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going-private decisions to various characteristics of the IPO market as well as to VC characteristics. We find strong … final stage in the life of the portfolio firm. We find no support that reputable VCs underprice their IPO-exits more …
Persistent link: https://www.econbiz.de/10013111333
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 … considering the timing of initial public offerings (IPOs) under conditions of underdeveloped capital markets, where decision …
Persistent link: https://www.econbiz.de/10012174710
We analyze the desinvestment decision of venture capitalists in the course of an IPO of their portfolio firms. The … capital market learns of the project quality only in the period following the IPO. Venture capitalists with high-quality firms …
Persistent link: https://www.econbiz.de/10010298232
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
both the entrepreneur and the incumbent to produce their products. I analyze three different exit routes: (1) IPO, (2 … likely via an IPO, in comparison with the CVC. The analysis generates a number of empirical implications for the difference …
Persistent link: https://www.econbiz.de/10011892152
Venture capital (VC) and growth are examined both empirically and theoretically. Empirically, VC-backed startups have higher early growth rates and initial patent quality than non-VC-backed ones. VC backing increases a startup's likelihood of reaching the right tails of the firm size and...
Persistent link: https://www.econbiz.de/10012389572
Despite the sometimes intensive media coverage and exuberant storytelling around the industry, venture capital (VC) investors tend to operate in highly opaque markets. On this premise, this work contributes to the literature via a hand-collected dataset of about 3,600 EIF-backed VC investments...
Persistent link: https://www.econbiz.de/10011811049
Venture capital (VC) and growth are examined both empirically and theoretically. Empirically, VC-backed startups have higher early growth rates and initial patent quality than non-VC-backed ones. VC-backing increases a startup’s likelihood of reaching the right tails of the firm size and...
Persistent link: https://www.econbiz.de/10012141061
We analyze the desinvestment decision of venture capitalists in the course of an IPO of their portfolio firms. The … capital market learns of the project quality only in the period following the IPO. Venture capitalists with high-quality firms …
Persistent link: https://www.econbiz.de/10010986431
time it takes VC backers to exit portfolio companies through initial public offering (IPO), trade sale (M&A), or other …
Persistent link: https://www.econbiz.de/10011209868