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SPACs : post-merger survival
Vulanovic, Milos - 2016
This paper studies how institutional characteristics of Specified Purpose Acquisition Companies (SPACs) are related to … their post-merger survival. SPACs are unique financial firms that conduct the IPO with the solely purpose to use the … proceeds to acquire another private company. Paper finds that institutional characteristics of SPACs are important in …
Persistent link: https://www.econbiz.de/10011567362
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SPAC IPOs
Shachmurove, Yochanan; Vulanovic, Milos - 2018
Specified Purpose Acquisition Companies (SPACs) are a special type of public companies currently available to investors … in financial markets. As an investment vehicle, modern SPACs are traced back to 18-th century England where blank checks … Commission classifies SPAC as a blank check company. This chapter reviews the academic and financial literatures about SPACs …
Persistent link: https://www.econbiz.de/10011844106
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Does a VC’s Commitment Lead to Improved Investment Outcomes? Evidence From Climate Startups
Burt, Aaron; Harford, Jarrad V. T.; Stanfield, Jared R.; … - 2022
We assess whether a VC’s intrinsic commitment to a startup affects investment performance. We proxy for climate change commitment using the political contributions to democrats of the lead VC person on a deal. We find investments by democrats in climate-related startups have 8% higher...
Persistent link: https://www.econbiz.de/10014236837
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Importance of the non-financial value added of government and independent venture capitalists
Luukkonen, Terttu; Deschryvere, Matthias; Bertoni, Fabio; … - 2011
This paper compares the post-investment value-added activities performed by governmental venture capital (GVC) and independent venture capital (IVC) for their portfolio companies, and controls for the selection effect that the different investment profiles of these investors might have on the...
Persistent link: https://www.econbiz.de/10010326858
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The interdependence of R&D activity and debt financing of young firms
Fryges, Helmut; Kohn, Karsten; Ullrich, Katrin - 2012
We investigate the interdependence of debt financing and R&D activities of young firms. Using micro-level data of the KfW/ZEW Start-up Panel, our estimation results show that firm characteristics are more important than personal characteristics of the founders for explaining young firms’...
Persistent link: https://www.econbiz.de/10009510150
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The interdependence of R&D activity and debt financing of young firms
Fryges, Helmut; Kohn, Karsten; Ullrich, Katrin - 2011
We investigate the interdependence of debt financing and R&D activities of young firms. Using micro-level data of the KfW/ZEW Start-up Panel, our estimation results show that firm characteristics are more important than personal characteristics of the founders for explaining young firms'...
Persistent link: https://www.econbiz.de/10009523478
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Importance of the non-financial value added of government and independent venture capitalists
Luukkonen, Terttu; Deschryvere, Matthias; Bertoni, Fabio; … - 2011
This paper compares the post-investment value-added activities performed by governmental venture capital (GVC) and independent venture capital (IVC) for their portfolio companies, and controls for the selection effect that the different investment profiles of these investors might have on the...
Persistent link: https://www.econbiz.de/10009296648
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Does Venture Capitalists Reputation Improve the Survival Profile of IPO Firms?
Hamza, Olfa - 2011
This paper examines the effect of Venture Capital (VC) reputation on the survival profile of U.S. Initial Public Offerings (IPOs) firms for the 1985-2005 period. To do so, we construct a VC quality index and develop multinomial logit models based on the information contained in the prospectus....
Persistent link: https://www.econbiz.de/10013124291
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The Long-Run Performance of IPOs in Italy : A Comparison of Venture and Non-Venture-Backed Companies
Rossi, Fabrizio - 2013
The phenomena associated with the performance of newly listed companies has increased the interest of many researchers who have developed a vast literature on long-term underpricing and underperformance, which together with hot and cold issue markets, represent the three anomalies that have...
Persistent link: https://www.econbiz.de/10013089376
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Venture Capital Ownership Type, Investment Criteria and Venture Performance
Dai, Na - 2009
We investigate the investment behavior and exit performance of VCs that have pursued expansion outside their home locations. Our findings indicate that in the Asian VC markets, foreign VCs have relative advantages over local VCs in terms of size and experience while they are at disadvantage in...
Persistent link: https://www.econbiz.de/10013153529