TY - JOUR T1 - Agency and Information Problems inVenture Capital Markets JF - The Journal of Private Equity SP - 93 LP - 112 DO - 10.3905/jpe.2007.682349 VL - 10 IS - 2 AU - Abeer E. Hassan AU - David Leece Y1 - 2007/02/28 UR - https://pm-research.com/content/10/2/93.abstract N2 - Venture capital firms face information deficits, asymmetric information and agency problems with respect to their proposed investee companies. This paper considers differences in the approaches and methods used by venture capital firms to overcome these market imperfections and value unquoted companies. The research looks for statistically significant differences in the valuation behaviour of different types of venture capital firms and assesses the relative importance and use of independent accounting information. The results suggest the overall importance of information deficits and agency problems and the extent to which they vary by organisational structure, funding and different stages of investment.TOPICS: Private equity, developed, portfolio construction, quantitative methods ER -