How useful is venture capital prestige? Evidence from IPO survivability

Chou, Ting Kai; Cheng, Jia Chi; Chien, Chin Chen

doi:10.1007/s11187-011-9389-5

Cited by 48 publications

(33 citation statements)

References 54 publications

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“…They also found that only 9% of their high-tech IPO samples were delisted compared with the 17% of other sectors' IPO in five years. In a more recent study, Chou et al (2013) documented that 13% of the US IPO listed during 1980-2003 failed to continue being listed after a five-year period. This figure, however, is lower than the failure rate reported in the previous USbased studies such as by Hensler et al (1997) (28%), Jain and Kini (2000) (26%), Kooli and Meknassi (2007) (45%), and Jain and Kini (2008) (35%).…”

Section: Literature Reviewmentioning

confidence: 99%

Survival of the Malaysian initial public offerings

Shari¹

2019

10.5267/j.msl

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This study addresses the extent to which Malaysian public listed firms survive after the IPO. The result reports that 7.72% of Malaysian IPOs were delisted from the market after five years, which is lower than the delisting rate reported in previous studies in developed markets. The delisting rate increased to 13.2% after seven years of listing. Further investigation shows that an unsatisfactory financial condition is the primary factor of failure. Comparison of the survival rate between the Main Market and the ACE market reveals that the cumulative survival rates over one through seven years after the IPO are consistently higher for the Main Market IPOs than the ACE Market IPOs, suggesting that the ACE Market IPOs have a higher probability to be delisted from the Market compared with the Main Market IPOs.

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Section: Literature Reviewmentioning

confidence: 99%

Survival of the Malaysian initial public offerings

Shari¹

2019

10.5267/j.msl

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“…More specifically, the literature suggests that the presence of VCs is likely to positively influence the SME export intensity (Brouthers and Nakos 2005;Loane, Bell, and McNaughton 2007). VC firms not only look for investing in SMEs that are most likely to succeed and assist them financially, but also foresee opportunities to add value to the venture in the postinvestment phase (Alexy et al 2012;Chou, Cheng, and Chien 2013). VCs perform an important governance function for their investees by providing management skills, experience, and expertise (Lockett et al 2008).…”

Section: Relationship Between External Financing and Export Activitiementioning

confidence: 99%

External Financing, Export Intensity and Inter-Organizational Collaborations: Evidence from Canadian SMEs*

St‐Pierre

Sakka

Bahri³

2018

Journal of Small Business Management

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Drawing on institutional theory, resource‐based perspective and internationalization theory, we propose that the domestic collaborations of small and medium‐sized enterprises (SMEs) have a direct positive effect on their export intensity, as well as an indirect effect through enhancing these firms' access to external financing. We test our hypotheses on a sample of 151 Canadian manufacturing SMEs and find partial support for the indirect relationship. Overall, our results suggest that domestic collaborations positively affect SMEs' access to equity financing but not to bank financing. While both equity and bank financing are found to enhance these firms' export intensity, bank financing seems to have a greater impact. The implications of these results are discussed.

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“…In this respect, the way in which the entrepreneur is perceived within the society encourages this kind of initiatives in the individuals. Additionally, it is also found that the entrepreneur's prestige not only encourages the entrepreneurial activity but also its survival across time (Chou et al, 2013). In this regard, Warnecke (2014) has argued that the design of some public policies dealing with entrepreneurship explained their efficacy.…”

Section: Theoretical Framework: Institutional Economics and Entreprenmentioning

confidence: 99%

Institutional determinants of student employer entrepreneurs at Catalan universities

Urbano

Aparicio

Guerrero

et al. 2017

Technological Forecasting and Social Change

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Additional information:Use policyThe full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal research or study, educational, or not-for-prot purposes provided that:• a full bibliographic reference is made to the original source • a link is made to the metadata record in DRO • the full-text is not changed in any way The full-text must not be sold in any format or medium without the formal permission of the copyright holders.Please consult the full DRO policy for further details. AbstractThis article investigates the influence of informal and formal institutions on the university students' decision of becoming employer entrepreneurs in the context of Catalonia. A sample of 1,207 students from the Universitat Autònoma de Barcelona (UAB) and the Universitat Oberta de Catalunya were surveyed for the period of 2012-2015, and probit regressions over pooled data were used. The main findings suggest that formal factors (university's lack of incentives to create a new business, entrepreneurial knowledge, training and skills, and entrepreneurship education) are higher correlated with the student employer entrepreneurs than informal institutions (role models, entrepreneur's social image and fear of failure). Despite that the entrepreneur's social image does not seem to have an influence on the entrepreneurial decision of university students, the other variables analysed are statistically significant, correlated with entrepreneurship as a choice. Specifically, entrepreneurship education is the most relevant variable in explaining the decision of university students becoming employer entrepreneurs. The paper contributes with policy discussions in order to extend the current debate about the role of the universities in the entrepreneurial process and also the importance of entrepreneurial universities to the society.2

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How useful is venture capital prestige? Evidence from IPO survivability

Cited by 48 publications

References 54 publications

Survival of the Malaysian initial public offerings

Survival of the Malaysian initial public offerings

External Financing, Export Intensity and Inter-Organizational Collaborations: Evidence from Canadian SMEs*

Institutional determinants of student employer entrepreneurs at Catalan universities

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