The systematic risk of IPO’s in the thinly traded Istanbul Stock Exchange (ISE) are estimated using Empirical Bayes Estimators (EBE). The sectors that the firms belong to, provide the priors. Comparisons are made with OLS estimators across different estimation and forecasting periods. Two...

The financial world has discovered the advantages of the Internet immediately. Financial services lend themselves perfectly to electronic media since they do not involve the movement of physical things to achieve clearance and settlement . The need for fast and up to date information has pushed...

Long run returns of IPO firms’ recommendations in Europe reveal possible conflicts of interest and pressures faced by financial analysts over the 1991-2005 period. Nevertheless, recent European legislations about investment research have led to better long run performance of IPO firms’...

We study characteristics of Specified Purpose Acquisition Companies (SPACs) and examine the performance of their securities over time. We find that SPACs represent a fairly unique way to raise capital. The incentives of their founders, underwriters, and investors are interdependent and...

This paper analyses the role of venture capitalists in Italian Initial Public Offerings (IPOs). Between 1999 and 2012 venture capital backed IPOs are on average less underpriced than non-venture backed IPOs. By using both a matching and a regression-based approach to account for the non-random...

This survey article summarizes the findings of four research projects on the venture capital industry in Europe and the role played by legal institutions and the legal framework. A study on patent litigation insurance argues that insurance can create a level playing field for small innovators,...

This paper investigates the manner in which private equity and venture capital firms in South Africa assess investment opportunities. The analysis was facilitated using a survey containing both Likert-scale and open-ended questions. The key findings show that both private equity and venture...

The dilemmas that may encounter entrepreneurship result of an expected conflict between VCs and entrepreneur, disagreement can be beneficial for the venture performance. While the conflicts classified as personal disagreement, which negatively associated with entrepreneur’s performance. In...

The objective of this paper is to examine and analyze the differences between Venture Capital development in Macedonia and several Central and Eastern Europe countries, to determine the reasons, and hence extract certain conclusions that will serve as a guideline in Macedonia’s venture capital...

In this paper we try to present the role of one of the Venture Capital financing solutions - the Spin – off organizations, which are a very interesting way of acquiring the financial means for the new established innovative companies – clients of the Science and Technology Parks.