The Admission and Regulation of Overseas Issuers: A Survey of the Top Four Financial Centers
Horace Yeung
This chapter examines the potential discrepancies in the regulation applied to overseas issuers, as opposed to domestic issuers, of four leading financial centers. They are New York, ...
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Advances in Cost Frontier Analysis of the Firm
C.A. Knox Lovell and Emili Grifell-Tatjé
We study various analytical frameworks relating productivity change to change in the cost structure and cost efficiency of the firm. We begin by motivating a focus on the cost side, and not ...
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All Ties Are Not Created Equal: Institutional Equity Ties, IPO Performance, and Market Growth of New Ventures
Yong Li and Beiqing Yao
This chapter examines whether and how different types of institutional ties affect new venture performance at different organizational stages. The authors propose that equity ties to ...
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Alternative Types Of Entrepreneurial Finance
Armin Schwienbacher and Benjamin Larralde
This article discusses crowdfunding as an alternative way of financing projects, with a focus on small, entrepreneurial ventures. It first provides a description of crowdfunding and ...
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Asymmetric Information, Credit Market Condition, and Entrepreneurial Finance
Liang Han and Song Zhang
This article reviews literature on the important role played by asymmetric information in entrepreneurial finance from two perspectives: asymmetric information and relationship lending, and ...
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Auditor Selection and IPO Underpricing
Miriam Koning
This chapter focuses on the selection of an audit firm by UK initial public offering (IPO) firms. It documents that many IPO firms switch to an audit firm in a different segment (big, ...
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The Capital Structure of Family Firms
Markus Ampenberger, Morten Bennedsen, and Haoyong Zhou
This article has two parts. The first part provides a brief literature review on existing theoretical and empirical research in the capital structure of family firms. It argues that there ...
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Combinatorial Auctions
David Porter, Stephen Rassenti, and David Munro
Traditional auctions struggle to achieve efficient allocations in multi-resource environments where individual resources are complements (the value of obtaining a package of items is worth ...
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Corporate Governance and Firm Performance
Anup Agrawal and Charles R. Knoeber
This paper reviews the literature on corporate governance and firm performance in economies with relatively dispersed stock ownership and an active market for corporate control, such as the ...
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Corporate Governance and Optimal Transparency
Tom Berglund
This chapter explores the link between corporate governance and transparency. It begins by discussing definitions of corporate governance and transparency and goes on to review the ...
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Corporate Governance in European IPOs
Fabio Bertoni, Michelle Meoli, and Silvio Vismara
Establishing effective corporate governance is most important at the time of an initial public offering (IPO), because the IPO represents a significant step by a company toward moving to ...
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Crowdfunding: Business and Regulatory Perspective
Alexandra Horváthová
Crowdfunding is a way of raising money through small contributions from a large number of investors, i.e. a “crowd.” Crowdfunding constitutes a common denominator for a number of financing ...
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The Dark Side of Venture Capital Syndication and IPO Firm Performance: The Impact of Different Institutional Environments
Salim Chahine, Igor Filatotchev, Robert E. Hoskisson, and Jonathan D. Arthurs
This chapter integrates agency research with an institutional perspective and investigates multiple agency conflicts in venture capital (VC) syndicates and their effect on stock-market ...
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Design and Implementation of Pay for Performance
Michael Gibbs
A large, mature and robust economics literature now provides a useful framework for understanding incentives. This chapter uses the lessons of that literature to discuss how to design and ...
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Determinants of Variation in IPO Underpricing
Thomas Boulton, Scott Smart, and Chad Zutter
From 1998 to 2014, average IPO underpricing at the country level ranged from 1.2% in Argentina to 69.7% in China. What factors account for the high variability of IPO underpricing in the ...
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Dispersed Ownership: The Theories, the Evidence, and the Enduring Tension between “Lumpers” and “Splitters”
John C. Coffee Jr.
This article argues that dispersed ownership resulted less from inexorable forces and more from private ordering. Neither legal nor political conditions mandated or prevented the appearance ...
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The Evolving Modern Theory of the Firm
Robert Maness and Steven N. Wiggins
This chapter examines the role played by firms in allocating resources in a modern economy, explaining when firms are superior to markets and the limits to firm size. The analysis begins by ...
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Factoring and Invoice Financing
Khaled Soufani
This article discusses the contribution of small and medium-size enterprises to the economy and the kind of financial environment they face, the notion of the finance gap faced by small ...
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Financial Capital among Minority-Owned Businesses
Robert W. Fairlie and Alicia Robb
This article examines the financing patterns of minority-owned businesses. It first reviews findings from the previous literature on financing constraints and related constraints faced by ...
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Financing the Business Firm
Leonce Bargeron and Kenneth Lehn
This chapter reviews the literature on the determinants of firms’ financing decisions and suggests fruitful areas for future research. We describe the tradeoff, pecking order, and market ...
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