Exit Decision of Venture Capital Based on Linear Contract in Continuous Time: IPO or M&A
Based on the assumption that the long-term value of a venture capital satisfies the algebraic Brownian motion, we develop a continuous-time exit model of venture capital under different exit modes, namely, initial public offering (IPO) and mergers and acquisitions (M&A). The employee incentive p...
Main Authors: | , , |
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Format: | Article |
Language: | English |
Published: |
Hindawi-Wiley
2020-01-01
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Series: | Complexity |
Online Access: | http://dx.doi.org/10.1155/2020/8814790 |