Trust as a governance mechanism of the relationship between venture capitalists and managers of venture capital-backed firms in Morocco

Ed‐Dafali, Slimane; Bouzahir, Brahim

doi:10.1080/19186444.2021.1911281

Cited by 11 publications

(3 citation statements)

References 93 publications

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“…A venture capitalist usually provides financial support to unlisted growth-oriented startups with great development potential, supplemented by management participation investment, to exit through IPOs, M&A, etc., and realize a high return on investment [22]. As one of the main exit channels of a VC, an IPO has always been a concern for academic circles.…”

Section: Literature Review and Research Hypothesismentioning

confidence: 99%

“…Thirdly, this paper broadens the research margin of the role of a VC in the IPO market. The existing research mainly focuses on the role of the VC in the listing performance of enterprises [17], such as the underpricing rate on the first day after listing, stock price volatility, excess return rate, corporate governance structure, performance change, and financial status [18][19][20][21][22][23], but there is little research on the role of the VC in the "game" between startups and regulators when applying for listing. From the perspective of resource allocation efficiency, this paper studies the influence of the VC on the IPO process of startups by comparing the registration system and the approval system and verifying the certification and supervision functions of the VC.…”

Section: Introductionmentioning

confidence: 99%

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Financial Market Sustainability in a Dual-Track System: Venture Capital and Startups’ Speed of Passing

Jiang

Wang

2023

Sustainability

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The government’s intervention under the approval system seriously affects the healthy and sustainable development of the financial market. An IPO is an important way for a venture capitalist (VC) to gain income, which impacts the efficiency of resource allocation in the capital market. From the perspective of resource allocation efficiency, this paper compares the influence of venture capital on the IPO process of startup enterprises under registration and approval systems. The findings are as follows: (1) after the trial registration system, the speed of passing and listing of VC-owned startup enterprises can be significantly accelerated. (2) Venture capitalists can accelerate the startup enterprises’ speed of passing by sending directors to startup enterprises and improving the level of risk disclosure, which is only significant under the registration and issuance system. (3) Further research shows that VC-supported startups perform better after listing. (4) VCs can help startup enterprises to choose hot season listing, which has a good timing effect. The conclusion of this text study is still robust after using propensity score matching (PSM) and Heckman to eliminate endogeneity. The conclusion of this study provides a theoretical basis and empirical support for emerging market countries to promote market-oriented reform.

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Section: Literature Review and Research Hypothesismentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Financial Market Sustainability in a Dual-Track System: Venture Capital and Startups’ Speed of Passing

Jiang

Wang

2023

Sustainability

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“…Similarly, Lucas and Sargent (1981) contended that individuals fail to accommodate the full logic of a decision by using adaptive rather than rational expectations. These systematic reasoning errors are called biases and types of biases are typically systematic and often described as "acting too hastily" (Slimane and Brahim, 2022). Conlisk (1996) provided evidence that these restrictions are behavioral regularities rather than fragile or easily disappearing effects.…”

Section: The Conceptual Framework Of Bounded Rationalitymentioning

confidence: 99%

An Empirical Study of the Role of Big Data Analytics in Corporate Decision Making

Shao

2023

Journal of Global Information Management

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Bounded rationality prevents firms from achieving their full potential. However, intelligent solutions can help eliminate bias in decision making. This study examines whether biases diminish or disappear when novel and powerful digital resources, such as big data analytics, are applied in management practice. The authors use a massive matched database of 1,942 large Chinese firms to find significant and positive effects of data processing frequency on high-level metrics of rational decision-making outcomes, such as productivity and profitability. Moreover, the increase in between-firm variance is the result of both differences in firm characteristics and a widening gap in their workflows and coordinating mechanisms. Heterogeneity can effectively explain 13.18% of the marginal effect of big data analytics on firm metrics, such as productivity and profitability. The results also indicate that the human capital of the C-suite partially mediates the link between big data analytics and firm performance.

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The Role of Venture Capital Firms in SME Internationalization: A Network Approach

Diego,

Díez Vial

2024

Networks and Foreign Markets

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Trust as a governance mechanism of the relationship between venture capitalists and managers of venture capital-backed firms in Morocco

Cited by 11 publications

References 93 publications

Financial Market Sustainability in a Dual-Track System: Venture Capital and Startups’ Speed of Passing

Financial Market Sustainability in a Dual-Track System: Venture Capital and Startups’ Speed of Passing

An Empirical Study of the Role of Big Data Analytics in Corporate Decision Making

The Role of Venture Capital Firms in SME Internationalization: A Network Approach

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