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Venture capital, bank shareholding, and the certification of initial public offerings: evidence from the OTC market in Japan

Packer, Frank - Federal Reserve Bank of New York - 1994

Persistent link: https://www.econbiz.de/10005717181

Institutional affiliation and the role of venture capital: evidence from initial public offerings in Japan

Hamao, Yasushi; Packer, Frank; Ritter, Jay R. - Federal Reserve Bank of New York - 1998

The presence of venture capital in the ownership structure of U.S. firms going public has been associated with both improved long-term performance and lower underpricing at the time of the IPOs. In Japan, we find the long-run performance of venture capital-backed IPOs to be no better than that...

Persistent link: https://www.econbiz.de/10005526278

Vesting and control in venture capital contracts

Skeie, David R. - Federal Reserve Bank of New York - 2007

Vesting of equity payments to an entrepreneur, which is a form of time-contingent compensation, is very common in venture capital contracts. Empirical research suggests that vesting is used to help overcome asymmetric information and agency problems. We show in a theoretical model that vesting...

Persistent link: https://www.econbiz.de/10005420676

Doing well by doing good? Community development venture capital

Kovner, Anna; Lerner, Josh - Federal Reserve Bank of New York - 2012

substantial differences between CDVC and traditional venture capital (VC) investments: CDVC investments are far more likely to be … exited is lower. One benefit of CDVCs may be their effect in bringing traditional VC investment to underserved regions: When … we control for the presence of traditional VC investments, each additional CDVC investment results in an additional 0 …

Persistent link: https://www.econbiz.de/10010585872

Institutional affiliation and the role of venture capital: evidence from initial public offerings in Japan

Hamao, Yasushi; Packer, Frank; Ritter, Jay - Federal Reserve Bank of New York - 1998

Persistent link: https://www.econbiz.de/10005387287

Evaluating the riskiness of initial public offerings: 1980-2000

Peristiani, Stavros - Federal Reserve Bank of New York - 2003

In the wake of the dot.com collapse, investor sentiment toward initial public offerings (IPOs) has turned negative. To many investors, IPOs have come to symbolize the insider abuses and stock market excesses of the Internet bubble period; to others, investing in IPOs is inherently fraught with...

Persistent link: https://www.econbiz.de/10005726616