Industry Effect on Venture Capital and Private Equity Backed Transactions
Purpose: The aim of this research is to contrast transaction multiples of mergers and acquisitions backed by private equity and venture capital investors against all other types of transactions. Design: The researcher conducted an independent samples t-test on 20-year historical data of mergers and acquisitions gathered through Capital IQ database. Findings: The researcher found that there is a statistically significant difference in transaction multiples of mergers and acquisitions backed by private equity and venture capital firms as compared to those mergers and acquisitions that were not backed by a private equity or venture capital firm. Originality and Value: The findings of this study will provide evidence to suggest that industry group may play an important role in the transaction multiples of deals backed by venture capital and private equity investors.
Laux, Purdue University.
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