Classification and Analysis of Criteria Used in the Due Diligence Process
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URI: http://hdl.handle.net/10317/5134Share
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Departamento de economía financiera y contabilidadSponsors
Fundación Séneca (Project 15403/PHCS/10) and by Ministerio de Ciencia e Innovación (Project ECO2011-29080)Publication date
2012Publisher
International Journal of Business and ManagementBibliographic Citation
Ramón-Llorens, M. C., & Hernández-Cánovas, G. (2012). Classification and Analysis of Criteria Used in the Due Diligence Process. Canadian Center of Science and Education.Peer review
SíKeywords
Toma de decisionesDecision making
Econometría
Econometrics
Abstract
This paper uses a survey dataset of 51 Venture Capital Companies to address a segmentation of the venture
capital industry. Our paper yields two specific contributions. First, we analyze in a Continental European
bank-based system the most important investment criteria identified by previous empirical literature. Second, we
show that existing differences in the use of the investment criteria depend on the existence of asymmetric
information problems associated to specific characteristics of the venture capital companies. Knowing what
investment criteria are the most important for venture capitalists might help both entrepreneurs to elaborate
better proposals, and venture capitalists to improve their decision process and achieve better survival rates.
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