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The Decision of Venture Capitalists on Timing and Extent of IPOs
Tykvová, Tereza - 2003
We analyze the venture capitalist's decision on the timing of the IPO, the offer price and the fraction of shares he … sells in the course of the IPO. A venture capitalist may decide to take a company public or to liquidate it after one or two … financing periods. A longer venture capitalist's participation in a firm (later IPO) may increase its value while also …
Persistent link: https://www.econbiz.de/10010298130
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The timing of initial public offerings : non-numerical model based on qualitative trends
Meluzín, Tomáš; Zinecker, Marek; Balcerzak, Adam P.; … - In: Journal of business economics and management 19 (2018) 1, pp. 63-79
environment suggests that additional research is needed to develop new IPO timing models based not only on statistical analyses … identified key variables influencing IPO timing, which have sufficient support in the relevant IPO academic literature, e.g. GDP … actions might be implemented by CFOs in order to increase the chances of IPO success. We believe that our findings provide …
Persistent link: https://www.econbiz.de/10012174710
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Regime Uncertainty and Optimal Investment Timing
Nishide, Katsumasa; Nomi, Ernesto Kazuhiro - 2009
We construct a real options model in which a regime change is expected at a pre-determined future time and study the effects of regime uncertainty on a firm's strategic investment decision, taking into consideration the remaining time to the regime change and the probability of each regime...
Persistent link: https://www.econbiz.de/10014209938
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Regulatory independence and political interference : evidence from EU mixed-ownership utilities’ investment and debt
Cambini, Carlo; Rondi, Laura - 2010 - This draft: 11 May 2010
This paper examines the investment and financial decisions of a sample of 92 EU regulated utilities, taking into account key institutional features of EU public utilities, such as: a) regulation by agencies with various degrees of independence; b) partial ownership of the state in the regulated...
Persistent link: https://www.econbiz.de/10008729094
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Government ownership, informed trading, and private information
Borisova, Ginka; Yadav, Pradeep - 2015
We investigate the nature and extent of information asymmetry among traders in companies with government ownership. Consistent with a less transparent information environment, we find relatively less informed trading in the shares of firms with government presence, and specifically, fewer...
Persistent link: https://www.econbiz.de/10011334148
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Initial Conditions and the Private Debt Renegotiation Process
Godlewski, Christophe J. - 2017
I investigate whether and how initial conditions around loan origination influence private debt renegotiation process. I model the renegotiation likelihood, and the conditional probability of multiple renegotiation rounds or multiple amended terms using a sequential logit model. I use a large...
Persistent link: https://www.econbiz.de/10012964118
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Financial Constraints of Private Firms and Bank Lending Behavior
Behr, Patrick - 2015
We investigate whether and how financial constraints of private firms depend on bank lending behavior. Bank lending behavior, especially its scale, scope and timing, is largely driven by bank business models which differ between privately owned and state-owned banks. Using a unique dataset on...
Persistent link: https://www.econbiz.de/10013038432
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Private Debt Renegotiation and Financial Institutions’ Network
Godlewski, Christophe J. - 2020
We study the influence of financial institutions' network on private debt renegotiation outside of distress. Lenders with a network-central position have access to superior private information, are more experienced and trustworthy and have a greater reputational capital. Using a large sample of...
Persistent link: https://www.econbiz.de/10012842558
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The Private and Social Value of Capital Structure Commitment
Johnson, Timothy C. - 2019
We analyze dynamic stationary models of capital structure, in partial and general equilibrium, when managers cannot commit to firm-value maximization. The model permits us to quantify both the private cost to firms of the commitment problem, and also the aggregate cost of its externality. Our...
Persistent link: https://www.econbiz.de/10012896852
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Multiple Precautionary Motives for Private Firms’ Cash Holdings
Potì, Valerio - 2018
In this paper, we focus on the precautionary motive for holding cash in private firms. We check novel implications of such motive that arise under conditions that are typical of private firms. Because of incomplete separation of the finances of these firm from the finances of the owner, we also...
Persistent link: https://www.econbiz.de/10012937649