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Review Essay: Global Venture Capital Transactions

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  • Douglas Cumming

Abstract

This article reviews a timely legal book on Global Venture Capital Transactions in the context of academic entrepreneurial finance work on venture capital contracting. Legal scholarship in Global Venture Capital Transactions is provided for 12 countries (Austria, Belgium, Canada, Finland, Germany, Hong Kong, Hungary, India, Italy, the Netherlands, Taiwan and the US). This paper relates the legal scholarship in Global Venture Capital Transactions to empirical evidence from entrepreneurial finance scholarship on venture capital contracting. Contracting data from cross-border financings of US VCs financing Canadian entrepreneurs are also introduced in this article to illustrate the role of the law in venture capital transactions.

Suggested Citation

  • Douglas Cumming, 2005. "Review Essay: Global Venture Capital Transactions," Venture Capital, Taylor & Francis Journals, vol. 7(2), pages 185-201, January.
    • Handle: RePEc:taf:veecee:v:7:y:2005:i:2:p:185-201
    DOI: 10.1080/13691060500061289
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    References listed on IDEAS

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    1. Keuschnigg, Christian, 2003. "Optimal Public Policy for Venture Capital Backed Innovation," CEPR Discussion Papers 3850, C.E.P.R. Discussion Papers.
    2. Christian Keuschnigg, 2003. "Public Policy and Venture Capital Backed Innovation," CESifo Working Paper Series 1066, CESifo.
    3. Steven N. Kaplan & Frederic Martel & Per Stromberg, 2003. "How Do Legal Differences and Learning Affect Financial Contracts?," NBER Working Papers 10097, National Bureau of Economic Research, Inc.
    4. Giacinta CESTONE, 2001. "Venture Capital Meets Contract Theory: Risky Claims or Formal Control?," UFAE and IAE Working Papers 480.01, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    5. Cumming, Douglas & Schmidt, Daniel & Walz, Uwe, 2004. "Legality and venture governance around the world," CFS Working Paper Series 2004/17, Center for Financial Studies (CFS).
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    Cited by:

    1. Darek Klonowski, 2006. "Local Laws and Venture Capital Contracting in Transition Economies: Evidence from Poland," Post-Communist Economies, Taylor & Francis Journals, vol. 18(3), pages 327-343.
    2. Magnus Henrekson & Tino Sanandaji, 2018. "Stock option taxation: a missing piece in European innovation policy?," Small Business Economics, Springer, vol. 51(2), pages 411-424, August.

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