IPOs, Acquisitions and the Use of Convertible Securities in Venture Capital

By Thomas F. Hellmann. 2006

299 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/2e743a04c1bd8e5a5c5d03954d64ab50cd90ed98

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Citations in the corpus

The role of venture capital in the emerging entrepreneurial finance ecosystem: future threats and opportunities (2019, background): “According to pecking order theory, after the choice of internal financing represented by the “insider seed money” coming from the entrepreneurs and the “family and friends tranche”, venture capital has – since its origins in the aftermath of the end of World War II – been the dominant source of earl”
A theory of strategic venture investing (2002, background): “Admati and Pfleiderer (1994), Bergl .of (1994), Cornelli and Yosha (1997), Hansen (1991), Hellmann (2001), Marx (1998), Schmidt (1999), or Trester (1998) discuss this question.”
Innovation And Venture Capital Exits (2004, unknown): “19 Typically, shares other than common shares are automatically converted prior to an IPO (Hellmann, 2006), primarily as a way of cleaning up the balance sheet.”
Preplanned Exit Strategies in Venture Capital (2008, background): “These results provide a unique test and strong supporting evidence of theories linking exit to contract formation (Aghion and Bolton, 1992; Berglöf, 1994; Black and Gilson, 1998; Bascha and Walz, 2001; Hellmann, 2006), as described in section 2.”
IPOs versus Acquisitions and the Valuation Premium Puzzle: A Theory of Exit Choice by Entrepreneurs and Venture Capitalists (2011, unknown): “…capital: See, for example, Fulghieri and Sevilir (2009a), who study a private firm’s choice between alternative sources of venture capital, and Hellmann (2006), who demonstrates that the use of convertible securities in venture capital financing allows the implementation of the ex ante…”
Investment, Duration, and Exit Strategies for Corporate and Independent Venture Capital‐Backed Start‐Ups (2015, unknown): “they are competitors in the same industry).(18) In addition, we control for both syndicate size (i.”
Convertible Securities and Venture Capital Finance (2003, unknown): “See Hellmann (2000) for an interesting explanation of why participating convertible preferred securities might be used if there is a con ict of interest about the exit channel between E and VC. 18A similar argument is made in di erent contexts by Bolton and Scharfstein (1996) and L ulfesmann (2001).”
Who are the active investors? Evidence from venture capital (2008, background): “[41] Hellmann, Thomas (2006) ’IPOs, acquisitions, and the use of convertible securities in venture capital,’ Journal of Financial Economics, forthcoming.”