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Understanding the information considered in private equity buying decisions in South AfricaOlivey, Warren January 2016 (has links)
A research report submitted to the Faculty of Engineering and the Built Environment, University of the Witwatersrand, in fulfilment of the requirements for the degree of Masters in Engineering, May 2016 / The South African Private Equity Industry collects billions of Rands from investors locally and abroad and
utilises this cash to purchase controlling shares in companies operating within Africa. Within 5 to 10
years of purchase, these companies are purposefully altered, upgraded and moulded prior to resale.
Each Private Equity firm has different growth targets, but the generally expected result should be a
multiplication of the funds invested over that time. The mechanism by which these firms accomplish
such a result was of strategic importance for business people whom wish to decode the route to success
and apply the same actions in their organisations, or those they wish to evaluate for purchase.
This research aims to bridge a particular aspect of this process by acknowledging that the choice of
company to purchase was critical to the overall ability to grow and dispose of the company in the
allotted timeframe. In the run up to purchasing a company, Private Equity will contract external firms to
delve into a potential Target Firm. These Service Firms will report into the Private Equity client on
particular aspects of operations, finance and legality that would affect future running and risk profiles.
These reports would inform the buying decision, potential pricing structures and legalities of ownership
transfer right up to the point of sale.
The evaluation stages are graphically modelled as three distinct but sequential Phases at the end of an
extensive literature review. This Conceptual Model is tested against the results of a series of semistructured
interviews held with industry experts. The opinions of local Private Equity and Service Firm
respondents are sorted, refined and presented as a more detailed Modified Model at the end of the
report. It was found that through substantial refinement of disconnected data, the available literature
largely agreed with expert opinion in practice.
The research concludes that the proposed evaluation Models constitute a useful starting platform from
which to conduct future research into specific aspects of Private Equity activity. / MT2016
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Venture Capital Contracts with Moral HazardChen, Hou-geng 11 August 2005 (has links)
Abstract
With a focus on the three contracts¡Xranging from the common stock contract to the more sophisticated contracts of convertible debt and staged financing stock, this study aims at studying the moral hazard concerning a venture capitalist and an entrepreneur in their venture financing.
The two objectives of the present study are: to compare the optimal levels for a venture capitalist and an entrepreneur when they are fully informed or when they are under moral hazard, given that the two parties are in the same type of contract; to compare the optimal levels for a venture capitalist and an entrepreneur of the three contracts.
This study intends to construct a utility maximum model for a venture capitalist and an entrepreneur in the three contracts and to work out the optimal levels for a venture capitalist and an entrepreneur when they are fully informed or when they are under moral hazard.
The conclusion is as follows:
1. Of the three contracts, the optimal effort levels for a venture capitalist and an entrepreneur under full information are all larger than those under moral hazard.
2. Of the three contracts, a venture capitalist and an entrepreneur¡¦s optimal effort levels are: The optimal effort levels for convertible debt are larger than those for common stock, and the optimal effort levels for common stock are larger than those for staged financing stock.
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Two essays in financial contracting /Marone, Guilhierme Cortella. January 2001 (has links)
Thesis (Ph. D.)--University of Chicago, Dept. of Economics, June 2001. / Includes bibliographical references. Also available on the Internet.
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Private investors and entrepreneurs : how context shapes their relationshipKelly, Peter Steven January 2000 (has links)
No description available.
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Venture capital in Hong Kong : a perspective study and recommendations /Yip, Ying-chi, Benjamin. January 1993 (has links)
Thesis (M.B.A.)--University of Hong Kong, 1993. / Includes bibliographical references (leaves 76-77).
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The nature of interaction between Israeli entrepreneurs and investment capital available within and from outside Israel a dissertation submitted to Auckland University of Technology in partial fulfilment of the requirements for the degree of Master of Business (MBus), 2008.Friedman, Avishai. January 2008 (has links) (PDF)
Dissertation (MBus) -- AUT University, 2008. / Includes bibliographical references. Also held in print (85 leaves : ill. ; 30 cm.) in City Campus Theses Collection (T 332.0415 FRI)
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Venture capitalists' exit strategies under information asymmetry evidence from the US venture capital market /Eckermann, Matthias. January 2005 (has links)
Zugl.: Dresden, Techn. University, Diss., 2005. / Description based on print version record.
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Equity financing and covenants in venture capital an augmented contracting approach to optimal German contract design /Jung-Senssfelder, Karoline. January 2006 (has links)
European Business School, Diss.--Oestrich-Winkel, 2005.
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The outcomes, objectives, limitations and enablers of Corporate Venture Capital investing in South AfricaLevin, Rob 07 June 2014 (has links)
In light of the emergence of corporate venture capital activity in developed markets,
resulting in a large portion of start-ups being invested in by corporate venture capital
investors, this research paper explored the activities, objectives, outcomes, limitations
and enablers of corporate venture capital investments in South Africa.
The research process consisted of a literature review that analysed international
literature and where available, literature pertaining to the South Africa, focusing on
objectives, outcomes, limitations and enablers of corporate venture capital investments
in other markets.
Twelve unstructured interviews were conducted with corporate venture capitalists,
entrepreneurs and independent venture capitalists. Ethical compliance was observed
during every interview, ensuring that the integrity of the data was maintained. The data
was analysed with the assistance of computer-assisted qualitative data analysis
software (CAQDAS).
The research found that the corporate venture capital market in South Africa is
underdeveloped in comparison to international markets. There are no distinct
strategies employed by those individuals interviewed. However, the outcomes,
objectives, limitations and enablers were similar to those in international markets.
A framework has been suggested to assist corporate venture capital investors in South
Africa, ensuring that they are aware of the objectives, outcomes, limitations and
enablers that they could encounter when performing corporate venture capital investments. / Dissertation (MBA)--University of Pretoria, 2013. / mngibs2014 / Gordon Institute of Business Science (GIBS) / MBA / Unrestricted
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Venture Capital Firms Investments: Clean and Green? : A Qualitative Study of how Venture Capital Firms in Sweden Evaluate Cleantech CompaniesNilsson, Henrik, Pettersson, Emma-Lisa January 2012 (has links)
No description available.
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