This study examines the governance attributes of post-IPO (initial public offering) retained ownership of private equity in business group constituent firms in contrast to their unaffiliated counterparts, in 202 newly listed firms in 22 emerging African economies. We adopt an actor centred...

We investigate the corporate governance of venture capital (VC) backed IPO firms that enter into strategic alliances. Startups often have alliances with outside strategic partners and with parents of corporate VCs (CVCs), who primarily invest in startups for strategic reasons. Both CVCs and...

The performance of Indian initial public offerings (IPO) is influenced by the ownership structure of a firm. As many firms raise the capital in the form of private equity (PE), this work highlights the impact of governance structure of private equity firms, the decision of exit through IPO route...

Information-based theories of financial intermediation focus on delegated monitoring. However, there is little evidence on how markets discipline intermediaries who fail at this function. We exploit the direct link between corporate fraud and monitoring failure and examine how a venture capital...

This Article examines a third exit option in venture capital to supplement IPOs and trade sales: secondary markets for the sale of individual ownership interests in start-ups and venture capital (VC) funds. While investors can readily buy shares in publicly-traded companies, until recently they...

We analyze the role of venture capitalists (VCs) in transforming the management and governance of China's private family firms pre-IPO. We show, causally, that VC-backed family firms are more likely than non-VC backed family firms to experience departures of family members from top management...

We investigate the corporate governance of venture capital (VC) backed IPOs that enter into strategic alliances. Startups can have alliances with outside strategic partners and with parents of corporate VCs (CVCs), who primarily invest in startups for strategic reasons. Both CVCs and outside...

Using a sample of 863 offerings on the ChiNext Market in China from 2009 through 2020, we explore the roles of the board of directors as well as the moderating effects played by venture capitalists on IPO underpricing. We find that board reputation and board members’ experiences could lower...