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Annualized Returns of Venture-Backed Public Companies Categorized by Stage of Financing: An Empirical Investigation of IPOS in the Last Three Decades

Shachmurove, Yochanan - In: Journal of Entrepreneurial Finance 6 (2001) 1, pp. 44-58

proliferate. One often hears about the incredible capital gains of IPO share prices. This paper refutes the myth that investors …

Persistent link: https://www.econbiz.de/10011310374

How the Entrepreneurial Top Management Team Setup Influences Firm Performance and the Ability to Raise Capital: A Literature Review

Maschke, Konstantin; zu Knyphausen-Aufseß, Dodo - In: BuR - Business Research 5 (2012) 1, pp. 83-123

This paper reviews research findings on entrepreneurial top management teams within the last 20 years. It concentrates on team-based management factors and their influence on a new venture's growth and ability to raise capital. This paper integrates recent findings and provides an overview of...

Persistent link: https://www.econbiz.de/10010421371

The Impact of the Sarbanes-Oxley Act on the Cost of Going Public

Kaserer, Christoph; Mettler, Alfred; Obernberger, Stefan - In: BuR - Business Research 4 (2011) 2, pp. 125-147

This paper examines the impact of the Sarbanes-Oxley Act (SOX), a legal framework intended to increase transparency and accountability of listed companies, on the cost of going public in the US. We expect SOX to increase the direct cost of going public, but decrease the underpricing because of...

Persistent link: https://www.econbiz.de/10010421362

SB IPOs and IPO Anomalies: An Empirical Analysis of the Small Firm Uniqueness Hypothesis

Brau, James C.; Carpenter, C. Troy - In: The Journal of Entrepreneurial Finance (JEF) 16 (2013) 2, pp. 75-96

). We do this by using the 5B-IPO program of the SEC as our instrument to define a small firm. Having identified small firms …, we test the three IPO anomalies to see if small firms differ from large firms along these dimensions. We find that 5B …

Persistent link: https://www.econbiz.de/10010343292

Who Failed to Go Public with Best Efforts Offerings

Cho, Sung-Il - In: Journal of Small Business Finance 3 (1993) 1, pp. 63-77

This paper presents evidence on the failed initial public offerings that used best efforts contracts. Out of 732 best efforts IPOs attempted in 1980-84, 186 IPOs (about one fourth) failed to meet minimum sales requirement and were subsequently withdrawn. Offerings with greater uncertainty about...

Persistent link: https://www.econbiz.de/10011310328

Corporate Efficiency, Profitability, and Value Changes after the IPO

McConaughy, Daniel L.; Dhatt, Manjeet S.; Kim, Yong H. - In: Journal of Small Business Finance 3 (1994) 2, pp. 167-170

that had IPOs in 1985 compared to a matched sample of similar firms which had their IPO before 1980. We find that the 1985 … IPO firms were more profitable, operationally more efficient, had more liquid assets, and had greater value over the 1985 …

Persistent link: https://www.econbiz.de/10011310335

Is window-dressing around going public beneficial? Evidence from Poland

Lizińska, Joanna; Czapiewski, Leszek - In: Journal of Risk and Financial Management 12 (2019) 1, pp. 1-16

public offerings (IPO). If investors are misled by manipulated earnings, they could pay too high a price and suffer losses in … in Poland. We use a set of proxies of earnings management and test the long-term IPO performance under several factor … significant in almost half of methodology settings. The results seem to suggest that investors might not be able to discount pre-IPO …

Persistent link: https://www.econbiz.de/10012611076

Is the success of an issuer an investor success? Evidence from Polish IPOs

Brycz, Bogumila; Dudycz, Tadeusz; Kowalski, Michal J. - In: Baltic Journal of Economics 17 (2017) 1, pp. 57-77

This article examines the factors that determine IPO success in raising equity capital, and how this success translates … pre-IPO profitability is a strong and positive signal for investors that translates into a higher offer price and … therefore determines the success of the issuance. However, companies with high IPO success do not provide investors with better …

Persistent link: https://www.econbiz.de/10011868515

An analysis of selling concessions, reallowance fees, and price changes in the marketing of IPOs

Brau, James C.; Henry, Joseph J. - In: The Journal of Entrepreneurial Finance (JEF) 24 (2022) 4, pp. 18-46

clientele of sophisticated investors, consistent with Shiller's Impresario Hypothesis. Our pre-IPO bubble (1981-1996) empirical … results yield evidence supporting both selling mechanisms. Under-demanded small IPO issues are "pushed" by the brokers, while … some under-demanded large IPO issues instead increase the offer price, with large first-day turnover characteristics of …

Persistent link: https://www.econbiz.de/10015100682

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 (JBEM) 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/10015401586