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dc.contributor.authorCumming, Douglas
dc.contributor.authorFleming, Grant
dc.contributor.authorJohan, Sofia
dc.contributor.authorNajar, Dorra
dc.date.accessioned2013-01-09T08:35:31Z
dc.date.available2013-01-09T08:35:31Z
dc.date.issued2013
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/10801
dc.language.isoenen
dc.subjectEthicsen
dc.subjectEntrepreneurshipen
dc.subject.ddc658en
dc.subject.classificationjelL25en
dc.subject.classificationjelG32en
dc.subject.classificationjelK22en
dc.subject.classificationjelM14en
dc.subject.classificationjelL22en
dc.titleLaw and Corruption in Venture Capital and Private Equityen
dc.typeChapitre d'ouvrage
dc.description.abstractenThis chapter summarizes recent research on the role of law, culture and corruption on venture capital (VC) fund structure, governance and performance. Evidence from studies that involve a multitude of countries is primarily considered. The evidence across most studies is broadly consistent with the view that legal protection enables superior compensation arrangements in limited partnerships where the interests of general partners and limited partners is aligned. More corrupt countries, by contrast, have less efficient compensation structures. The evidence further indicates that better legal systems facilitate contract performance. Finally, the evidence show countries with higher levels of corruption have higher levels of returns, suggesting that fund managers are able to alleviate the effects of corruption in investee companies. In our concluding comments we discuss venture capital around the world and its future development in relation to law, corruption and culture.en
dc.identifier.citationpages87-110en
dc.relation.ispartoftitleEntrepreneurship, Finance, Governance and Ethicsen
dc.relation.ispartofeditorCressy, Robert
dc.relation.ispartofeditorCumming, Douglas
dc.relation.ispartofeditorMallin, Chris
dc.relation.ispartofpublnameSpringeren
dc.relation.ispartofpublcityBerlinen
dc.relation.ispartofdate2013
dc.relation.ispartofpages455en
dc.relation.ispartofurlhttp://dx.doi.org/10.1007/978-94-007-3867-6en
dc.subject.ddclabelGestion des entreprisesen
dc.relation.ispartofisbn978-94-007-3866-9en
dc.relation.forthcomingnonen
dc.identifier.doihttp://dx.doi.org/10.1007/978-94-007-3867-6_5en


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