Introduction to the experiences and challenges in the development of the Chinese capital market / Douglas Cumming, Alessandra Guariglia, Wenxuan Hou, and Edward Lee -- Information asymmetry and the diversification discount : evidence from listed firms in China / Michael Firth, Man Jin and...

Prior literature (e.g., Brav and Gompers, 1997) establishes that the average VC-backed IPO does not outperform benchmarks. In this paper, we show, by accounting for VC holdings, that the average VC-backed IPOs does outperform as long as the VC is still present. This outperformance continues...

Equity crowdfunding markets have grown exponentially over the last few years. Despite this impressive growth, significant informational asymmetry problems may plague these markets, making them susceptible to difficulties and even market failure. In this paper, we depart from current equity...

This paper examines the impact of government versus private independent venture capital (VC) backing on the exit performance of entrepreneurial firms. Our analyses are based on the VICO dataset, which avoids the coding problems of VC type in the Thompson Financial SDC dataset. The data indicate...

We document the types of private debt securities used by private firms across 25 countries over 2001-2010. Returns to private debt depend on lender (fund manager) characteristics, particularly portfolio size per manager, highlighting the role of time allocation for due diligence and monitoring....

Leveraging data from a leading FinTech peer-to-peer lending platform in the United States, allowing us to capture both individuals’ successful and unsuccessful loan applications, we test the effect of FinTech loans on subsequent employment choice and future financial performance of serial...