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Financement par capital de risque : Évolution des connaissances des dix dernières années et avenues de recherche

Références

  • Admati, A.R. et P. Pfleiderer (1994), Robust financial contracting and the role of venture capitalists, The Journal of Finance, vol. 49, n° 2, pp. 371-402.
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  • Axiss Australia (2002), The Australian venture capital industry : developments and trends, Rapport dans le cadre du positionnement de l'Australie comme un centre de services financiers, 41 pages, disponible sur www.axiss.com.au (en anglais seulement).
  • Ayayi, A. (2002), Optimal capital structure and the interactions between new venture investment and venture capital finance, Document de recherche, Ryerson University, 40 pages, disponible sur www.ssrn.com (en anglais seulement).
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  • Bascha, A. (2000), Why do venture capitalists hold different types of equity securities?, Document de recherche, EFA 0356, janvier, 27 pages, disponible sur www.ssrn.com (en anglais seulement).
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  • Bascha, A. et U. Walz (2001), Financing practices in the German venture capital industry: an empirical assessment, Document de recherche, University of Tünbingen, 28 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Baygan, G. (2003a), Venture capital policy review : United Kingdom, Document de recherche DSTI/DOC, OCDE.
  • Baygan, G. (2003b), Venture capital policy review : Korea, Document de recherche DSTI/DOC, OCDE.
  • Baygan, G. (2003c), Venture capital policy review : Israël, Document de recherche DSTI/DOC, OCDE.
  • Baygan, G. (2003d), Venture capital policy review : Canada, Document de recherche DSTI/DOC, OCDE.
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  • Bernhardt D. et V. Dvoracek (2000), Monitoring and evaluation by financiers, Document de recherche n° 00-0115, University of Illinois.
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  • Bhide A.V. (2003), Taking care : how efforts to control oblivious ignorance affect investment decisions, Document de recherche, Columbia University, février, 40 pages, disponible sur www.ssrn.com (en anglais seulement).
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  • Bigus, J. (2002b), Venture financing and security incentive, Document de recherche, Hamburg University, Institute of Law and Economics, 25 pages, disponible sur www.ssrn.com (en anglais seulement).
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  • Bourdeau, G., A. Noël et J.-M. Toulouse (1994), Un profil de l'industrie du capital de risque au Québec, Document de recherche n° 94-03-01, École des HEC, Montréal, 25 pages.
  • Brander, J.A., R. Amit et W. Antweiler (2002), Venture-capital syndication: improved venture selection vs. the value-added hypothesis, Journal of Economics and Management Strategy, vol. 11, n° 3, automne, pp. 423-452.
  • Bratton, W.W. (2002), Venture capital on the downside : preferred stock and corporate control, Michigan Law Review, vol. 100, n° 5, 76 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Brav, A. et P.A. Gompers (1997), 'Myth or reality'? The long-run underperformance of initial public offerings: evidence from venture and nonventure capital-backed companies, The Journal of Finance, vol. 52, n° 2, pp. 1791-1821.
  • Bruining, H. et M. Wright (2002), Entrepreneurial orientation in management buy-outs and the contribution of venture capital, Document de recherche n° 2002-67-ORG, ERIM, 28 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Brush, C.G., N.M. Carter, P.G. Greene, M.M. Hart et E. Gatewood (2002), The role of social capital and gender in linking financial suppliers and entrepreneurial firms: A framework for future research, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 4, n° 4, pp. 305-323.
  • Brush, C.G., N.M. Carter, E. Gatewood, P.G. Greene et M.M. Hart (2001), An Investigation of women-led firms and venture capital investment, Document de recherche préparé pour U.S. Small Business Administration (SBA), National Women's Business Council, disponible sur : www.sba.gov/advo/research/rs214tot.pdf (en anglais seulement)
  • Bruton, G.D., D. Ahlstrom et K. Singh (2002), The impact of the institutional environment on the venture capital industry in Singapore, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 4, n° 3, pp. 197-218.
  • Cable, D.M. et S. Shane (1997), A prisonner's dilemma approach to entrepreneur-venture capitalist relationships, Academy of Management Review, vol. 22, n° 1, pp. 142-176.
  • Callahan, J. et S. Muegge (2002), Venture capital's role in innovation: issues, research and stakeholder interests, Document de recherche, Carleton University, novembre, 71 pages.
  • Carter, R. et H. Van Auken (1994), Venture capital firms' preferences for projects in particular stages of development, Journal of Small Business Management, vol. 32, n° 1, pp. 60-73.
  • Casamatta, C. (2002), Financing and advising : optimal financial contracts with venture capitalists, Document de recherche n° 3475, CEPR, juillet, disponible sur www.ssrn.com.
  • Casares Field, L. et G.R. Hanka (2002), The expiration of IPO share lockups, Journal of Finance, À venir.
  • Cestone, G. (2002), Venture capital meets contract theory : risky claims or formal control?, Document de recherche n° 3462, CEPR, juillet, disponible sur www.ssrn.com (en anglais seulement).
  • Chang, C.K.N., S.S. Shipp et A.J. Wang (2002), The advanced technology program: a public-private partnership for early stage technology development, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 4, n° 4, pp. 363-370.
  • Chemla, G., M.A. Habib et A.P. Ljungqvist (2002), An analysis of shareholder agreements, Document de recherche n° 3457, CEPR, juillet, 34 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Chemmanur, T.J. et Z. Chen (2002), Angels, venture capitalists, and entrepreneurs: a dynamic model of private equity financing, Document de recherche, AFA 2003, Washington, DC Meetings, 54 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Chesbrough, H. (1999), The organizational impact of technological change: a comparative theory of national institutional factors, Industrial and Corporate Change, vol. 8, n° 3, 44 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Chesbrough, H. (2002), The governance and performance of Xerox's technology spin-off companies, Document de recherche, Havard Business School, 41 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Choi, S.J. (2002), Law, finance and path dependence: developing strong securities markets, Document de recherche, University of California at Berkeley, 80 pages, disponible sur www.ssrn.com (en anglais seulement)
  • Chu, P. et R. Hisrich (2001), Venture capital in an economy in transition, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 3, n° 2, pp. 169-182.
  • Clendenning, E.W. & Associates (2001), Issues surronding venture capital, initial public offerings (IPO) and post-IPO equity financing for Canadian small and medium-sized businesses (SMEs), Rapport préparé pour Industrie Canada, mars, 64 pages.
  • Clendenning, E.W. & Associates (2002), Le financement des petites et moyennes entreprises (PME) au Canada, Rapport préparé pour Industrie Canada, 113 pages.
  • Cochrane, J.H. (2001), The risk and return to venture capital, Document de recherche n° 8066, National Bureau of Economic Research, 39 pages.
  • Cornelius, B. et J. Cooper (2002), Optimal contracts in venture capital: an application of game theory negociation, Document de recherche, University of Wollongong.
  • Cornelius, B. et S.A. Naqi (2002), Resource exchange and the Asian venture capital fund/portfolio company dyad, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 4, n° 3, pp. 253-265.
  • Cornelli, F. et O. Yosha (2000), Stage financing and the role of convertible debt, London, Document de recheche, 48 pages.
  • Crocker, K.J. et K.J. Reynolds (1993), The efficiency of incomplete contracts: an empirical analysis of air force engine procurement, Rand Journal of Economics, vol. 24, n°1, printemps, pp. 126-146.
  • Cumming, D. (2001a), Is the optimality of conventional venture capital financial contracts generalizable?, Document de recherche, University of Alberta, School of Business, 34 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Cumming, D. (2001b), The determinants of venture capital portfolio size: empirical evidence, Document de recherche, University of Alberta, School of Business, 38 pages.
  • Cumming, D. (2002a), United States venture capital contracting: foreign securities, Document de recherche, University of Alberta, School of Business, mai, 42 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Cumming, D. (2002b), Contracts and exits in venture capital finance, Document de recherche, University of Alberta, AFA 2003 Washington, DC Meetings, 39 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Cumming, D. (2002c), Adverse selection and capital structure: evidence from venture capital, Document de recherche, University of Alberta, juillet, 37 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Cumming, D. (2002d), The convertible preferred equity puzzle in Canadian venture capital finance, Document de recherche, EFMA 2001 Lugano Meetings, University of Alberta, avril, 44 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Cumming, D.J. et G. Fleming (2002), A law and finance analysis of venture capital exits in emerging markets, Document de recherche en finance n° 02-03, The Australian National University, Australie.
  • Cumming, D. et J.G. MacIntosh (2000), The extent of venture capital exits: evidence from Canada and the United States, Document de recherche n° 01-03, University Toronto Law and Economics, octobre, 43 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Cumming, D. et J.G. MacIntosh (2002a), Crowding out private equity: Canadian evidence, Document de recherche, University of Alberta, août, 48 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Cumming, D. et J.G. MacIntosh (2002b), Venture capital investment duration in Canada and the United States, Journal of Multinational Financial Management, vol. 11, décembre.
  • Cumming, D. et J.G. MacIntosh (2002c), Venture capital exits in Canada and the United States, University of Toronto Law Journal, 109 pages, disponible sur www.ssrn.com.
  • Cumming, D.J. et J. MacIntosh (2002d), A cross-country comparison of full and partial venture capital exits, à paraître dans Journal of Banking and Finance, disponible sur www.ssrn.com (en anglais seulement).
  • D'Souza, C. et A. Lai (2002), The effects of bank consolidation on risk capital allocation and market liquidity, Document de recherche 2002-5, Banque du Canada, disponible sur www.banqueducanada.ca.
  • Dahlstrand, A.L. et D. Cetindamar (2000), The dynamics of innovation financing in Sweden, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 2, n° 3, pp. 203-221.
  • Darby, M.R. et L.G. Zucker (2002), Going public when you can in biotechnology, Document de recherche n° W8954, NBER, mai, disponible sur www.ssrn.com (en anglais seulement).
  • De Clerq, D., P.K. Goulet, M. Kumpulainen et M. Mäkelä (2001), Portfolio investment strategies in the Finnish venture capital industry: a longitudinal study, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 3, n° 1, pp. 41-62.
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  • Deakins, D., E. O'Neill et P. Mileham (2000), The role and influence of external directors in small, entrepreneurial companies: some evidence on VC and non-VC appointed external directors, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 2, n° 2, pp. 111-127.
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  • Denny, M. (2000), The UK venture capital industry and investment in smaller companies and technology start ups, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 2, n° 2, pp. 155-164.
  • Dessein, W. (2002), Information and control in alliances and ventures, Document de recherche n° 3418, CEPR, juin, disponible sur www.ssrn.com (en anglais seulement).
  • Dietz, M.D. (2002), Risk, self selection and advice: banks versus venture capitalists, Document de recherche, février, 23 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Dittmann, I., E.G. Maug et J. Kemper (2002), How fundamental are fundamental values? Valuation methods and their impact on the performance of German venture capitalists, Document de recherche, 40 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Dix, M. et N. Gandelman (2002), R&D institutional arrangements : start-up ventures vs. internal lab, Document de recherche.
  • Doran, A. et G. Bannock (2000), Publicly sponsored regional venture capital: what can the UK learn from the US experience?, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 2, n° 4, pp. 255-285.
  • Douglas, E.J. et D. Shepherd (2002), Exploring investor readiness: assessments by entrepreneurs and investors in Australia, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 4, n° 3, pp. 219-236.
  • Doukas, J.A. et H. Gönenç (2000), Long-term performance of initial public offerings : venture capitalists and reputation of investment bankers, Document de recherche, EFMA 2000 Athens, 36 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Doukas, J.A. et H. Gönenç (2002), Long-term performance of new equity issures, venture capital and reputation of investment bankers, Document de recherche, 67 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Dubocage, E. et D. Rivaud-Danset (2002), Government policy on venture capital support in France, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 4, n° 1, pp. 25-43.
  • Duffy, T. (1999), Venture capital, ComputerWorld, 11 octobre, p. 60.
  • Dufresne, D. (2000), L'influence des sociétés de capital de risque sur le développement organisationnel des PME, Mémoire de maîtrise, Université du Québec à Trois-Rivières, mai, 113 pages.
  • Dzienkowski, J.S. et R.J. Peroni (2003), The decline in lawyer independance: lawyer equity investments in clients, Texas Law Review, vol. 81, p. 405, disponible sur www.ssrn.com (en anglais seulement).
  • Engel, D. (2002), The impact of venture capital on firm growth: an empirical investigation, Document de recherche n° 02-02, Centre for Enropean Economic Research (ZEW), 34 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Engel, E., E.A. Gordon et R.M. Hayes (2001), Incentives and governance in entrepreneurial firms, Document de recherche, 49 pages, disponible sur www.ssrn.com (en anglais seulement).
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  • Equinox Management Consultants Ltd. (2002), Les lacunes dans le financement des PME : cadre d'analyse, Rapport préparé pour Industrie Canada, février, 77 pages.
  • Erikson, T. et L. Nerdrum (2001), New venture management valuation: assessing complementary capacities by human capital theory, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 3, n° 4, pp. 277-290.
  • Espenlaub, S., I. Garrett et W.P. Mun (1999), Conflicts of interest and the performance of venture-capital-backed IPOs: a preliminary look at the UK, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 1, n° 4, pp. 325-349.
  • Fausnaugh, C.J. et C.W. Hofer (1993), Cognitive mapping as a research technique for entrepreneurship research: an exploratory study, Actes de la 38ième conférence mondiale de l'International Council for Small Business, Las Vegas, 20 au 23 juin, 12 pages.
  • Feeney, L., G.H. Haines Jr. et A.L. Riding (1999), Private investors' investment criteria: insights from qualitative data, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 1, n° 2, pp. 121-145.
  • Ferjani, W. (2000), L'analyse du processus décisionnel d'investissement des sociétés de capital de risque québécoises, Mémoire de maîtrise, Université du Québec à Trois-Rivières, septembre, 153 pages.
  • Ferjani, W., C. Mathieu et R. Beaudoin (2000), L'influence de la structure de propriété des sociétés de capital de risque québécoises sur leur processus décisionnel, Communication présentée au 5ième congrès international francophone sur les PME, Lille, 25 pages.
  • Fernandez-Jardon, C. M. et F.X. Martinez Cobas (1998), Effets indirects des sociétés de capital de risque dans les petites et moyennes entreprises, 4ième congrès international francophone sur les PME, Metz.
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  • Fiet, J.O. (1997), Fragmentation in the market for venture capital, Entrepreneurship Theory and Practice, hiver, pp. 5-20.
  • Filatotchev, I. (2002), Going public with good governance: board selection and share ownership in UK IPO firms, Document de recherche, 41 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Fisch, J.E. (2002), Can Internet offerings bridge the small business capital barrier?, Document de recherche.
  • Fisher, J.D., D.H. Gatzlaff, D.M. Geltner et D.R. Haurin (2002), Controlling for variable liquidity and selection bias in indices of private asset market values, Document de recherche, 54 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Fox, J.W. (1996), The venture capital mirage: assessing USAID experience with equity investment, Rapport d'évaluation n° 17, U.S. Agency for International Development, 29 pages.
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  • Fulghieri, P. et M. Sevilir (2001), The ownership and financing of innovation in R&D races, Document de recherche, AFA 2003 Washington, DC Meetings, décembre, 59 pages, disponible sur www.ssrn.com (en anglais seulement).
  • Gabrielsson, J. et M. Huse (2002), The venture capitalist and the board of directors in SMEs: roles and processes, Venture Capital: An International Journal of Entrepreneurial Finance, vol. 4, n° 2, pp. 125-146.
  • Gannon, M. (1999), Oh Canada: the growth of the venture capital industry is making slow but steady progress in the Great White North, Venture Capital Journal, juillet, pp. 41-43.
  • Gans, J.S. et S. Stern (2000), When does funding research by smaller firms bear fruit?: Evidence from the SBIR Program, Document de recherche n° W7877, NBER, septembre, disponible sur www.ssrn.com.
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  • Gerke, W. (2002), Market failure in venture capital markets for new medium and small enterprise, Document de recherche.
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