This paper analyzes the role of foreign VCs in driving venture success in emerging markets. We analyze a comprehensive data-set of 4753 portfolio companies from China. We test whether the presence of a foreign VC increases the likelihood that a portfolio company is successfully exited. We find...

We use a comprehensive database of venture-capital-backed companies from China to test whether and how foreign venture capitalists (VCs) can facilitate international initial public offerings (IPOs) of entrepreneurial companies. Foreign VCs increase the likelihood that a portfolio company lists...

Despite the general acceptance of the role of corporate governance, empirical research has remained inconclusive regarding the extent to which individual monitoring mechanisms enhance firm performance and shareholder value. In particular, most previous studies have not convincingly overcome two...

We investigate abnormal returns resulting from the announcement of a rights issue of equity in Australia and are the first study outside the U.S and the U.K to examine the pricing of rights issues and the determinants of that pricing. Rights issues are met with a significantly negative abnormal...

This study documents a significant positive announcement effect for a unique capital raising tool, stand alone warrants, in the Australian market. The result is consistent with the models of Schultz (1993) and Mayers (1998) where a warrant is viewed positively by the market. The results of the...

This paper is the first to introduce an analysis of the effect of different types of venture capitalist value-added activities (financial, administrative, marketing strategic/management) on fundraising. In addition, we include an analysis of the functional difference between committed funds and...

We examine whether improved governance helps to channel firms with powerful CEOs towards more value enhancing investment policies. We use the Sarbanes-Oxley Act and NYSE/NASDAQ listing rules as a quasi-exogenous shock and focus on firms that were required to improve governance. We find that,...

We investigate the influence of government grants, venture capital (VC), and private equity (PE) funding on innovation in newly public firms. We examine innovation inputs (R&D), innovation outputs (patents), and the quality thereof (patent citations). We contribute to understanding of the...

We compare the motivations for switching underwriters between seasoned equity offerings (SEOs) for both shelf offerings and traditional offerings. Shelf offerings have risen in importance and accounted for more than 90% of SEOs in 2015. In traditional offerings, the underwriter is selected...

This study explores the role of venture capitalists on investee boards at the time of listing for 552 initial public offerings. Australian board structures/mechanisms are more similar to those in the U.S/U.K but market activity characteristics are more similar to Japanese/German systems....