The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Venture Capital Distributions: Short‐Run and Long‐Run Reactions
Abstract
Venture capital distributions, a legal form of insider trading, provides an ideal arena for examining the share price impact of transactions by informed parties. These sales, which occur after substantial run‐ups in share value, generate a substantial price reaction immediately around the event. In the months after distribution, returns apparently continue to be negative. When the short‐ and long‐run reactions are decomposed, they are consistent with the view that venture capitalists use inside information to time stock distributions: Distributions of firms brought public by lower quality underwriters and of less seasoned firms have more negative price reactions.
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Citations
Cites
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
Cited by
Investor Psychology and Asset Pricing
(2001) · The Journal of Finance · doi:10.1111/0022-1082.00379 · Cited by 2,357
Financial intermediation as a beliefs-bridge between optimists and pessimists
Coval, J. D., & Thakor, A. V. (2005) · Journal of Financial Economics · doi:10.1016/j.jfineco.2004.02.005 · Cited by 329
Metadata
- Authors
- Gompers, P., & Lerner, J.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 1998-12
- Volume
- 53
- Issue
- 6
- Pages
- 2161-2183
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2158321859
- Cited by
- 313
- References
- 1
- FWCI
- 16.26
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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