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Badge of honor or scarlet letter? : unpacking investors' judgment of entrepreneurs' past failure
Zunino, Diego; Praag, Mirjam van; Dushnitsky, Gary - 2017
crowdfunding. Respondents evaluate a realistic investment opportunity in a between-subjects design, where we decompose the effect …
Persistent link: https://www.econbiz.de/10011720322
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The impact of venture capital on economic growth
Poelhekke, Steven; Wache, Benjamin - 2023
Does venture capital (VC) investment yield economic growth? A large literature studies the effect of VC investments on … firm-level activity, but its effects on economic growth are less well understood. We identify the effect of VC investment … 'social connectedness' of counties to major sources of VC investment. Using detailed data on VC flows from investors to …
Persistent link: https://www.econbiz.de/10014335551
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Market liquidity, investor participation and managerial autonomy : why do firms go private?
Boot, Arnoud W. A.; Gopaian, Radhakrishnan; Thakor, Anjan V. - 2005
We analyze a publicly-traded firm's decision to stay public or go private when managerial autonomy from shareholder intervention affects the supply of productive inputs by management. We show that both the advantage and the disadvantage of public ownership relative to private ownership lie in...
Persistent link: https://www.econbiz.de/10011348720
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Private equity waves
Smit, Han T. J.; Berg, Ward A. van den - 2006
rationally explain the cyclical pattern of investment flows into private equity. The net benefit of private equity over public … equity is i) uncertain and ii) agents have private information about the benefits of their investment. When these … distinguishing characteristics determine investment behavior in private equity markets, rational investment waves may arise …
Persistent link: https://www.econbiz.de/10011349200
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Giants at the gate : on the cross-section of private equity investment returns
López-de-Silanes, Florencio; Phalippou, Ludovic; … - 2010
over forty years. The median investment IRR (PME) is 21% (1.3), gross offees. One in ten investments goes bankrupt, whereas …
Persistent link: https://www.econbiz.de/10011383185
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Strategic versus financial investors
Arping, Stefan; Falconieri, Sonia - 2009
Persistent link: https://www.econbiz.de/10003850897
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Strategic versus financial investors : the role of strategic objectives in financial contracting
Arping, Stefan; Falconieri, Sonia - 2009
Strategic investors, such as corporate venture capitalists, engage in the financing of start-up firms to complement their core businesses and to facilitate the internalization of externalities. We argue that while strategic objectives make it more worthwhile for an investor to elicit high...
Persistent link: https://www.econbiz.de/10011378146
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Profit shifting and productivity mismeasurement
Bartelsman, Eric J.; Beetsma, Roel - 2000
This note identifies profit shifting in response to cross-countrydifferences in corporate tax rates as a source of productivitymismeasurement. To quantify the magnitude of mismeasurement, theprofit-shifting effect is isolated from other possible effects ofcorporatetax rates changes on real...
Persistent link: https://www.econbiz.de/10011304391
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What drives the quotes of earnigns forecasters?
Bruijn, Bert de; Franses, Philip Hans - 2012
Persistent link: https://www.econbiz.de/10009723028
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Banks and market liquidity
Arping, Stefan - 2015
I study a model of market-liquidity provision by levered intermediaries that, besides operating trading desks, run deposit-taking franchises. Levered intermediaries’ heightened incentive to absorb risk helps to counteract liquidity-provision frictions that, in an unlevered economy, would lead...
Persistent link: https://www.econbiz.de/10010477097