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The role of underwriter peer networks in IPOs
Chuluun, Tuugi - In: Journal of Banking & Finance 51 (2015) C, pp. 62-78
This study examines how various aspects of underwriter peer network affect IPOs. We use different network measures to … network partners. Our results show that IPOs underwritten by book managers with more central and cohesive networks and … underprice more. These results indicate that underwriters use peer networks to produce information and place securities, and …
Persistent link: https://www.econbiz.de/10011194179
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Contractual Execution, Strategic Incompleteness and Venture Capital
Dessí, Roberta - C.E.P.R. Discussion Papers - 2009
Contractual execution generates hard information, available to the contracting parties, even when contracts are secretly executed. Building on this simple observation, the paper shows that incomplete contracts can be preferred to complete contracts. This is because (i) execution of incomplete...
Persistent link: https://www.econbiz.de/10004976792
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Venture Capital and Knowledge Transfer
Dessí, Roberta; Yin, Nina - C.E.P.R. Discussion Papers - 2015
This paper explores a new role for venture capitalists, as knowledge intermediaries. A venture capital investor can communicate valuable knowledge to an entrepreneur, facilitating innovation. The venture capitalist can also communicate the entrepreneur's innovative knowledge to other portfolio...
Persistent link: https://www.econbiz.de/10011168896
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Venture Capital and Knowledge Transfer
Dessi, Roberta; Yin, Nina - Institut d'Économie Industrielle (IDEI), Toulouse … - 2015
This paper explores a new role for venture capitalists, as knowledge intermediaries. A venture capital investor can communicate valuable knowledge to an entrepreneur, facilitating innovation. The venture capitalist can also communicate the entrepreneur's innovative knowledge to other portfolio...
Persistent link: https://www.econbiz.de/10011189076
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Venture Capital and Knowledge Transfer
Dessi, Roberta; Yin, Nina - Toulouse School of Economics (TSE) - 2015
This paper explores a new role for venture capitalists, as knowledge intermediaries. A venture capital investor can communicate valuable knowledge to an entrepreneur, facilitating innovation. The venture capitalist can also communicate the entrepreneur's innovative knowledge to other portfolio...
Persistent link: https://www.econbiz.de/10011189158
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Innovation, Spillovers and Venture Capital Contracts
Dessí, Roberta - C.E.P.R. Discussion Papers - 2012
Innovative start-ups and venture capitalists are highly clustered, benefiting from localized spillovers: Silicon Valley is perhaps the best example. There is also substantial geographical variation in venture capital contracts: California contracts are more 'incomplete'. This paper explores the...
Persistent link: https://www.econbiz.de/10011084393
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Vertical Integration and Fuel Diversity in Electricity Generation – a theoretical study in imperfect competition
Fristrup, Peter; Klinge Jacobsen, Henrik - Volkswirtschaftliche Fakultät, … - 2005
This paper contains an analysis of stylised natural gas and electricity supply sectors. Power plants operate either on natural gas or on a competing fuel – e.g. oil. The competing fuel is assumed to be traded at world market price whereas natural gas is sold by a national monopoly. The paper...
Persistent link: https://www.econbiz.de/10011258577
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Does Competition Favor Delegation?
Ruzzier, Christian Alejandro - Harvard Business School, Harvard University - 2009
This paper studies the consequences of product-market competition on firms' decisions to delegate more or fewer decision-making responsibilities to managers. By simultaneously addressing the choice of both competitive actions and organizational design, the paper makes an attempt at bringing...
Persistent link: https://www.econbiz.de/10005087426
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Supermarkets as a Natural Oligopoly
Ellickson, Paul - Duke University, Department of Economics - 2005
This paper uses a model of endogenous sunk cost (ESC) competition to explain the industrial structure of the supermarket industry, where a few powerful chains provide high quality products at low prices. The predictions of this model accord well with the features of the supermarket industry...
Persistent link: https://www.econbiz.de/10005787318
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Does Sutton Apply to Supermarkets?
Ellickson, Paul - Duke University, Department of Economics - 2005
This paper presents empirical evidence that endogenous sunk costs play a central role in determining the equilibrium structure of the supermarket industry. Using the endogenous sunk cost (ESC) framework developed in Sutton (1991), I construct a model of supermarket competition where escalating...
Persistent link: https://www.econbiz.de/10005787380