Venture Capital Investment: An Agency Analysis of UK Practice, 1st Edition (Paperback) book cover

Venture Capital Investment

An Agency Analysis of UK Practice, 1st Edition

By Gavin Reid


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Paperback: 9780415757430
pub: 2014-02-27
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Gavin Reid presents a systematic analysis of what drives investor-investee relations in venture capital markets. In the first analytical work to use a unified framework, he draws upon a modern and general approach to contracting relations, namely principal-agent analysis. This book establishes a clear theoretical framework involving risk management, information handling and the 'trading' of risk and information. Using powerful modern theory as a general and coherent frame of reference to analyse an extensive body of new evidence, the author shows how top investors manage risk and monitor investees, and examines the best relationship between investor and investee. Exploring the principles governing high-risk/high-return investment, this is a unique insight into the turbulent world of the venture capitalist.


'…the author provides a wealth of new information and sheds new light on the workings of the British venture capital market…above all, the study raises many new questions to which future researchers should turn their attention' - Anrea Schertler, Review of World Economics

'…this book represents an exciting initial step in our empirical understanding of the British venture industry.' - Josh Lerner, Harvard University and National Bureau of Economic Research, USA

'Gavin Reid's Venture Capital Investment is a welcome addition to the literature' -- Josh Lerner, Harvard University and National Bureau of economic Research, USA

About the Series

Routledge Studies in the Modern World Economy

In an increasingly interdependent world, many of the most important issues are driven by economic forces. This series applies newly developed economic techniques to some of the most pressing contemporary problems. The aim of the series is to demonstrate the relevance of modern economic theory to the modern world economy, and to provide key reading for researchers and policy-makers.

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Economics / General