Picture water droplets

Developing mathematical theories of the physical world: Open Access research on fluid dynamics from Strathclyde

Strathprints makes available Open Access scholarly outputs by Strathclyde's Department of Mathematics & Statistics, where continuum mechanics and industrial mathematics is a specialism. Such research seeks to understand fluid dynamics, among many other related areas such as liquid crystals and droplet evaporation.

The Department of Mathematics & Statistics also demonstrates expertise in population modelling & epidemiology, stochastic analysis, applied analysis and scientific computing. Access world leading mathematical and statistical Open Access research!

Explore all Strathclyde Open Access research...

Post investment demand for accounting information by venture capitalists

Mitchell, Falconer and Reid, Gavin and Terry, Nicholos (1995) Post investment demand for accounting information by venture capitalists. Accounting and Business Research, 25 (99). pp. 186-196. ISSN 0001-4788

Full text not available in this repository. Request a copy from the Strathclyde author


The key concepts of principal-agent analysis are utilized to investigate influences on venture capitalists' accounting information requirements as used in their dealings with investees. The findings are based on interviews held with 20 leading venture capitalists, managing funds which together comprise over 3/4 of all UK venture capital funds. The results confirm that a number of key concepts of principal-agent analysis are mirrored in the financial communication process between venture capital investors and their investees. They reveal the venture capitalists' appreciation of the dangers of moral hazard and information asymmetry. It is shown that as a consequence, their information demands are designed to provide safeguards through bonding arrangements. These establish and define an information flow that can be utilized as the basis for frequent and regular monitoring.