THE IMPACT OF THE INTEREST RATE ON THE LEVEL OF ACQUIRED CAPITAL AND INVESTMENTS BY VENTURE CAPITAL FUNDS AND PRIVATE EQUITY FUNDS ON THE POLISH MARKET

  • Piotr Zasępa Polonia University in Czestochowa
DOI: https://doi.org/10.23856/1101

Abstract

Venture capital funds and private equity funds are classified in the fi- nancial market as an alternative investment. The cycle of high-risk investment funds consists of three main successive phases. The first one is to raise funds from investors and then invest them actively. The level of invested funds col- lected and is influenced by many factors, among which the most important seems to be the degree of development of the capital market, the historical rate of return of funds and the market rate. The aim of the article is to analyze the influence of changes in the reference interest rate in the period 1998-2013 on the Polish market to the level obtained and invested funds through venture capital funds and private equity funds.

References

National Central Bank Data. European Venture Capital Assosiation Yearbooks 1999-2013.

Gladstone D., Venture Capital Handbook, Prentice Hall, 2002.

Gompers P. A., Lerner J., What drives venture capital fundrising, Working paper 9609, National bureau of economic research, January 1999.

Phalippou L., Zollo M., What drives PE fund performance?, November 2005


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Published
2014-10-10
How to Cite
Zasępa, P. (2014). THE IMPACT OF THE INTEREST RATE ON THE LEVEL OF ACQUIRED CAPITAL AND INVESTMENTS BY VENTURE CAPITAL FUNDS AND PRIVATE EQUITY FUNDS ON THE POLISH MARKET. Scientific Journal of Polonia University, 11(4), 11-21. https://doi.org/10.23856/1101
Issue
Vol 11 No 4 (2014): Scientific Journal of Polonia University
Section
Articles