Stage Financing and the Role of Convertible Securities

By Francesca Cornelli, Oved Yosha. 2003

453 citations recorded by the source corpus.

Subfields: Accounting, Management Science and Operations Research

View Paper: https://www.semanticscholar.org/paper/57a6d553d4507353d964457cbba648fbbad7014d

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Citations in the corpus

Staged Financing in Venture Capital: Moral Hazard and Risks (2003, unknown): “For discussion of some of these issues, see some recent theoretical papers on venture capital such as Hellmann (1998), Marx (1998), Cornelli and Yosha (2001), Dessi (2001) and Schmidt (2002).”
Venture Capital Performance: the Disparity Between Europe and the United States (2009, background): “…usually seen as actively involved relationship investors, and their monitoring role and the ensuing double agency problems have been emphasized by Schmidt (2003) and Cornelli and Yosha (2003), Repullo and Suarez (2004), among others, a view supported in empirical studies (Gompers and Lerner, 1999).”
Institutions and Venture Capital (2013, background): “They use detailed screening processes to generate information about the firm and the entrepreneur (Chan, 1983), they make use of financial contracts such as requiring preferred stock and imposing restrictive covenants (Kaplan and Strömberg, 2004), they stage funding (Admati and Pfleider, 1994), and ”
The Financing of R&D and Innovation (2009, unknown): “The improvement in efficiency might be due to the active monitoring and advice that is provided (Cornelli and Yosha, 2003; Hellmann, 1998; Marx, 1994), the screening mechanisms employed (Chan, 1983), the incentives to exit (Berglöf, 1994), the proper syndication of the investment (Admati and…”
The role of venture capital in the emerging entrepreneurial finance ecosystem: future threats and opportunities (2019, background): “…and Hege 1998; Kaplan and Stromberg 2003; Cumming and Johan 2013), implementation of the staged investing mechanism (Sahlman 1990; Bergemann and Hege 1998; Cornelli and Yosha 2003), the syndication of investments (Lerner 1994; Filatotchev, Wright, and Arberk 2006; Manigart et al. 2006; Tian…”
Preplanned Exit Strategies in Venture Capital (2008, unknown): “Consistent with theoretical work on the importance of bilateral moral hazard in shaping VC contracts (Casamatta, 2003; Schmidt, 2003; Cornelli and Yosha, 2003; see also Hsu, 2004, for somewhat related empirical evidence showing more sophisticated investors obtain better deal prices), we expect more…”
Information asymmetries, agency costs and venture capital exit outcomes (2008, unknown): “…wisdom put forth by more than 20 years of academic research (see e.g. Bascha and Walz 2001; Berglöf 1994; Bergmann and Hege 1998; Casmatta 2003; Cornelli and Yosha 2003; Gompers 1998; Gompers and Lerner 2001a,b; Hellmann 1998; Kaplan and Strömberg 2003; Marx 1998; Sahlman 1990; Schmidt 2003;…”