation in France -- 14.5.6. Vehicles: Taxation on dividends and capital gain -- 14.5.6.1. Investors: Taxation on dividends and capital gain -- 14.5.6.2. VBC: Mechanisms to affect startup expenses, R& -- D, and leverage ratio -- Thin cap -- Tax credit -- Carry forward -- Carry back -- Mark down -- 14.5.7. Taxation in Germany -- 14.5.7.1. Vehicles: Taxation on dividends and capital gain -- 14.5.7.2. Investors: Taxation on dividends and capital gain -- Legal entity -- Private individuals -- 14.5.7.3. VBC: Mechanisms to affect startup expenses, R& -- D, and leverage ratio -- Carry forward -- Carry back -- Thin cap -- 14.5.8. Taxation in Spain Elsevier ScienceDirect All Books HTTP:URL=https://www.sciencedirect.com/science/book/9780323854016 |
| Subjects | LCSH:Venture capital -- Europe
All Subject Search
LCSH:Private equity -- Europe All Subject Search LCSH:Business enterprises -- Europe -- Finance All Subject Search LCSH:Investments -- Law and legislation -- Europe All Subject Search FREE:Business enterprises -- Finance All Subject Search FREE:Investments -- Law and legislation All Subject Search FREE:Private equity FREE:Venture capital FREE:Europe FREE:Electronic books |
| Classification | LCC:HG5428 DC23:332.04154094 |
| ID | 8000080494 |
| ISBN | 9780323854016 |
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