Risk Appraisal and Venture Capital in High Technology New Ventures
Routledge – 2007 – 220 pages
This book is a 'crossover' treatment of quantitative and qualitative risk analysis within the setting of new high technology ventures in the UK. Reid and Smith have based their research on extensive fieldwork in patent-intensive, high-technology firms. This has included face-to-face interviews with leading investors, and is illustrated by two chapters of case studies. Their aim is to advance the understanding of methods of risk assessment and to illuminate current policy concerns about stimulating innovative output and securing intellectual property.
This book is unique in being academic in intent and purpose, yet strongly grounded in practice, without becoming merely a practitioner volume. Reid and Smith find a considerable consensus in the venture capital industry on the spectrum of investments by risk, and on key commercial factors affecting risk. This book offers a useful and interdisciplinary approach to an increasingly popular field of study.
'A highly readable and informative book…which is unlikely to be surpassed for some considerable time. A very wide range of readers could undoubtedly gain new perspectives and insights from reading this text.' - British Accounting Review
'[The book] adds much needed depth in our understanding of a complex topic. This is a high quality volume that should be an essential library purchase and recommended reading, not only for scholars and advanced graduate students, but also a highly valuable book for all stakeholders involved in high-tech industry venture capital.' - International Small Business Journal
Part 1: Conceptual Framework 1. Background 2. Risk and Uncertainty Part 2: Sampling and Evidence 3. Sampling, Fieldwork and Instrumentation 4. Investor and Investee Appraisal of Risk Part 3: Statistical Analysis 5. Investor-Investee Statistical Analysis 6. Risk Appraisal by Investors: Statistical Analysis Part 4: Case Study Analysis 7. Case Study Analysis of Risk Appraisal by Entrepreneurs 8. Further Illustrative Case Studies Part 5: Reporting and Investment 9. Financial Reporting, Risk Disclosure and Intangible Assets 10. Behavioural Variables and Investment Fund Allocation Part 6: Concluding Material 11. Conclusion