Showing 1 - 10 of 216,586
-collected dataset of about 3,600 EIF-backed VC investments made in the 1996-2015 period, with the aim to analyse their liquidity events … VC firm experience only relates positively to performance when outstanding (e.g. 3rd generation fund or above). However …, this may also be a reflection of EIF's high-standard screening of first-time VC teams. The paper is structured as follows …
Persistent link: https://www.econbiz.de/10011811049
This paper examines the determinants of private equity activity across Europe. We analyze a total of 43 explanatory variables, categorized into six groups: Economy; Finance and capital markets; Quality of institutions; Life quality; Economic freedom and Globalization. We assess their impact on...
Persistent link: https://www.econbiz.de/10015069526
The phenomena associated with the performance of newly listed companies has increased the interest of many researchers … objective of this work is to investigate the long-run performance of IPOs of venture and non-venture-backed companies. The …
Persistent link: https://www.econbiz.de/10013089376
We use investment-level data to study performance persistence in venture capital (VC). Consistent with prior studies …, we find that each additional IPO among a VC firm's first ten investments predicts as much as an 8% higher IPO rate on its … preferential access raises the quality of subsequent investments, perpetuating performance differences in initial investments …
Persistent link: https://www.econbiz.de/10011876728
further indicate a significant role of capital and R&D expenditures for long-run VC-backed IPO performance …Prior literature (e.g., Brav and Gompers, 1997) establishes that the average VC-backed IPO does not outperform … these three conditions: (1) high- reputation VCs, (2) large VC syndicates, and (3) long pre-IPO holding periods. The data …
Persistent link: https://www.econbiz.de/10014355564
We studied the financial returns of 52 venture-capital-backed cleantech companies that had IPOs between 2000 and 2010. The median IRR for the first round of venture capital was 26.1% with a range from -10.4% to 140.0%. The median IRR on the third round was 24.5% with a range from 8.1% to 184.6%....
Persistent link: https://www.econbiz.de/10013056635
's involvement (VCI) and the performance (P) of funded firms. As research on this topic has been inconclusive, we aim to determine … zwischen der Venture Capital-Beteiligung (VCI) und der Performance (P) der finanzierten Unternehmen befasst. Da die …
Persistent link: https://www.econbiz.de/10012213477
capital-backed companies' superior long-run performance, stock markets react more negatively to their acquisitions than to … companies' value prior to exiting. Such incentives increase their companies' investments, patenting, and performance; but …, early-stage financing, and long-run performance of private acquisitions …
Persistent link: https://www.econbiz.de/10013141931
We investigate whether access to information prior to an IPO generates a trading advantage after the IPO. We find that … otherwise. Overall, access to information prior to the IPO results in a trading advantage. These findings contribute to the …
Persistent link: https://www.econbiz.de/10013005321
.S. between 2003 and 2017. Using a unique data set of 1,921 investor-IPO returns, we show that later investments obtain higher … returns, even after controlling for observed and unobserved IPO company and VC investor characteristics. This is … counterintuitive as later investments are believed to be less risky than early investments because business risk declines as firms …
Persistent link: https://www.econbiz.de/10013243731