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interpretation of IPO timing …This paper examines the effect of stock market conditions on the waiting time of initial public offering (IPO … IPO date. I find that issuers are going public faster when time-varying stock market valuations are high, and when time …
Persistent link: https://www.econbiz.de/10013138891
the predicted IPO date, IPO announcement date and actual IPO date. The primary difference between TSX and TSX-V IPO …-and-above what companies themselves are able to signal. Similarly, TSX companies experience a shorter time from IPO announcement date … to an accurately predicted actual IPO date, suggesting TSX companies are better prepared to overcome the hurdles of …
Persistent link: https://www.econbiz.de/10014152412
In this paper, we find evidence of reversals in relative exit performance between the "short" and "long-run" in the VC market, with the short-run defined to be the first five years of business, and the long-run, the sixth year of business onwards. Using proxies for the risk of venture capital...
Persistent link: https://www.econbiz.de/10013006012
investor chooses the least expensive proposal and the timing of the investment. Innovators have to provide costly, but …, because the investor has less need to delay expensive investments. With endogenous number of innovators investment timing … the investment costs. When private benefits are large the investor may have to counter this by delaying the timing of …
Persistent link: https://www.econbiz.de/10013007922
We present a dynamic model of venture capital financing, described as a sequential investment problem with uncertain outcome. Each venture has a critical, but unknown threshold beyond which it cannot progress. If the threshold is reached before the completion of the project, then the project...
Persistent link: https://www.econbiz.de/10014046089
Persistent link: https://www.econbiz.de/10001543160
Motivated by the traditional business cycle approach of Burns and Mitchell (1946), we explore cyclical similarities in financial conditions over time in order to improve our understanding of financial cycles. Looking back at 120 years of data, we find that financial cycles exhibit behaviour...
Persistent link: https://www.econbiz.de/10012894116
Motivated by the traditional business cycle approach of Burns and Mitchell (1946), we explore cyclical similarities in financial conditions over time in order to improve our understanding of financial cycles. Looking back at 120 years of data, we find that financial cycles exhibit behaviour...
Persistent link: https://www.econbiz.de/10012896704
(b) it attains some maximum at a marginal rate between 0.5 and 1 if the preference takes the form of favorable timing …. Disadvantageous timing has exactly the opposite properties …
Persistent link: https://www.econbiz.de/10013078657
This paper shows the general reversibility of every perfect foresight equilibrium of an overlapping generations economy. It then shows and characterizes the existence of reversible sunspot equilibria in these economies as well, which seems to be at odds with our intuition about the...
Persistent link: https://www.econbiz.de/10014128514