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 |