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Are IPOs of Different VCs Different?
Tykvová, Tereza; Walz, Uwe - 2004
This paper sets out to analyze the influence of different types of venture capitalists on the performance of their portfolio firms around and after IPO. We investigate the hypothesis that different governance structures, objectives, and track records of different types of VCs have a significant...
Persistent link: https://www.econbiz.de/10010297354
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Are IPOs of different VCs different?
Tykvová, Tereza; Walz, Uwe - 2004
This paper aims to analyze the impact of different types of venture capitalists on the performance of their portfolio firms around and after the IPO. We thereby investigate the hypothesis that different governance structures, objectives and track record of different types of VCs have a...
Persistent link: https://www.econbiz.de/10010298255
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Pricing initial public offerings in premature capital markets: The case of Hungary
Schindele, Ibolya; Perotti, Enrico C. - 2002
This paper investigates the determinants of underpricing at initial public offerings in theHungarian Initial Public … discount at privatization IPOs than at private issues, and a positive relation between underpricing and the proportion of … that the transition related determinants of underpricing disappear as the securities market becomes more mature. …
Persistent link: https://www.econbiz.de/10011335783
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Who knows what when? The Information content of pre-IPO market prices
Löffler, Gunter; Panther, Patrick F.; Theissen, Erik - 2002
To resolve the IPO underpricing puzzle it is essential to analyze who knows what when during the issuing process. In … midpoint of the bookbuilding range and the offer price. The pre-issue prices explain a large part of the underpricing left … underpricing suggests. …
Persistent link: https://www.econbiz.de/10010316258
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Underpricing of venture-backed and non venture-backed IPOs: Germany's Neuer Markt
Franzke, Stefanie A. - 2001
contributes to the underpricing literature by focusing on the complementary or rather competing role of venture capitalists and …/or underwritten by a top bank are expected to show less underpricing at the initial public offering (IPO) due to a reduced ex …
Persistent link: https://www.econbiz.de/10010292625
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Underpricing of venture-backed and non venture-backed IPOs: Germany's Neuer Markt
Franzke, Stefanie A. - 2003
contributes to the underpricing literature by focusing on the complementary or rather competing role of venture capitalists and …/or underwritten by a top bank are expected to show less underpricing at the initial public offering (IPO) due to a reduced ex …
Persistent link: https://www.econbiz.de/10010317404
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Learning and signalling in the French and German venture capital industries
Stolpe, Michael - 2003
This paper analyses the efficiency of venture capital and its impact on primary equity markets in France and Germany. It shows that venture capital operates according to the signalling model in France and according to the learning model in Germany. Only the learning model can serve as a...
Persistent link: https://www.econbiz.de/10010265598
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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/10012389572
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Wieviel Phantasie braucht die Fußballaktie?
Lehmann, Erik; Weigand, Jürgen - 1998
Nach dem Vorbild börsennotierter britischer Vereine wird es auch deutschen Profifußballvereinen in absehbarer Zukunft möglich sein, sich in Aktiengesellschaften umzuwandeln. Der anschließende Börsengang soll dann den nach den jüngsten Entwicklungen im Profifußballbereich gestiegenen...
Persistent link: https://www.econbiz.de/10010319312
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On-the-run premia, settlement fails, and central bank access
Schneider, Fabienne - 2024
The premium on "on-the-run" Treasuries (i.e. the most recently issued ones) is an anomaly. I explain it using a model in which primary dealers hold inventories of Treasuries. Primary dealers are more likely to hold large inventories of on-the-run Treasuries. There is also less variation across...
Persistent link: https://www.econbiz.de/10015053569