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Please use this identifier to cite or link to this item: https://doi.org/10.1016/S0378-4266(02)00317-5
DC FieldValue
dc.titleEffects of venture capitalists' participation in listed companies
dc.contributor.authorWang, C.K.
dc.contributor.authorWang, K.
dc.contributor.authorLu, Q.
dc.date.accessioned2013-10-09T06:54:13Z
dc.date.available2013-10-09T06:54:13Z
dc.date.issued2003
dc.identifier.citationWang, C.K., Wang, K., Lu, Q. (2003). Effects of venture capitalists' participation in listed companies. Journal of Banking and Finance 27 (10) : 2015-2034. ScholarBank@NUS Repository. https://doi.org/10.1016/S0378-4266(02)00317-5
dc.identifier.issn03784266
dc.identifier.urihttp://scholarbank.nus.edu.sg/handle/10635/44324
dc.description.abstractWe empirically examine the effects of venture capital (VC) firms on VC-backed listed companies in Singapore. While previous studies have shown the VC value-added in lower underpricing and better post-IPO operational performance of VC-backed IPOs, we find the effects of venture capitalists' participation are very complicated. Most significantly, the post-IPO operating performance of VC-backed companies is inferior though they are less underpriced. The finding supports both the certification model and the adverse selection model. Furthermore, we find that IPOs backed by older VC firms perform better, supporting the grandstanding model that younger VC firms bring their portfolios to the market prematurely. © 2002 Elsevier B.V. All rights reserved.
dc.description.urihttp://libproxy1.nus.edu.sg/login?url=http://dx.doi.org/10.1016/S0378-4266(02)00317-5
dc.sourceScopus
dc.subjectIPO
dc.subjectSingapore
dc.subjectVenture capital
dc.typeArticle
dc.contributor.departmentBUSINESS POLICY
dc.description.doi10.1016/S0378-4266(02)00317-5
dc.description.sourcetitleJournal of Banking and Finance
dc.description.volume27
dc.description.issue10
dc.description.page2015-2034
dc.description.codenJBFID
dc.identifier.isiut000185245100006
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