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the impact of cultural values and the moderating effect of economic growth on IPO underpricing issued by Chinese companies … underpricing; in markets with higher uncertainty avoidance scores, masculinity, individualism, or indulgence, IPOs experience lower … underpricing. The greater the multidimensional cultural distance is to the Chinese A-share market, the less underpricing IPOs …
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Growth capital investing is the financing of growing businesses that are investing in tangible assets and the acquisition of other companies. Growth capital is common in retailing, restaurant chains, and health care management, and represents 12% of all venture capital (VC)-backed initial public...
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The chapter reconceptualizes financial innovation. In this context, it discusses the risks of financial innovation and contemporary regulatory reforms addressing those risks. It provides a critique of contemporary reforms. Finally, it stresses the need for a new framework to regulate financial...
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I investigate the exit outcomes of start-ups backed by government VCs (GVCs) and private VCs (PVCs), using a sample of 8,106 start-ups in China funded by VCs between 1991 and 2013 and exit information updated in 2018. I find that start-ups backed by GVCs are less likely to exit through domestic...
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Many startups are commonly-held by the same venture capital (VC) investors. We exploit the staggered introduction of liability exemptions when investors hold stakes in conflicting business opportunities as a shock to common ownership. We find increases in common ownership and directors serving...
Persistent link: https://www.econbiz.de/10012848882
At year-end of 2016, upward trend of retail credit exposure on bank loans resumed. Growth was entirely due to residential loans segment in the context of consumer lending shrinking. Shift in the debt structure in favor of cheaper and long-term credits issued for residential purchases secured...
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This paper evaluates the role of Korean government in the venture capital industry, in particular in the stages of fund-raising and venture investment. Utilizing data from Korean Venture Capital Association (KVCA), the analysis is conducted for the venture boom and post-boom periods separately....
Persistent link: https://www.econbiz.de/10012993164
In 2021, retail lending has been the most dynamically growing banking market segment spurring banking revenues growth. The worsening of loan portfolio quality was driven by rising inflation, stagnation of households’ real incomes and the epidemiological situation, which factors could not but...
Persistent link: https://www.econbiz.de/10013313617