Picture of smart phone in human hand

World leading smartphone and mobile technology research at Strathclyde...

The Strathprints institutional repository is a digital archive of University of Strathclyde's Open Access research outputs. Strathprints provides access to thousands of Open Access research papers by University of Strathclyde researchers, including by Strathclyde researchers from the Department of Computer & Information Sciences involved in researching exciting new applications for mobile and smartphone technology. But the transformative application of mobile technologies is also the focus of research within disciplines as diverse as Electronic & Electrical Engineering, Marketing, Human Resource Management and Biomedical Enginering, among others.

Explore Strathclyde's Open Access research on smartphone technology now...

Venture capital investor behaviour in the backing of UK high technology firms : financial reporting and the level of investment

Reid, Gavin C. and Smith, Julia A. (2005) Venture capital investor behaviour in the backing of UK high technology firms : financial reporting and the level of investment. Discussion paper. Centre for Research into Industry, Enterprise, Finance and the Firm (CRIEFF), St Andrews, UK.

[img]
Preview
Text (strathprints002421)
strathprints002421.pdf - Accepted Author Manuscript

Download (389kB) | Preview

Abstract

This paper is an empirical investigation into the ways in which venture capitalists value (and invest in) high technology firms, focusing on financial reporting, risk disclosure and intangible assets. It is based on questionnaire returns from UK investors in diverse sectors, ranging from biotechnology, through software/ computer services, to communications and medical services. This evidence is used to examine: (a) the usefulness of financial accounts; (b) the implications of technopole investment; (c) the extent of investor control over the investee's AIS; and (d) the role of investor opinion (e.g. on disclosure, due diligence and risk reporting) in determining the level of equity provision.