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Synergizing ventures
Akcigit, Ufuk; Dinlersoz, Emin Murat; Greenwood, Jeremy; … - 2019
higher early growth rates and initial patent quality than non-VC-backed ones. VC backing increases a startup's likelihood of …
Persistent link: https://www.econbiz.de/10012389572
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To Be Financed or Not... - The Role of Patents for Venture Capital Financing
Haeussler, Carolin; Harhoff, Dietmar; Müller, Elisabeth - 2009
This paper investigates how patent applications and grants held by new ventures improve their ability to attract … British biotechnology companies we have identified all patents filed at the European Patent Office (EPO). Applying hazard rate … analysis, we find that in the presence of patent applications, VC financing occurs earlier. Our results also show that VCs pay …
Persistent link: https://www.econbiz.de/10010333772
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To Be Financed or Not … - The Role of Patents for Venture Capital Financing
Haeussler, Carolin; Harhoff, Dietmar; Müller, Elisabeth - 2009
This paper investigates how patent applications and grants held by new ventures improve their ability to attract … British biotechnology companies we have identified all patents filed at the European Patent Office (EPO). Applying hazard rate … analysis, we find that in the presence of patent applications, VC financing occurs earlier. Our results also show that VCs pay …
Persistent link: https://www.econbiz.de/10010427765
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Reducing Asymmetric Information in Venture Capital Backed IPOs
Escobari, Diego; Serrano, Alejandro - 2015
Purpose – The purpose of this paper is to model asymmetric information and study the profitability of venture capital (VC) backed initial public offerings (IPOs). Our mixtures approach endogenously separates IPOs into differentiated groups based on their returns’ determinants. We also...
Persistent link: https://www.econbiz.de/10011390741
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Financial development and innovation in China: Evidence from the provincial data
Hanley, Aoife; Liu, Wan-Hsin; Vaona, Andrea - 2011
This paper investigates the role of regional financial development, in addition to FDI, for regional innovation in China, using a more recent provincial dataset and more sophisticated panel data estimation techniques than previous studies. Two aspects of regional financial system development are...
Persistent link: https://www.econbiz.de/10010275701
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Der Wertpapierprospekt: empirische Befunde zur Qualität der Risikoangaben bei Neuemissionen
Henselmann, Klaus; Klein, Martin; Maier, Christian - 2009
The paper analyzes the risk disclosure quality in the prospectus of IPOs in Germany between 2006 and 2008. Quality of risk information is measured as precision and comprehensibility. The relationship between risk disclosure quality and earnings power is tested.
Persistent link: https://www.econbiz.de/10010300003
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Price versus Quantity Discrimination in Optimal IPOs
Bennouri, Moez; Falconieri, Sonia - 2001
This paper addresses the issue of the choice of the optimalinstrument to sell new shares, this choice being price versusquantity discrimination (rationing). Previous results in theliterature (Benveniste and Wilhelm, 1990) show that the issuing firmwould be better off if allowed to use both price...
Persistent link: https://www.econbiz.de/10010325003
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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
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Underpricing of venture-backed and non venture-backed IPOs: Germany's Neuer Markt
Franzke, Stefanie A. - 2001
This paper analyzes a comprehensive data set of 108 non venture-backed, 58 venturebacked and 33 bridge financed companies going public at Germany's Neuer Markt between March 1997 and March 2000. I examine whether these three types of issues differ with regard to issuer characteristics, balance...
Persistent link: https://www.econbiz.de/10010292625