Venture Capital and the Finance of Innovation风险资本与革新财政
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作者： Andrew Metrick 著
出 版 社：
出版时间： 2006-9-1字数：版次： 1页数： 568印刷时间： 2006/09/01开本： 16开印次： 1纸张： 胶版纸I S B N ： 9780470074282包装： 精装内容简介
In Andrew Metrick’s Venture Capital and the Finance of Innovation, future and current venture capitalists will find a useful guide to the principles of finance and the financial models that underlie venture capital decisions. Assuming no knowledge beyond concepts covered in first-year MBA course, the book will familiarize you with:
The relationship between risk and return in venture capital
Historical statistics on the performance of venture capital investments
Total Valuation - the data and methods used to value a high-growth company
Partial Valuation – how to analyze the special features of VC transactions such as convertible preferred stock, participating preferred stock, payment-in-kind dividends, and liquidation preferences
A framework for modeling investment in "research and development"
The relationship between strategy and finance
Cutting-edge techniques such as Monte-Carlo analysis, real options, binomial trees, and game theory
作者简介
Andrew Metrick is an Associate Professor of Finance at the Wharton School of the University of Pennsylvania, where he teaches Venture Capital and the Finance of Innovation. Dr. Metrick received a BA in Economics and Mathematics from Yale and a Ph.D. in Economics from Harvard. Dr. Metrick has received numerous teaching awards and distinctions, including recognition by BusinessWeek as one of the best teachers at Wharton.
目录
PREFACE—A READER’S GUIDE
ACKNOWLEDGMENTS
CONTENTS
PART I: VC BASICS
CHAPTER 1: THE VC INDUSTRY
CHAPTER 2: VC PLAYERS
CHAPTER 3: VC RETURNS
CHAPTER 4: THE COST OF VENTURE CAPITAL
CHAPTER 5: THE BEST VCs
CHAPTER 6: VC AROUND THE WORLD
PART II: TOTAL VALUATION
CHAPTER 7: THE ANALYSIS OF VC INVESTMENTS
CHAPTER 8: TERM SHEETS
CHAPTER 9: PREFERRED STOCK
CHAPTER 10: THE VC METHOD
CHAPTER 11: DISCOUNTED-CASH-FLOW ANALYSIS OF GROWTH COMPANIES
CHAPTER 12: COMPARABLES ANALYSIS
PART III: PARTIAL VALUATION
CHAPTER 13: OPTION PRICING
CHAPTER 14: THE VALUATION OF PREFERRED STOCK
CHAPTER 15: LATER-ROUND INVESTMENTS
CHAPTER 16: PARTICIPATING CONVERTIBLE PREFERRED STOCK
CHAPTER 17: IMPLIED VALUATION
CHAPTER 18: COMPLEX STRUCTURES
PART IV: THE FINANCE OF INNOVATION
CHAPTER 19: R&D FINANCE
CHAPTER 20: MONTE CARLO SIMULATION
CHAPTER 21: REAL OPTIONS
CHAPTER 22 BINOMIAL TREES
CHAPTER 23 GAME THEORY
CHAPTER 24 R&D VALUATION
APPENDIX A INFORMATION SOURCES FOR VENTURE CAPITAL
APPENDIX B SAMPLE TERM SHEET
APPENDIX C THE VCFI SPREADSHEETS
APPENDIX D GUIDE TO CRYSTAL BALL
GLOSSARY
INDEX
