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| Author: | Sahlman, W. A. |
| Title: | The structure of governance of venturecapital organizations |
| Journal: | Journal of Financial Economics
1990 : OCT, VOL. 27:2, p. 473-521 |
| Index terms: | CORPORATE STRUCTURE COMPANY CONTROL VENTURE CAPITAL |
| Language: | eng |
| Abstract: | The structure of venture-capital organizations is described and analyzed, focusing on the relationship between investors and venture-capitalists and between venture-capital firms and the ventures in which they invest. The agency problems in these organizations and the contracts and operating procedures that have evolved in response are emphasized. Venture-capital organizations are contrasted with large, publicly traded corporations and with leveraged buyout organizations. |
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