search query: @author Ackermann, N. / total: 1
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| Author: | Perlitz, M. Seger, F. Ackermann, N. |
| Title: | Eignung des Neuen Markts für die Desinvestition von Venture Capital-Beteiligungen im Vergleich zu alternativen Börsen- segmenten |
| Journal: | Zeitschrift für Betriebswirtschaft
1999 : ERGÄNZUNGSHEFT 3, p. 107-130 |
| Index terms: | CAPITAL INVESTMENT STOCK MARKETS VENTURE CAPITAL GERMANY |
| Language: | ger |
| Abstract: | This paper examines the suitability of the Neuer Markt and of alternative stock markets as exit channel of venture capital investments. The results are based on a survey among venture capitals who are active on the German Market. A sui- table stock market segment excels by a high absorption capa- city and an attractive achievable valuation as well as a high liquidity. Strict accounting rules and regular research provide the necessary information for potential and actual investors. Using a scoring model we show that the Nasdaq exceeds the score of the Neue Markt. The latter, however, suits better as exit channel of venture capital investments than the Nas- daq does, mainly because of its higher achievable valuation and liquidity, but above all, dut to the broad acceptance of the Neue Markt in the public opinion. |
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