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This paper investigates conflicts of interest associated with relationship banking. Using a sample of 270 German initial public offerings (IPOs), we ask if universal-bank-underwritten IPOs perform differently from IPOs underwritten by specialized investment banks. We find that universal-bank...
Persistent link: https://www.econbiz.de/10012958828
This paper analyzes a comprehensive data set of 160 non venture-backed, 79 venture-backed and 61 bridge financed companies going public at Germany´s Neuer Markt between March 1997 and March 2002. I examine whether these three types of issues differ with regard to issuer characteristics, balance...
Persistent link: https://www.econbiz.de/10009767675
Succesful Initital Public Offerings of Venture Capital Investments are a major requirement of an efficient Private Equity Market in a well-oiled national economy. IPO as an adequate way of an investment exit is one of the most important alternatives for leaving an investment to reinvest in new...
Persistent link: https://www.econbiz.de/10013064947
Using a unique, hand-collected database of all venture-backed firms listed on Germany's Neuer Markt, we analyze the history of venture capital financing of these firms before the IPO and the behavior of venture capitalists at the IPO. We can detect significant differences in the behavior and...
Persistent link: https://www.econbiz.de/10009765361
This chapter documents the evolution of ownership and control of firms around the world over a hundred year period from the beginning of the 20th century to today. It records the substantial changes that have taken place in the nature of stock markets and contrasts these with the persistent...
Persistent link: https://www.econbiz.de/10012954116
This chapter documents the evolution of ownership and control of firms around the world over a hundred year period from the beginning of the 20th century to today. It records the substantial changes that have taken place in the nature of stock markets and contrasts these with the persistent...
Persistent link: https://www.econbiz.de/10012958435
Research on IPOs commonly focuses on the relation between firms' pre IPO ownership structure and subsequent stock performance. We extend the literature by additionally focusing on companies' post IPO ownership structure, in particular private equity capital engagement, to analyze IPOs stock...
Persistent link: https://www.econbiz.de/10012968834
This chapter documents the evolution of ownership and control of firms around the world over a hundred year period from the beginning of the 20th century to today. It records the substantial changes that have taken place in the nature of stock markets and contrasts these with the persistent...
Persistent link: https://www.econbiz.de/10014023371
third party funders in Europe focused primarily on follow-on cartel damage claims. The discussion is then expanded to the …
Persistent link: https://www.econbiz.de/10013113308
activity in the countries of Northern Europe has not been made. Therefore, the aim of our research is to compare the level of … of Northern Europe. We have also established that population size, the size of economy and GDP per capita rate in the …. Moreover, we confirm that business angel activity in the countries of Northern Europe is highly heterogeneous. We have also …
Persistent link: https://www.econbiz.de/10012870489