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Strategic Alliances and Corporate Governance in Newly Public Firms : Evidence from Venture Backed IPOs
Ivanov, Vladimir I. - 2010
We investigate the corporate governance of venture capital (VC) backed IPOs that enter into strategic alliances. Startups can have alliances with outside strategic partners and with parents of corporate VCs (CVCs), who primarily invest in startups for strategic reasons. Both CVCs and outside...
Persistent link: https://www.econbiz.de/10013146690
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Entrepreneurial spawning : experience, education, and exit
Cumming, Douglas J.; Walz, Uwe; Werth, Jochen - 2016
We investigate the career dynamics of high-tech entrepreneurs by analyzing the exit choice of entrepreneurs: to act as a business angel, to found another firm, or to become dependently employed. Our detailed data from CrunchBase indicate that founders are more likely to stick with...
Persistent link: https://www.econbiz.de/10011539856
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Transforming the Management and Governance of Private Family Firms Prior to Initial Public Offerings : The Role of Venture Capital
Chemmanur, Thomas J. - 2020
We analyze the role of venture capitalists (VCs) in transforming the management and governance of China's private family firms pre-IPO. We show, causally, that VC-backed family firms are more likely than non-VC backed family firms to experience departures of family members from top management...
Persistent link: https://www.econbiz.de/10012856056
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Conflicting fiduciary duties and fire sales of VC-backed start-ups
Bian, Bo; Li, Yingxiang; Nigro, Casimiro A. - 2022
This paper studies the interactions between corporate law and VC exits by acquisitions, an increasingly common source of VC-related litigation. We find that transactions by VC funds under liquidity pressure are characterized by (i) a substantially lower sale price; (ii) a greater probability of...
Persistent link: https://www.econbiz.de/10013279443
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Scaling up : the implementation of corporate governance in pre-IPO companies
Larcker, David F.; Tayan, Brian - 2018
Companies are required to have a reliable system of corporate governance in place at the time of IPO in order to protect the interests of public company investors and stakeholders. Yet, relatively little is known about the process by which they implement one. This Closer Look, based on detailed...
Persistent link: https://www.econbiz.de/10012065143
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Outside Directors at Early-Stage Startups
Venugopal, Buvaneshwaran; Yerramilli, Vijay - 2020
We document substantial variation across startups in whether and when they appoint outside directors, and the type of directors they appoint. The startup-director match depends on professional connections and individual experience profiles. Early-stage investors are more likely to serve as...
Persistent link: https://www.econbiz.de/10014033083
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An Introduction to Corporate Venturing
Tailor, Devash - 2012
Persistent link: https://www.econbiz.de/10013105861
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Kill zones? : effects of big tech start-up acquisitions on innovation : paper prepared for presentation at the International Telecommunications Society (ITS) Biennial Conference Go...
Prado, Tiago S. - 2021
This paper investigates short-term effects of big tech start-up acquisitions on innovation empirically. Innovation … research has found a strong positive, causal relationship between VC investment and innovation. Using this insight, we can … explore the repercussions of big tech start-up acquisitions on innovation by examining their effects on venture capital (VC …
Persistent link: https://www.econbiz.de/10012805979
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The impact of VC on the exit and innovation outcomes of EIF-backed start-ups
Pavlova, Elitsa; Signore, Simone - 2021
We use competing risks methods to investigate the causal link between venture capital (VC) investments supported by the EIF and the exit prospects and patenting activity of young and innovative firms. Using a novel dataset covering European start-ups receiving VC financing in the years 2007 to...
Persistent link: https://www.econbiz.de/10012436188
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The Life Cycle of Corporate Venture Capital
Ma, Song - 2019
entry concentrates in firms that experience deteriorations of internal innovation. At the investment stage, CVCs select … generated from these ventures that create strategic value. CVCs are terminated when parent firms' innovation recovers. Overall …, the strategic desire to fix innovation weaknesses after adverse shocks motivates firms to adopt CVCs …
Persistent link: https://www.econbiz.de/10012903821