Exit-Strategien von Venture Capital-Gesellschaften - Bookswagon
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Exit-Strategien von Venture Capital-Gesellschaften

Exit-Strategien von Venture Capital-Gesellschaften


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About the Book

Diplomarbeit aus dem Jahr 2005 im Fachbereich BWL - Investition und Finanzierung, Note: 1.5, Technische Universität Dresden, Sprache: Deutsch, Abstract: Die vorliegende Arbeit beschäftigt sich mit der Exit-Problematik von Venture Capital- Gesellschaften. Ende der 90er Jahre erlebte der Venture Capital-Markt seinen bisher stärksten Aufschwung. Angetrieben von der Aufbruchstimmung durch den Übergang ins Informationszeitalter und den damit verbundenen hohen Renditeaussichten nahm das Investitionsvolumen deutlich zu. Dank dieser Beteiligungsgelder sind mittlerweile gereifte Unternehmen entstanden, die in absehbarer Zukunft wieder veräußert werden müssen. Mit dem Zusammenbruch der Neuen Märkte ist allerdings die beliebte und erfahrungsgemäß sehr lukrative Desinvestition über die Börse eingeschränkt. Die bekannten Exit-Alternativen können die entstandene Lücke bisher nur ungenügend schließen. Ziel der Arbeit ist es weitere Exit-Strategien aufzuzeigen und zu bewerten sowie die wesentlichen Einflussfaktoren zu identifizieren, die den Zeitpunkt und die Form des Beteiligungsausstieges beeinflussen. Die Untersuchung dieser Sachverhalte basiert auf der Analyse theoretischer und empirischer Sekundärquellen. Um die praktische Relevanz der gewonnen Ergebnisse zu unterlegen, werden ferner sechs Experteninterviews durchgeführt. Die Desinvestition aus einem Portfoliounternehmen, als letzte und zugleich wichtigste Wertschöpfungsstufe, verursacht aufgrund konträrer Zielstellungen einen Konflikt zwischen den Akteuren. Das Verhalten und die Fähigkeiten der Interessenparteien beeinträchtigen nicht nur die vorherige kontinuierliche Unternehmensentwicklung, sondern auch das wirtschaftliche Ergebnis des abschließenden Beteiligungsausstieges. Neben diesem internen Zielkonflikt werden auch möglich Einflüsse durch weitere Stakeholder der Desinvestition sowie Umfeldfaktoren betrachtet. Auf Basis vorliegender Sekundärquellen und sachlogischer Überlegungen wird ein theoretischer Rahmen zur empiris


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Product Details
  • ISBN-13: 9783867469074
  • Publisher: Examicus Verlag
  • Publisher Imprint: Examicus Verlag
  • Height: 210 mm
  • No of Pages: 128
  • Spine Width: 8 mm
  • Width: 148 mm
  • ISBN-10: 3867469075
  • Publisher Date: 10 Mar 2012
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Weight: 227 gr


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