Founders, Private Equity Investors, and Underpricing in Entrepreneurial IPOs

By Garry D. Bruton, Salim Chahine, Igor Filatotchev. 2009

163 citations recorded by the source corpus.

Subfields: Accounting, Management of Technology and Innovation

View Paper: https://www.semanticscholar.org/paper/252026e00b0a0c7faa7c50bbd596ed33c8b2d948

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In Accounting

In Management of Technology and Innovation

Citations in the corpus

A Review and Road Map of Entrepreneurial Equity Financing Research: Venture Capital, Corporate Venture Capital, Angel Investment, Crowdfunding, and Accelerators (2017, background): “Relatedly, considering the investee organization, Bruton et al. (2010) demonstrate that angel investors provide “value-enhancing effects” that are manifest in IPO performance (Bruton, Chahine, & Filatotchev, 2009).”
Impact of founder experience on exit intentions (2012, background): “There is also a significant body of literature which examines the presence of the founder in both acquisitions and IPOs, but again the focus in this literature has been on how their presence affects price, IPO valuation, or underpricing (e.g., Bruton et al. 2009; Daily et al. 2003) rather than vie”
Does acquiring venture capital pay off for the funded firms? A meta-analysis on the relationship between venture capital investment and funded firm financial performance (2013, background): “, 1998), prior literature generally characterizes VCs as institutional (Bessler and Kurth, 2007), formal (Bruton et al., 2009), and professional investors (da Silva Rosa et al.”
Valuing University–Based Firms: The Effects of Academic Affiliation on IPO Performance (2011, background): “For them, who can be referred to as “paper millionaires” until the stock market flotation, the IPO provides an opportunity to obtain cash from their entrepreneurial ventures (Bruton et al., 2009).”
Toward a “theoretical toolbox” for sustainability research in marketing (2011, background): “Scholars have investigated how firms use retained ownership to signal firm value, product aesthetics to signal product quality, and top management team prestige to signal firm quality, among others (Bruton et al. 2009; Lampel and Shamsie 2000).”
The role of venture capital in the emerging entrepreneurial finance ecosystem: future threats and opportunities (2019, background): “…first access the informal investors and then seek equity capital from formal investors, but with the angels remaining in the investee companies, although with a reduced equity holding (Schwienbacher 2009; Bruton, Chahine, and Filatotchev 2009; Chemmanur and Chen 2014; Hellman and Thiele 2015).”
The Use of Signals in New-Venture Financing: A Review and Research Agenda (2021, background): “Since most existing literature emphasizes factors such as commitment (Bruton et al., 2009), age (Mitteness et al., 2012), and type of investor (Ebbers & Wijnberg, 2012), little scholarly attention has been paid to aspects that may be more directly related to the signal interpretation of prospective…”
Real and accrual earnings management and IPO failure risk (2015, background): “stantial cash return on their investment in the firm, whether financial or through time and effort in building and growing a successful firm (Bruton et al. 2009).”