By: Max Bleyleben
Interesting research. But I think it’s important not to draw too many conclusions from a dataset that is restricted to 2003 and 2004 exits. Those were brutal years in which many, if not most, VC-backed...
View ArticleBy: Jesse Fried
It is important to emphasize that our paper is not looking at carveouts to the management team when firms are sold, but rather at carveouts to common shareholders as a class. We start with the total...
View ArticleBy: Knox Massey
I agree with Max. Professors and grad students might be hard pressed to find agreements from the BOD on management carve-outs. I can cite a few examples locally where the liq prefs were not satisfied...
View ArticleBy: Brian Broughman
Thanks for both of your comments. As academics we rely on and greatly appreciate advice from the people actually doing VC deals. I agree with the concern that 2003 and 2004 may have unusual years for...
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