Sorting things out: valuation of new firms in uncertain markets

By W. G. Sanders, Steven Boivie. 2004

581 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/2ceed8e99aa26b45392c6b6e06bb2f9fc3614889

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Citations in the corpus

Valuing University–Based Firms: The Effects of Academic Affiliation on IPO Performance (2011, background): “…level has considered a wide variety of characteristics that can serve as informative signals in markets laden with uncertainty, in particular focusing on how specific signals can reduce uncertainty about a firm’s quality and future prospects in the eyes of key stakeholders (Sanders & Boivie, 2004).”
The Signaling Effect of Corporate Social Responsibility in Emerging Economies (2016, background): “Intent concerns how to reduce the potential moral hazards that result from the behavior of the exchange parties (Holmstrom 1979; Sanders and Boivie 2004).”
IPO Research in Management and Entrepreneurship: Moving the Agenda Forward (2009, background): “Scholars have also examined the market valuation a firm achieves immediately before the offering (i.e., Cornelli, Goldreich, & Ljungqvist, 2006) or at the conclusion of first day of trading (Sanders & Boivie, 2004).”
Signaler Credibility, Signal Susceptibility, and Relative Reliance on Signals: How Stakeholders Change their Evaluative Processes After Violation of Expectations and Rehabilitative Efforts (2017, methodology): “We use signaling and screening theories (e.g., Connelly et al., 2011; Sanders & Boivie, 2004) to develop hypotheses about how one type of stakeholder—investors—alters themanner in which they utilize signals to value the firm’s stock price.”
Better Together? Signaling Interactions in New Venture Pursuit of Initial External Capital (2016, background): “One reason is that most new ventures suffer from substantial information asymmetry between the venture and potential investors (Sanders & Boivie, 2004; Wiklund, Baker, & Shepherd, 2010).”
Standing out from the crowd: the visibility-enhancing effects of IPO-related signals on alliance formation by entrepreneurial firms (2007, background): “…has typically focused on the effects signals have on financial outcomes at the time the signal appears, or concurrent with a significant event, such as a firm’s initial public offering (IPO) (e.g. Gulati and Higgins, 2003; Megginson and Weiss, 1991; Sanders and Boivie, 2004; Stuart et al., 1999).”
What signals matter for social startups? It depends: The influence of gender role congruity on social impact accelerator selection decisions (2019, methodology): “In support of this logic, equity investment has been widely used and accepted in the empirical literature on signaling as a credible signal of a firm’s economic potential (e.g., Gulati and Higgins, 2003; Higgins and Gulati, 2006; Pollock et al., 2010; Sanders and Boivie, 2004).”
Director Interlocks and Spillover Effects of Reputational Penalties From Financial Reporting Fraud (2008, background): “Signaling theory highlights the possibility that observable and normatively appropriate governance structures may assuage investors’ fear of ineffective governance in associated firms (Sanders & Boivie, 2004).”
The dynamic impact of innovative capability and inter-firm network on firm valuation: A longitudinal study of biotechnology start-ups (2010, background): “It is widely accepted that new venture valuation is rife with uncertainty primarily due to lack of historic records or verifiable claimsmade by new ventures (Sanders and Boivie, 2004; Stuart et al., 1999).”
How much prestige is enough? Assessing the value of multiple types of high-status affiliates for young firms (2010, background): “Signaling theory has been used in a wide variety of contexts, including labor markets (Spence, 1974; Turban and Cable, 2003), new product introductions (Akerlof, 1970), advertising (Nelson, 1974), and insider trading of stocks (Sanders and Boivie, 2004).”
How do threshold firms sustain corporate entrepreneurship? The role of boards and absorptive capacity (2009, background): “…chair's position, the existence of specialized committees on the board to carry out different functions, and the speedy dissemination of relevant information among directors are key determinants of board effectiveness (Johnson et al., 1996; Sanders and Carpenter, 2003; Sanders and Boivie, 2004).”