The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
Venture Capital and Corporate Governance in the Newly Public Firm
Open accessAbstract
I examine the effects of venture capital backing on the corporate governance of the entrepreneurial firm at the time of transition from private to public ownership. Using a selection model framework that instruments for venture backing with variations in the supply of venture capital, I conduct three sets of tests comparing corporate governance in venture- and non–venture-backed initial public offering (IPO) firms. Venture-backed firms have lower levels of earnings management, more positive reactions to the adoption of shareholder rights agreements, and more independent board structures than similar non–venture-backed firms, consistent with better governance. These effects are not common to all pre-IPO large shareholders.
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Citations
Cites
Sample Selection Bias as a Specification Error
Heckman, J. J. (1979) · Econometrica · doi:10.2307/1912352 · Cited by 28,779
Corporate Governance and Equity Prices
Gompers, P., Ishii, J., & Metrick, A. (2003) · The Quarterly Journal of Economics · doi:10.1162/00335530360535162 · Cited by 6,120
The role of venture capital in the creation of public companies
Barry, C. B., Muscarella, C. J., Peavy, J. W., & Vetsuypens, M. R. (1990) · Journal of Financial Economics · doi:10.1016/0304-405x(90)90064-7 · Cited by 1,167
Angel investors and the market for angel investments
Prowse, S. (1998) · Journal of Banking & Finance · doi:10.1016/s0378-4266(98)00044-2 · Cited by 197
Cited by
The Financing of R&D and Innovation
Hall, B., & Lerner, J. (2009) · National Bureau of Economic Research · doi:10.3386/w15325 · Cited by 648
Are institutional investors with multiple blockholdings effective monitors?
Kang, J.-K., Luo, J., & Na, H. S. (2018) · Journal of Financial Economics · doi:10.1016/j.jfineco.2018.03.005 · Cited by 412
Blurring Firm Boundaries: The Role of Venture Capital in Strategic Alliances
LINDSEY, L. (2008) · The Journal of Finance · doi:10.1111/j.1540-6261.2008.01354.x · Cited by 328
Whom You Know Matters: Venture Capital Networks and Investment Performance
Ljungqvist, A., Hochberg, Y. V., & Lu, Y. (2005) · SSRN Electronic Journal · doi:10.2139/ssrn.631941 · Cited by 287
Self-citation
Metadata
- Authors
- Hochberg, Y. V.
- Venue
- Review of Finance
- Publisher
- Oxford University Press (OUP)
- Published
- 2011-12-22
- Volume
- 16
- Issue
- 2
- Pages
- 429-480
- ISSN
- 1382-6662 (ISSN-L)
- 1573-692X
- 1572-3097
- OpenAlex
- W3122702439
- Cited by
- 311
- References
- 4
- FWCI
- 62.92
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
