Variable

Mean

Std. Dev.

Skewness

Kurtosis

Jarque-Bera test

Dependent variable

Venture capital fund

7.63

1.91

−2.41

10.48

329.93

Independent variable (venture capital instruments )

Convertible redeemable preference

5.84

0.21

0.75

1.64

16.83

Preferred equity and debt

9.56

2.39

−0.49

2.46

5.22

Preferred and common equity

6.34

1.59

−1.32

2.38

30.64

Debt

6.19

1.55

−1.63

2.53

45.20

Common equity

5.12

1.28

1.25

2.64

26.58

Perceived failure

7.52

1.88

−1.83

2.20

58.98

Preferred equity

2.22

0.26

1.18

2.04

27.05

Independent variable (control mechanisms)

Conversion control right

6.18

1.55

−1.97

2.61

65.32

Veto management decision

2.54

0.64

1.13

2.32

23.21

Performance options

6.45

1.61

−1.01

3.34

17.48

Preemptive control rights

4.57

1.14

−0.77

3.58

11.28

Put/Warranty options

5.47

1.37

−1.32

3.01

30.44

Right to demand liquidation of assets

2.84

0.71

−1.07

2.59

19.78

Right to exit the investment

6.78

1.70

−1.46

2.68

35.95