IPOs, trade sales and liquidations: Modelling venture capital exits using survival analysis

By P. Giot, Armin Schwienbacher. 2007

320 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/46cb98c9a5f0b328b4ff83b1aaad658059e4d657

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Citations in the corpus

Investment, Duration, and Exit Strategies for Corporate and Independent Venture Capital‐Backed Start‐Ups (2015, unknown): “To measure the amount invested in a start-up, we add up the disclosed investment amounts across all rounds.(12) We define the duration before the exit as the difference in days between the start-up’s exit date (IPO date or acquisition date) and the date at which it received its first investment from”
Patents, Thickets and the Financing of Early-Stage Firms: Evidence from the Software Industry (2009, unknown): “Empirical analyses of exits via IPO include Lerner (1994), Gompers (1995), and more recently, Giot and Schwienbacher (2007) and Ljungqvist, Hochberg, and Lu (2007). Factors that have been found to influence the probability of going public include market conditions and industry-specific effects, the ”
A comparison of the effect of angels and venture capitalists on innovation and value creation (2016, background): “Similarly, Giot and Schwienbacher (2007) show that location proximity between the VC and the ventures helps VCs to better assist and monitor the venture.”
Exit Strategies in Family Firms: How Socioemotional Wealth Drives the Threshold of Performance (2013, unknown): “Research has demonstrated that these exits tend to include initial public offerings (IPOs) and trade sales (Giot & Schwienbacher, 2007), though an IPO is a rare strategy among small firms.”
Trademarks and Venture Capital Valuation (2014, unknown): “The likelihood of a trade sale to an established firm increases (Giot and Schwienbacher, 2007).”
The patterns of venture capital investment in Europe (2015, background): “Higher volumes of IPOs and M&As accelerate and improve exits for VC investors (Giot and Schwienbacher 2007; Bertoni and Groh 2014).”
Governmental venture capital in Europe: Screening and certification (2016, methodology): “We analyze the sample of GVC-backed companies and their matched “twins” with a semi-parametric Cox event-history type model (Cox 1972) that has been extensively used in the VC context (see, e.g., Chang 2004; Giot and Schwienbacher 2007; Bertoni and Groh 2014).”
Governmental and independent venture capital investments in Europe: a firm-level performance analysis (2017, background): “, 2010) and monitoring activities (Gompers, 1995; Lerner, 1995; Kanniainen and Keuschnigg, 2003, 2004; Wang and Zhou, 2004; Giot and Schwienbacher, 2007; Hege et al., 2009; Cressy et al., 2007; Dihiya and Ray, 2012).”
The Schumpeterian entrepreneur: a review of the empirical evidence on the antecedents, behaviour and consequences of innovative entrepreneurship (2017, unknown): “Exit by trade sale, M&A, and IPO are important exit options for innovative new ventures (Giot and Schwienbacher 2007; Wennberg et al. 2010; Arora and Nandkumar 2011; Henkel, Rønde, and Wagner 2015).”
Information asymmetries, agency costs and venture capital exit outcomes (2008, unknown): “The data indicate that VCs rush to IPO to take advantage of stronger market conditions, consistent with the US evidence in Giot and Schwienbacher (2007).”
The role of venture capital in the emerging entrepreneurial finance ecosystem: future threats and opportunities (2019, background): “This requires successive rounds of financing aimed at enabling the innovative companies to further develop the fruits of their previous R&D investments and to fine tune a feasible and competitive business model (“secondary funding gap”) (Hellmann and Puri 2000; Sohl 2007; Kerr and Nanda 2014; Kraeme”