Venture Capital and Firm Performance

• Author : Jaeho Lee
• Publisher : Routledge
• Release : 15 August 2017

This book provides an analysis of the impact on underpricing and long-term performance of venture capital in IPOs, and of the ownership characteristics of venture capital companies. It investigates the performance of IPOs in Korea during the dot-com bubble-and-bust period. The book looks at venture capital firms and their participation, their reputation, and conflicts of interests, particularly in the context of the development of a new secondary stock market in an emerging market and these factors affect the pricing and

• Author : Jaeho Lee
• Publisher : Routledge
• Release : 15 August 2017

This book provides an analysis of the impact on underpricing and long-term performance of venture capital in IPOs, and of the ownership characteristics of venture capital companies. It investigates the performance of IPOs in Korea during the dot-com bubble-and-bust period. The book looks at venture capital firms and their participation, their reputation, and conflicts of interests, particularly in the context of the development of a new secondary stock market in an emerging market and these factors affect the pricing and

• Author : Zhao Yuan Jun
• Publisher : Unknown
• Release : 07 July 2022

Venture capital (VC) has been playing an increasingly important role in the growth of early-stage companies around the globe. In addition to providing equity financing, venture capitalists also involve heavily in the management of investee companies and provide a number of value-added services. However, Gompers (1996) notes that VCs have strong incentives to grandstand by taking investee firms public prematurely in order to exit and realize investment returns early. Hence, the net impact of VC involvement on firm performance remains unclear.

• Author : Richard Charles Thompson
• Publisher : Unknown
• Release : 07 July 1993

• Author : Sean F. Everton
• Publisher : Unknown
• Release : 07 July 2022

• Author : Q. Ji
• Publisher : Unknown
• Release : 07 July 2022

• Author : Cornelius Matthias F. Mueller
• Publisher : Unknown
• Release : 07 July 2022

This study explores why some university spin-outs (USOs) are able to attract first venture capital (VC) investment. Furthermore, factors including first VC investment are associated with USO?s superior firm performance. The resource-based view (RBV) of the firm is replicated and extended with signalling theory. VC firms (supply-side seeking to reduce uncertainty and information asymmetry problems request positive?signals? from entrepreneurs and firms (demand-side). Entrepreneurs can provide such?signals of quality? relating to their own as well as their firms?

• Author : Xuejing Xing
• Publisher : Unknown
• Release : 07 July 2022

We investigate the role of labor unions in the performance of venture capital (VC)-backed firms. Using a large sample of initial public offering firms from 1983 to 2013, we find that VC-backed firms in highly unionized industries have lower Tobin's Q and are less likely to survive. This effect is robust to endogeneity concerns and to controlling for industry and firm characteristics. The findings suggest that strong labor rights impede innovative firms' performance and survival, thereby adversely affecting innovation, economic growth,

• Author : Linda Ann Cyr
• Publisher : Unknown
• Release : 07 July 1998

Analyses of data from a sample of 402 firms that went public in 1993 provide support for the hypothesis that venture capitalists positively influence the likelihood that the portfolio firm will offer equity incentives (i.e. incentive stock options and stock purchase plans) to all employees. Furthermore, consistent with the agency theory argument that monitoring and incentives can behave as complements to one another, venture capitalist involvement and equity incentives for all employees operate in concert to have a positive effect on

• Author : Douglas Cumming
• Publisher : John Wiley & Sons
• Release : 29 April 2010

An essential guide to venture capital Studies have shown that venture capital backed entrepreneurial firms are on average significantly more successful than non-venture capital backed entrepreneurial firms in terms of innovativeness, profitability, and share price performance upon going public. Understanding the various aspects of venture capital is something anyone in any industry should be familiar with. This reliable resource provides a comprehensive view of venture capital by describing the current state of research and best practices in this arena. Issues

• Author : Greg N. Gregoriou,Maher Kooli,Roman Kraeussl
• Publisher : Elsevier
• Release : 01 April 2011

Until recently, only the United States had an active venture capital market. This is changing rapidly, as many other countries have experienced rapid growth in venture capital financing over the past five years. This book contains new scientific articles showcasing the latest research on venture capital in Europe. Venture capital investment remains a hot topic with portfolio managers, individual investors, academics worldwide. This book examines in detail all the major issues regarding venture capital investment: contracting, financing, regulation, valuation, etc.

• Author : Georg Rindermann
• Publisher : Peter Lang Pub Incorporated
• Release : 07 July 2022

This thesis investigates whether venture capitalists in Europe have a positive impact on the operating and long-run market performance of firms they bring public. To examine this issue a hand-collected international data set of venture- and non venture-backed IPOs at the French Nouveau Marché, German Neuer Markt, and British techMARK dating from 1996 to 1999 is used. The findings suggest that there are substantial variations in the experience and sophistication of venture capitalists. Moreover, venture-backed IPOs do not generally outperform non venture-backed

• Author : Jennifer Maye Walske
• Publisher : Unknown
• Release : 07 July 2022

Abstract: The focus of this dissertation is on the nascent venture capital firm (VCF), asking which firm characteristics and environmental variables are associated with initial VCF success. While there has been considerable research assessing the structure of VCFs, the role, duties and compensation of venture capitalists (VCs), and how VCs make investment decisions, most research focuses on the behavior of long established VCFs. In contrast, there is a dearth of published research on nascent VCFs, even though the number of

• Author : Joseph Michael Harris
• Publisher : Unknown
• Release : 07 July 2022

• Author : Brandon E. Fleming
• Publisher : Unknown
• Release : 07 July 2022

The accounting system allows for flexibility in how earnings are presented, and this flexibility is susceptible to the incentives for managers and controlling stakeholders. Venture Capital (VC) firms have competing incentives when it comes to bringing portfolio firms public at an initial public offering (IPO), and the power that VC directors exert over the firm allows them to control policies set by the firm, including the disclosure of earnings. VC firm investors typically do not liquidate their holdings in portfolio