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IPOs, Trade Sales and Liquidations: Modelling Venture Capital Exits Using Survival Analysis
Giot, Pierre; Schwienbacher, Armin - EconWPA - 2003
Using a detailed sample made up of more than 20,000 investment rounds, we analyze the time to ‘IPO’, ‘trade sale’ and … firms have the fastest IPO exits. Internet firms are also the fastest to liquidate, while biotech firms are however the …-backed firms first exhibit an increased likelihood of exiting to an IPO. However, after having reached a plateau, investments that …
Persistent link: https://www.econbiz.de/10005134683
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INNOVATION AND VENTURE CAPITAL EXITS
SCHWIENBACHER, Armin - EconWPA - 2001
capitalist. The entrepreneur has incentives to distort the innovation strategy so as to make an IPO the preferred exit. We derive …
Persistent link: https://www.econbiz.de/10005413189
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Availability of Financing, Regulatory Business Costs and National Entrepreneurial Propensity
Ho, Yuen Ping; Wong, Poh Kam - EconWPA - 2005
In this paper, we focus on two barriers to entry that may hinder the formation of new firms: capital requirements and regulatory business cost. The contribution of this paper is twofold: we compare the availability of different types of financing sources to address the issue of capital...
Persistent link: https://www.econbiz.de/10005134472
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Crescita, Innovazione Tecnologica e Mercato dei Capitali: il Ruolo del Venture Capital
Arnone, Marco; Giacometti, Umberto - EconWPA - 2004
Questo paper considera il venture capital come forma di finanziamento che si realizza in quegli ambienti dove i fallimenti di mercato causati da problemi informativi sono tali da non rendere possibile l'affermazione di altre istituzioni finanziarie, e dove questa si affermi come unica forma di...
Persistent link: https://www.econbiz.de/10005134755
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Why Funds of Funds?
Lai, Richard Kum-yew - EconWPA - 2005
the cost of fund management. Third, FOFs allow large LPs to scale downward, to invest vast amounts over a short duration …
Persistent link: https://www.econbiz.de/10005134791
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Does Competition Kill Ties?
Lai, Richard Kum-yew - EconWPA - 2005
Venture capital firms (VCs) form syndicates that compete to invest in deals. Does more competition makes it less likely that VCs will choose syndicate partners based on past ties? Using over 200,000 observations on how VCs choose each other in 572 biotech deals in Massachussetts from 1967...
Persistent link: https://www.econbiz.de/10005118861
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What drives Venture Capital Syndication
Hopp, Christian; Rieder, Finn - EconWPA - 2004
This paper analyses the syndication behavior of VC organisations and the factors influencing their overall propensity to co-invest. We develop hypothesis concerning the investment behavior of Venture Capitalists in the German market and compare these hypothesis to the actual empirical evidence...
Persistent link: https://www.econbiz.de/10005561752
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Review of Automotive Assistance
Commission, Productivity - EconWPA - 2003
On 21 March 2002 the Treasurer referred the post-2005 assistance arrangements for the automotive manufacturing sector to the Commission for inquiry and report. The Commission identified three options for the reduction of tariffs, with the Government accepting the Commission’s preference for...
Persistent link: https://www.econbiz.de/10005077073
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An empirical analysis of endogenous growth without scale effect
Schettino, Francesco - EconWPA - 2005
The aim of this paper is to empirically examine the endogenous growth without scale effect as in Segestrom (1998). We firstly build a concordance table between the 1972 Standard Industrial Classification System (SIC) and USPCS (as of December, 31 2002) industrial codes using the USPTO...
Persistent link: https://www.econbiz.de/10005408256
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The Revealed Preferences of High Technology Acquirers: An Analysis of the Characteristics of their Targets
Dessyllas, Panayotis; Hughes, Alan - EconWPA - 2005
relatively larger stock of accumulated knowledge (stock of citation-weighted patents), relatively higher R&D inputs (R …
Persistent link: https://www.econbiz.de/10005412905