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A Note on Firms' Strategic Behaviour During an IPO

Weiss, Pia - EconWPA - 2002

by an IPO and operating under less favourable business conditions have a strong incentive to appear more successful. …

Persistent link: https://www.econbiz.de/10005077052

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

DO MARKET LISTING AND SIZE ENTAIL BEHAVIOURAL DIFFERENCES?

BELLETANTE, Bernard; PARANQUE, Bernard - EconWPA - 2000

It is possible to study companies according to their methods of gaining access to finance, and in particular the stock market. Two approaches are possible. The first looks at the organisation of such access through the relationships built up by the company with suppliers of capital, enabling the...

Persistent link: https://www.econbiz.de/10005134889

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

Prices and the Winner's Curse

Bulow, Jeremy; Klemperer, Paul - EconWPA - 1999

We usually assume increases in supply, allocation by rationing, and exclusion of potential buyers will never raise prices. But all of these activities raise the expected price in an important set of cases when common-value assets are sold. Furthermore, when we make the assumptions needed to rule...

Persistent link: https://www.econbiz.de/10005118642

Private hospitals in Australia

Commission, Productivity - EconWPA - 2001

Amongst other things, this report: . provides a statistical overview of the structure of the industry and the activities of the 500 acute care, psychiatric and day hospitals that operate within it; . looks at some indicators of the industry’s financial performance, efficiency and quality of...

Persistent link: https://www.econbiz.de/10005134599

To what extent are investment bank-differentiating factors relevant for firms floating moderate-sized IPOs?

Kulkarni, Kedar S.; Sabarwal, Tarun - EconWPA - 2004

One explanation provided for the relatively high and increasingly stable spreads for moderate-sized IPOs ($20-$80 million) documented in Chen and Ritter (2000) is that issuing firms focus less on price and more on a combination of investment bank-differentiating factors (such as underwriter...

Persistent link: https://www.econbiz.de/10005561648

Firm Performance and Compensation Structure: Performance Elasticities of Average Employee Compensation

Rayton, Bruce A. - EconWPA - 1996

Agency costs are a cost of production, and firms that do a better job of minimizing these costs should exhibit better performance. This paper tests this hypothesis by calculating the performance elasticity of average employee hourly compensation for U.S. manufacturing firms. This elasticity...

Persistent link: https://www.econbiz.de/10005076551

How Ownership Structure Affects Capital Structure and Firm Performance? Recent Evidence from East Asia

Driffield, Nigel; Mahambare, Vidya; Pal, Sarmistha - EconWPA - 2005

Despite the seminal work of Claessens et al. (2002), who highlighted the role of ownership structure on firm performance in East Asia, the relationship between capital structure and ownership remains much unexplored. This is important, given recent empirical and theoretical work linking capital...

Persistent link: https://www.econbiz.de/10005076974

How Ownership Structure Affects Capital Structure and Firm Performance? Recent Evidence from East Asia

Driffield, Nigel; Mahambare, Vidya; Pal, Sarmistha - EconWPA - 2005

Despite the seminal work of Claessens et al. (2002), role of ownership structure on capital structure and firm performance in East Asian corporattions remains much unexplored. Within the framework of Bajaj et al. (1998), the present paper empirically examines the effects of a controlling manager...

Persistent link: https://www.econbiz.de/10005076997