Zhang, Jian Xiong - Graduate School of Economics, Hitotsubashi University - 2007
- and post-IPO periods for Japanese firms. It can be stated that the shareholding by VC mitigates the financial constraints … of firms and is positively correlated with their R&D investment in the pre-IPO period; however, this effect disappears in … the post-IPO period. In addition, it can be assumed that financial constraints are released and informational asymmetries …