• Validity and reliability of scores on the reduced Emotional Intensity Scale

      Geuens, Maggie; De Pelsmacker, Patrick; Geuens, Maggie; De Pelsmacker, Patrick (2002)
    • Valuation of Angel-backed companies: The role of investor human capital

      Collewaert, Veroniek; Manigart, Sophie; Collewaert, Veroniek; Manigart, Sophie (2016)
      This paper examines how angel investors' human capital affects the valuation of their portfolio companies, based on the pre-money valuation of 123 investment rounds in 58 Belgian companies. We argue that angel investors with higher levels of human capital will perceive a higher value-creating potential in entrepreneurial opportunities through their ability to see more value-creating options, a higher value-adding potential post-investment and an enhanced legitimacy provided to the venture. Economic theories suggest they appropriate these rents through lower valuations, while stewardship theory suggests they share value creation with entrepreneurs. Consistent with stewardship theory, we show angel investors negotiate higher valuations when they have higher levels of human capital, more specifically if they studied longer, have a business degree, more entrepreneurial experience or previous professional law experience. As such, our results contrast with the behaviour of venture capital investors who negotiate lower valuations when they have more experience.
    • Value creation and division of gains in horizontal acquisitions in Europe: the role of industry conditions

      Huyghebaert, Nancy; Luypaert, Mathieu; Huyghebaert, Nancy; Luypaert, Mathieu (2013)
    • Value creation and the alliance experiences of Dutch companies

      Sleuwaegen, Leo; Schep, K.; den Hartog, Gijs; Commandeur, Harry; Sleuwaegen, Leo; Schep, K.; den Hartog, Gijs; Commandeur, Harry (2003)
    • Value Creation in Mergers and Acquisitions: A Study of European Transactions during the Fifth Wave

      Huyghebaert, Nancy; Luypaert, Mathieu; Huyghebaert, Nancy; Luypaert, Mathieu (2009)
    • Van bancassurance en assurfinance naar all finance

      Van den Berghe, Lutgart; Verweire, Kurt; Van den Berghe, Lutgart; Verweire, Kurt (1998)
    • Van verzorgingsstaat naar verzekeringsstaat

      Van den Berghe, Lutgart; Van den Berghe, Lutgart (Erasmus Universiteit Rotterdam, 1996)
    • Vast, voltijds en levenslang. Het onwrikbare eenbaanskarakter van de loopbaan

      Buyens, Dirk; De Vos, Ans; Heylen, Leen; Mortelmans, Dimitri; Soens, Nele; Buyens, Dirk; De Vos, Ans; Heylen, Leen; Mortelmans, Dimitri; Soens, Nele (2006)
    • Vendor Selection and Evaluation: An Activity Based Costing Approach

      Roodhooft, Filip; Konings, Jozef; Roodhooft, Filip; Konings, Jozef (1997)
    • Venture capital

      Manigart, Sophie; Baeyens, Katleen; Manigart, Sophie; Baeyens, Katleen (2002)
    • Venture capital firms and equity investment appraisal in the US, UK, France, Belgium and Holland

      Wright, Mike; Manigart, Sophie; Desbrières, Philippe; Sapienza, Harry J.; Wright, Mike; Manigart, Sophie; Desbrières, Philippe; Sapienza, Harry J. (University of Nottingham, 1997)
    • Venture capital in the U.S.A., Europe and Japan

      Ooghe, Hubert; Bekaert, A.; Van Den Bossche, P.; Ooghe, Hubert; Bekaert, A.; Van Den Bossche, P. (1989)
    • Venture capital internationalization: Synthesis and future research directions

      Devigne, David; Manigart, Sophie; Vanacker, Tom; Mulier, Klaas; Devigne, David; Manigart, Sophie; Vanacker, Tom; Mulier, Klaas (Wiley, 2018)
      Research on venture capital (VC) internationalization has expanded rapidly over the last decade. This paper reviews the extant literature on VC internationalization and highlights gaps in our knowledge. We identify three major research streams within this literature, which revolve around the following questions: (1) which VC firms invest across borders and what countries do they target; (2) how do VC firms address liabilities of foreign investing; and (3) what are the real effects of international VC investments? We provide an overview of the contributions in these research streams, discuss the role of public policy, and suggest avenues for future research. Specifically, we call for a deeper understanding of: (1) the functioning and impact of VC firms’ modes of internationalization; (2) micro-level processes such as the functioning and decision making of international investment committees, or the development of international human and social capital; (3) the role of country institutions in VC internationalization and its real effects; and (4) the interplay of international VC with alternative financing sources.
    • Venture capital investors, capital markets, valuation and information: US, Europe and Asia

      Wright, Mike; Lockett, Andy; Pruthi, S.; Manigart, Sophie; Sapienza, Harry J.; Desbrières, Philippe; Hommel, Ulrich; Wright, Mike; Lockett, Andy; Pruthi, S.; Manigart, Sophie; Sapienza, Harry J.; Desbrières, Philippe; Hommel, Ulrich (2004)
    • Venture capital: méér dan enkel financiering? Een vergelijkend onderzoek in vier landen

      Manigart, Sophie; Sapienza, Harry J.; Vermeir, Wim; Manigart, Sophie; Sapienza, Harry J.; Vermeir, Wim (1995)
    • Venture capitalist governance and value-added in four countries

      Manigart, Sophie; Sapienza, Harry J.; Vermeir, Wim; Manigart, Sophie; Sapienza, Harry J.; Vermeir, Wim (1996)
      The rapid internationalization of markets for venture capital is expanding the funding alternatives available to entrepreneurs. At issue for both entrepreneurs and venture capital firms is how and when venture capitalists (VC) can provide meaningful oversight and add value to their portfolio companies beyond the provision of capital. An important way VCs add value beyond the money they provide is through their close relationships with the managers of their portfolio companies. Utilizing surveys of VCs in the US, the UK, the Netherlands, and France, the determinants of interaction between VCs and CEOs, the roles VCs assume, and VCs' perceptions of how much value they add through these roles are examined. The strategic, interpersonal, and networking roles through which VCs are involved in their portfolio companies are examined, and the success of such efforts are analyzed. VCs saw strategic involvement as their most important role.
    • Venture capitalist-entrepreneur relationships in technology-based ventures

      De Clercq, Dirk; Sapienza, Harry J.; De Clercq, Dirk; Sapienza, Harry J. (2000)
    • Venture capitalists' appraisal of investment projects: an empirical European study

      Manigart, Sophie; Wright, Mike; Robbie, K.; Desbrières, Philippe; De Waele, K.; Manigart, Sophie; Wright, Mike; Robbie, K.; Desbrières, Philippe; De Waele, K. (1997)
    • Venture capitalists' decision to syndicate

      Manigart, Sophie; Lockett, Andy; Meuleman, Miguel; Wright, Mike; Landström, Hans; Bruining, Hans; Desbrières, Philippe; Hommel, Ulrich; Manigart, Sophie; Lockett, Andy; Meuleman, Miguel; Wright, Mike; Landström, Hans; Bruining, Hans; Desbrières, Philippe; Hommel, Ulrich (2006)
      Financial theory, access to deal flow, selection, and monitoring skills are used to explain syndication in venture capital firms in six European countries. In contrast with U.S. findings, portfolio management motives are more important for syndication than individual deal management motives. Risk sharing, portfolio diversification, and access to larger deals are more important than selection and monitoring of deals. This holds for later stage and for early stage investors. Value adding is a stronger motive for syndication for early stage investors than for later stage investors, however. Nonlead investors join syndicates for the selection and value‐adding skills of the syndicate partners.
    • Venture capitalists' selection process: the case of biotechnology proposals

      Baeyens, Katleen; Vanacker, Tom; Manigart, Sophie; Baeyens, Katleen; Vanacker, Tom; Manigart, Sophie (2006)