Narrow search
Showing 1 - 10 of 71
Cover Image
Do differences in institutional and legal environments explain cross-country variations in IPO underpricing?
Hopp, Christian (contributor); Dreher, Axel (contributor) - 2007
Persistent link: https://www.econbiz.de/10003598649
Cover Image
All in the family or public? : law and appropriative costs as determinants of ownership structure
Castillo C., Ramón; Skaperdas, Stergios - 2003
We examine how the legal protection of outside shareholders and the appropriative costs that they induce influence the incentives for private firms to go public. A higher degree of protection of shareholders can increase the appropriative costs associated with the conflict between managers and...
Persistent link: https://www.econbiz.de/10011507775
Cover Image
Financing entrepreneurial firms in Europe : facts, issues, and research agenda
Bottazzi, Laura; Da Rin, Marco - 2003
During the latter part of the 1990s the introduction of the euro, the dramatic increase in the supply of venture capital in most EU countries, and the creation of several new equity markets targeted at innovative firms have dramatically transformed the financing prospects of European...
Persistent link: https://www.econbiz.de/10011507965
Cover Image
Bait and Switch : how do Chinese firms use proceeds from seasoned equity offerings
Bo, Hong; Huang, Zhongnan; Sterken, Elmer - 2015
We reveal motivations of Chinese firms for issuing Seasoned Equity Offerings (SEO) by examining why firms change the use of SEO proceeds and how they use unspecified SEO proceeds. Using 533 SEOs issued by Chinese firms during 1999 - 2006, we find that firms do not use unspecified SEO proceeds on...
Persistent link: https://www.econbiz.de/10010477889
Cover Image
Convertible securities and venture capital finance
Schmidt, Klaus M. - 1999
This paper offers a new explanation for the prevalent use of convertible securities in venture capital finance. Convertible securities can be used to endogenously allocate cash flow rights as a function of the realized quality of the project. This property can be used to mitigate the double...
Persistent link: https://www.econbiz.de/10009781712
Cover Image
Synergizing ventures
Akcigit, Ufuk; Dinlersoz, Emin Murat; Greenwood, Jeremy; … - 2019
Venture capital (VC) and growth are examined both empirically and theoretically. Empirically, VC-backed startups have higher early growth rates and initial patent quality than non-VC-backed ones. VC-backing increases a startup's likelihood of reaching the right tails of the firm size and...
Persistent link: https://www.econbiz.de/10012104061
Cover Image
Initial coin offerings, information disclosure, and fraud
Hornuf, Lars; Kück, Theresa; Schwienbacher, Armin - 2019 - This Version: November 19, 2019
We study the extent of fraud in initial coin offerings (ICOs), and whether information disclosure prior to the issuance predicts fraud. We document different types of fraud, and that fraudulent ICOs are on average much larger than the sample average. Issuers that disclose their code on GitHub...
Persistent link: https://www.econbiz.de/10012129781
Cover Image
Privatization in Italy 1993-2002 : goals, institutions, outcomes, and outstanding issues
Goldstein, Andrea - 2003
This paper describes the privatization program in Italy during the 1990s and puts that policy in the context of … attempts at privatization of the 1980s, delaying until 1992 the start of largescale privatizations. These were imposed on … analysis of the consequences of privatization on corporate governance show that, notwithstanding considerable changes in the …
Persistent link: https://www.econbiz.de/10011507688
Cover Image
Voter support for privatizing education : evidence on self-interest and ideology
Merzyn, Wolfram; Ursprung, Heinrich W. - 2003
Economic theory advances various arguments in favor of and against privatizing education. In this paper we investigate the extent to which these arguments influence voters opinions. We analyze two popular referenda in which some 400,000 voters in two Swiss cantons expressed their opinions on the...
Persistent link: https://www.econbiz.de/10011508114
Cover Image
External constraints matter for privatizations
Petrarca, Ilaria; Ricciuti, Roberto - 2014
We present an analysis of the share of public ownership in the product market in the OECD countries from 1974 to 2007. Despite much has been said on the broad topic of reforms and regulation, a sector-specific insight is missing. We replicate the analysis of Galasso (2014) by sector of activity...
Persistent link: https://www.econbiz.de/10010426052