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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 Strathclyde researchers, including by researchers from the Physical Activity for Health Group based within the School of Psychological Sciences & Health. Research here seeks to better understand how and why physical activity improves health, gain a better understanding of the amount, intensity, and type of physical activity needed for health benefits, and evaluate the effect of interventions to promote physical activity.

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Investment strategy

Reid, Gavin C. and Smith, Julia A. (2006) Investment strategy. Financial Management, February. pp. 27-28. ISSN 1471-9185

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Abstract

This article reveals new evidence on how venture capitalists evaluate high-tech enterprises. Questionnaires were sent to the UK's most active investors in the high-tech industry, focusing on their use of financial statements, risk reporting and information on internally developed intangible assets. Investors were asked to rate how useful they thought the standard financial accounts they received from potential high-tech investees were. By far the most common response was that standard financial accounts were fairly useless for gauging the value of possible projects. It seems that investors do not see compulsory reporting as a solution to information asymmetry. When asked which particular types of internally developed intangibles they would need valuation information on from the investees, all investors agreed that financial reports provided inadequate information about patents, copyrights and brands, and that they would ask specifically for this data.