PT - JOURNAL ARTICLE AU - Abeer E. Hassan AU - David Leece TI - Agency and Information Problems inVenture Capital Markets AID - 10.3905/jpe.2007.682349 DP - 2007 Feb 28 TA - The Journal of Private Equity PG - 93--112 VI - 10 IP - 2 4099 - https://pm-research.com/content/10/2/93.short 4100 - https://pm-research.com/content/10/2/93.full AB - 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