Benjamin LE PENDEVEN

Associate Professor

  • Entrepreneurship, Strategy and Innovation Department

Chair Holder - Finance for Innovation

Research Domains

Innovation and Entrepreneurship
Entrepreneurial FInance
Social FInance / Impact Investing
Venture Capital

Curriculum vitae

Doctorate, Business administration, Entrepreneurship
Conservatoire National des Arts et Métiers (CNAM), France (2018)

Master of Science in Innovation and Technological Management
Université de Paris IX - Dauphine, France (2013)

Master of Science in Finance
IAE Gustave Eiffel, Université Paris XII, France (2012)

Bachelor in Entrepreneurship
Advancia Business School, France (2011)

Publications

Forthcoming

BERRE, M., LE PENDEVEN, B. (2022) . What do we know about startup-valuation drivers? A systematic literature review, Venture Capital: An International Journal of Entrepreneurial Finance

2023

LE PENDEVEN, B., SCHWIENBACHER, A. (2023) . Equity Crowdfunding: The Influence of Perceived Innovativeness on Campaign Success, British Journal of Management, 34 (1), 280-298

2022

LE PENDEVEN, B., BARDON, T., MANIGART, S. (2022) . Explaining academic interest in crowdfunding as a research topic, British Journal of Management, 33 (Special Issue in Honor of Mike Wright) (1), 9-25

2021

ANDRIEU, G., LE PENDEVEN, B., LEBOEUF, G. (2021) . Equity Crowdfunding Success for Female Entrepreneurs: French Evidence, Economics Bulletin, 14 (2), 417-431

GAREL, A., LE PENDEVEN, B. (2021) . Calendar effects and crowdfunded projects, Economics Bulletin, 41 (3), 1407-1417

2020

FENDT, J., MILOSEVIC, M., LE PENDEVEN, B. (2020) . Follow-on financing through syndication in the VC industry – a signaling perspective of VC human capital and fund characteristics, Venture Capital: An International Journal of Entrepreneurial Finance, 22 (1), 35-69

2019

LE PENDEVEN, B. (2019) . Social Impact Bonds: A New Public Management Perspective, Finance Contrôle Stratégie, Special Issue n°5

LE PENDEVEN, B. (2019) . Financements innovants de l’innovation, Finance Contrôle Stratégie, Special Issue n°5

2015

LE PENDEVEN, B., MARIAGE, G. (2015) . Non-banking : une alternative au financement bancaire pour les entrepreneurs, Entreprendre et Innover, 2 (25), 8-20

2013

LE PENDEVEN, B., FOURNY, T. (2013) . Au-delà de la diversité, l’atypisme - enquête sur les managers atypiques, Humanisme et Entreprise, 5 (315), 77-107

LE PENDEVEN, B. (2013) . Capital-investissement et entrepreneurs de la diversité : retour sur le cas Citizen Capital, Entreprendre et Innover, 1 (20), 39-49

LE PENDEVEN, B. (2013) . Capital-investissement et entreprises de service : questionnements et déterminants des levées de fonds, Revue du Financier, 35 (202), 41-60

LE PENDEVEN, B. (2013) . Le capital-investissement à vocation sociale existe-il en France ?, Entreprendre et Innover, 1 (17), 44-56

TIRA, M., LE PENDEVEN, B., LOUCHE, C. (2022). Environmental Impact Bonds: an innovative public-private approach to tackle climate challenges. Handbook of Environmental and Green Finance: Towards a Sustainable Future. World Scientific Publishing.

BUFFA, V., LE PENDEVEN, B. Social Impact Bonds : an Innovative Financial Mechanism for Sustainable Goals. In Recent Trends in Financial Engineering Towards More Sustainable Social Impact (Ed.). World Scientific.

ZHOU, J., LE PENDEVEN, B., GIRARD-GUERRAUD, C. (2022). The Role of Venture Capitalists in Deep-Tech Startups. FINENT Conference.

LE PENDEVEN, B., MOREL, C., LEBOEUF, G. (2022). Does the digitalization of entrepreneurial finance democratize entrepreneurship?. AFFI Conference.

ZHOU, J., GIRARD-GUERRAUD, C., LE PENDEVEN, B. (2022). The role of venture capitalists in deeptech startups. ENTFIN Conference, Bath.

BUFFA, V., PERIAC, E., LE PENDEVEN, B. (2022). Towards a Metagovernance of hybrid governance? Studying the Metagovernance of an hybrid arrangement over time: the case of Social Impact Bonds. 38th EGOS Conference.

BUFFA, V., PERIAC, E., LE PENDEVEN, B. (2022). From Spontaneous Hybrid Governance to Meta-Organized Hybrid Governance: The Case of Social Impact Bonds in France. IRSPM Conference.

BERRE, M., LE PENDEVEN, B. (2022). Valuation, business cycles and cash: Startups in the macroeconomic environment. ENTFIN Conference, Bath.

BERRE, M., LE PENDEVEN, B. (2021). Investor-firm Relationships in the Macro environment Valuation, Cyclical Growth, and Institutional Factors. 5th ENTFIN Conference.

CHAMPENOIS, C., DEVIGNE, M., PUYOU, F. -R., LE PENDEVEN, B. (2021). Making conflicts cooperative in VC-entrepreneur relationships: voicing out and escalating dissent. 5th ENTFIN Conference.

LE PENDEVEN, B., MOREL, C., LEBOEUF, G. (2021). Does the digitalization of entrepreneurial finance democratize entrepreneurship?. 5th ENTFIN Conference.

LE PENDEVEN, B., BARDON, T., MANIGART, S. (2020). Explaining the craze for crowdfunding as an academic research topic. British Journal of Management Colloquium – Special Issue PDW in honor of Mike Wright.

BUFFA, V., LE PENDEVEN, B. (2020). What do we know about the Social Impact Bonds: A Systematic literature Review. EURAM Conference.

BERRE, M., LE PENDEVEN, B. (2020). A systematic review of the literature on start-up valuation drivers. EURAM Conference.

LE PENDEVEN, B., BERRE, M., WIRTZ, P. (2019). A targeted review of literature on start-up valuation driving factors. EU-SPRI Early Career Researcher Conference.

LE PENDEVEN, B., BARDON, T., MANIGART, S. (2019). Academic Fashion and Crowdfunding: How to Explain the Craze for Crowdfunding as a Research Topic. 4th ENTFIN Conference.

LE PENDEVEN, B., & SCHWIENBACHER, A. (2018). Equity Crowdfunding & Innovation., Workshop A Multidisciplinary Perspective into Entrepreneurship: Research at the Cross Borders of Finance, Psychology and Entrepreneurship.

LE PENDEVEN, B. (2018). Social Impact Bonds: A New Public Management Perspective., CR3+ Conference, Audencia Business School, Nantes, France.

LE PENDEVEN, B., & SCHWIENBACHER, A. (2018). Equity Crowdfunding & Innovation., Workshop A Multidisciplinary Perspective into Entrepreneurship: Research at the Cross Borders of Finance, Psychology and Entrepreneurship.

LE PENDEVEN, B., & SCHWIENBACHER, A. (2018). Equity Crowdfunding & Innovation., 3rd Abbé Grégoire Innovation Days.

LE PENDEVEN, B., & SCHWIENBACHER, A. (2018). Equity Crowdfunding & Innovation., 2nd Emerging Trends in Entrepreneurial Finance Conference.

LE PENDEVEN, B. (2018). From Corporate Venture Capital to Multi Corporate Venture Capital: An Exploratory Study., 3rd ENTFIN Conference.

LE PENDEVEN, B. (2017). From Corporate Venture Capital to Multi Corporate Venture Capital., GT « Innovation » de l’AIMS.

LE PENDEVEN, B., GIRARD-GUERRAUD, C. (2022). Financement des spin-offs et des start-ups deeptechs : une meilleure compréhension du phénomène au service du développement de ces entreprises, Rapport Audencia/Région Pays-de-la-Loire, Nantes.

LE PENDEVEN, B., & MAGNIER, C. (2017). Les sorties du capital-innovation en France.

LE PENDEVEN, B., NICO, Y., & GACHET, B. (2015). Social Impact Bonds, un nouvel outil pour le financement de l’innovation sociale, Etude Institut de l'Entreprise.

LE PENDEVEN, B., & ABDESSLAM, M. (2015). Les nouveaux modes de financement des PME, study for Fondation pour l’Innovation Politique.

Articles

LE PENDEVEN, B., LEANDRI, N. (2021). Et la France inventa les contrats à impact écologique…. Le Courrier Financier, https://www.lecourrierfinancier.fr/responsabilite-sociale/opinion/exclusif-et-la-france-inventa-les-contrats-a-impact-ecologique-66763.

BUFFA, V., LE PENDEVEN, B. (2021). Projet pilote et passage à l’échelle dans le cas de Development Impact Bonds en Inde et rôle d’un payeur final philanthropique. Fonds B. Papers, https://www.fondsb.org/fr/publications/7-article-5-projet-pilote-et-passage-a-lechelle-dans-le-cas-de-development-impact-bonds-en-inde-et-role-dun-payeur-final-philanthropique.

LE PENDEVEN, B. (2020). Crise : vers un paysage contrasté des valorisations de start-up. Les Echos, https://business.lesechos.fr/entrepreneurs/financer-sa-creation/0603437986489-crise-vers-un-paysage-contraste-des-valorisations-de-start-up-338668.php.

LE PENDEVEN, B. (2020). Why COVID-19 is not all bad news for start-up valuations. Growth Business, https://www.growthbusiness.co.uk/why-covid-19-is-not-all-bad-news-for-start-up-valuations-2557683/.

LE PENDEVEN, B., BUFFA, V. (2019). Entre espoir et prudence : revue de littérature sur les contrats à impact social. Fonds B. Papers, https://www.fondsb.org/fr/publications/3-article-1-entre-espoir-et-prudence-revue-de-litterature-sur-les-contrats-a-impact-social.

BUFFA, V., LE PENDEVEN, B. (2019). Le rôle des capitaux privés dans les mécanismes de paiement au résultat. Fonds B. Papers, https://www.fondsb.org/fr/publications/4-article-2-le-role-des-capitaux-prives-dans-les-mecanismes-de-paiement-au-resultat.

BUFFA, V., LE PENDEVEN, B. (2019). Contrats à Impact Social : succès ou feu de paille ?. Fonds B. Papers, https://www.fondsb.org/fr/publications/5-article-3-contrats-a-impact-social-succes-ou-feu-de-paille-a.

BUFFA, V., LE PENDEVEN, B. (2019). Development Impact Bonds - L’application du paiement au résultat dans le domaine du développement et de l’aide humanitaire. Fonds B. Papers, https://www.fondsb.org/fr/publications/6-article-4-development-impact-bonds-lapplication-du-paiement-au-resultat-dans-le-domaine-du-developpement-et-de-laide-humanitaire.

Professional Conferences

LE PENDEVEN, B. (2021). Conférence Early Metrics/CDC: Facteurs macroéconomiques et valorisation des start-ups.

LE PENDEVEN, B. (2020). Contrats à impact social #3 – La relance des contrats à impact en France : contexte, objectifs et cas. official conference of le Fonds B. online (due to Civd-19).

LE PENDEVEN, B. (2019). Contrats à impact social #2 – DIB et SIB étrangers, quelles conclusions pour la France ?.

LE PENDEVEN, B. (2019). Labo Fintech & Financement - La Fintech au service des entreprises de l’Ouest. NAPF.

LE PENDEVEN, B. (2019). Contrats à impact social #1 – Retour d’expérience & perspectives. Conférences Fonds b..

LE PENDEVEN, B. (2017). Innovative financing tools for SMEs and innovations.

LE PENDEVEN, B. (2017). Pratiques en matière de liquidité et du financement de la croissance des jeunes entreprises à fort potentiel de croissance., Annual Meeting France Angels.

LE PENDEVEN, B. (2017). Social Impact Bonds Les contrats à impact social : enjeux, implications, et perspectives de développement en France.

Scientific activities

Reviewer for an academic journal

Small Business Economics Since 2022

Journal of Small Business Management (2022) Since 2022

Venture Capital: An International Journal of Entrepreneurial Finance (2021) Since 2021

Entrepreneurship & Regional Development (2021) Since 2021

Entrepreneurship Theory and Practice (2018) Since 2021

Qualitative Research in Financial Markets (2020) Since 2020

Management International (2020) Since 2020

Journal of Financial Management, Markets and Institutions (2020) Since 2020

Finance Research Letters (2019) Since 2019

Journal of Business Ethics (2019) Since 2019

Finance Contrôle Stratégie (2018) Since 2018

Revue Internationale PME (2018) Since 2018

Revue Française de Gestion (2018) Since 2018

Revue de l'Entrepreneuriat Since 2016

Entreprendre & Innover (2016) Since 2016

International Journal of Entrepreneurship and Small Business (2016) Since 2016

Associate Editor of an academic journal

Venture Capital: An International Journal of Entrepreneurial Finance (2021) Since 2021

Guest Editor of an academic journal

Venture Capital Since 2022

Finance Contrôle Stratégie (2019) , 2019 - 2019

La Revue de l’Entrepreneuriat (2016)

Entreprendre & Innover (2016)

Member of the scientific board of an academic association

Membre du Comité Scientifique de la conférence du GT Innovation de l'AIMS (2018)

Paris Innovative Finance and FinTech Workshop (2017)

Member of the board of directors of an academic association

Académie de l’Entrepreneuriat et de l’Innovation (2020) , 2016 - 2021

Awards and Honors

  • Research Grant - Région pays-de-la-Loire for investing the question of the deeptech startups funding , 2021
  • Finalist - Best PhD thesis Award - Académie de l'Entrepreneuriat et de l'innovation 2018 , 2019
  • Best Paper Award 3rd Entrepreneurial Finance Conference, Milano, Italy , 2018

Doctoral supervision

Thesis co-director

Maxens Berre : Valuation of Start-ups
Audencia Business School, France

Vincenzo Buffa : Social Impact Bonds
, France

M. TIRA : Environmental Impact Bonds
,

J. GONZALEZ : Impact Investing: 3 Essays
,

Thesis Jury Member

- 2021, R. BIANCHINI : Climate Change and Financial Markets
, Italy