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Bank loans to newly public firms
Shaffer, Sherrill; Sokolyk, Tatyana - In: Journal of entrepreneurial finance : JEF ; official … 16 (2013) 2, pp. 33-56
Prior studies have shown that newly public firms exhibit a high degree of uncertainty and asymmetric information, with few reliable sources of information. These findings suggest that investors could benefit if some independent party is able to assess the quality of a newly public firm. Since...
Persistent link: https://www.econbiz.de/10010345095
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Trust and the demand for personal collateral in SME - bank relationships
Moro, Andrea; Lucas, Mike R.; Kodwani, Devendra - In: Journal of entrepreneurial finance : JEF ; official … 16 (2012) 1, pp. 57-79
Previous research on relationship lending has paid very little attention to the role of trust. Trust might be ex-pected to reduce agency costs, perceived credit risk and thus the request for personal collateral. Trustworthiness is associated with three attributes of SME owner/managers’:...
Persistent link: https://www.econbiz.de/10010345099
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Effects of microfinance bank credit on small and medium scale businesses : evidence from Alimosho LGA, Lagos State
Onyeiwu, Charles; Muoneke, Obumneke Bob; Abayomi, … - In: Journal of entrepreneurial finance : JEF ; official … 22 (2020) 2, pp. 49-65
The purpose of this research is to examine the impact of microfinance bank credit and its debt servicing on the profitability of SMEs in Alimosho Local Government Area, Lagos State, Nigeria. A survey was carried out involving 387 SMEs in Alimosho LGA, Lagos State and information was extracted...
Persistent link: https://www.econbiz.de/10012486852
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Bank loan information and information asymmetry in the stock market : evidence from China
Ye, Yanyi; Wang, Yun; Yang, Xiaoguang - In: Financial innovation : FIN 8 (2022), pp. 1-28
In this study, we use bank loan information to construct proxies for corporate transparency and examine whether these measures reflect information asymmetry in the stock market. Our analysis is based on a novel dataset of stock transactions and bank loans of all publicly listed firms on the...
Persistent link: https://www.econbiz.de/10013272640
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SB IPOs and IPO anomalies : an empirical analysis of the small firm uniqueness hypothesis
Brau, James C.; Carpenter, C. Troy - In: Journal of entrepreneurial finance : JEF ; official … 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/10010345093
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A theory of entrepreneurial overconfidence, effort, and firm outcomes
Everett, Craig R.; Fairchild, Richard J. - In: Journal of entrepreneurial finance : JEF ; official … 17 (2015) 1, pp. 1-26
firm outcomes, such as acquisition or IPO. In our model, increasing overconfidence produces two conflicting effects on the …
Persistent link: https://www.econbiz.de/10011992244
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Prior banking relationships and long-term IPO performance
Chan, Kam C.; Li, Guangzi - In: International review of economics & finance : IREF 77 (2022), pp. 123-134
Persistent link: https://www.econbiz.de/10013330744
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The rich get richer and the poor get poorer : social media and the post-IPO behavior of investors in biotechnology firms : the relationship with twitter volume
Siev, Smadar - In: Journal of risk and financial management : JRFM 14 (2021) 10, pp. 1-17
This paper analyzes stock returns for biotechnology firms after initial public offering (IPO) and explores the effect … average abnormal returns (CAARs) of 1.97% in the first 25 days post-IPO and a decline of tens of percentage points over the … yield negative CAARs immediately following the IPO; however, this negative CAAR becomes significant only from day 50 onward …
Persistent link: https://www.econbiz.de/10012628769
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Do private firms benefit from trading in the private securities market?
Loveland, Robert; Fricke, Eric; Goktan, Sinan - In: Journal of entrepreneurial finance : JEF ; official … 19 (2017) 2, pp. 1-30
, private security exchanges. This paper uses data on IPO firms that list on the SharesPost private securities exchange platform … to examine the potential benefits of a listing. Specifically, we test whether a listing reduces IPO underpricing or … enables liquidity provision to firm employees. Controlling for endogeneity, we find no evidence that a pre-IPO listing on …
Persistent link: https://www.econbiz.de/10011991364
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Underpricing on the selected European Alternative Investment Markets
Hadro, Dominika; Pauka, Marek - In: E-Finanse : finansowy kwartalnik internetowy 15 (2019) 2, pp. 87-94
The phenomenon of underpricing is the subject of many studies on the stock markets, but there is still a research gap referring to the European Alternative Investment Markets, markets for small and medium companies. They are a source of capital and such an anomaly as underpricing could be a...
Persistent link: https://www.econbiz.de/10012104408