Percorrer por autor "Guns, Andy Dana B."
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- VC strategies : a comparative analysis of ESG scores, IPO valuations and venture capital fund typesPublication . Guns, Andy Dana B.; Shuwaikh, FátimaThe study of Environmental, Social, and Governance (ESG) factors within the frameworks of Independent Venture Capital (IVC) and Corporate Venture Capital (CVC) has gained increasing relevance in recent years due to the evolving priorities of investors and the transformative impact of venture capital. This thesis investigates the impact of ESG factors and financial performance metrics on the valuation processes within the venture capital ecosystem (VC) contributing to the current body of literature by also checking if those findings are replicated in the split up samples. This research reveals that while no statistically significant difference is found between the ESG scores of CVC and IVC-backed firms, the governance pillar score is statistically different for the two CV categories. Additionally, a multiple regression model also shows no significant relationship between the Post Offer Value (POV) and the overall ESG score; however, a positive and significant relationship was found between the Environmental Pillar and POV. Finally, further multiple regression models reveal that Total Assets, Net Income, ROA, and Time since IPO are statistically significant predictors of POV at the 0.01 significance level, with Total Assets being the strongest positive predictor. This study contributes to the current body of literature by providing real-world data and insights into how venture capital firms, integrate ESG criteria. While it validates some of the current findings, it challenges others overall by adding depth to our understanding of how ESG scores influence VC investment strategies.