Signaling Through Private Equity Placements and its Impact on the Valuation of Biotechnology Firms

By Jay J. Janney, Timothy B. Folta. 2003

226 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/b3b57041c9126c3a50f41114b4ef116ed4d99420

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Citations in the corpus

Quality Signals? The Role of Patents, Alliances, and Team Experience in Venture Capital Financing (2015, unknown): “7 signals are often sent intentionally, parties may also send signals without being aware of it (Janney and Folta, 2003; Spence, 2002).”
Founder's human capital, external investment, and the survival of new high-technology ventures (2010, background): “There are clear parallels with funding of entrepreneurial ventures, and signalling theory has been employed in this domain by many researchers (Elitzur and Gavious, 2003; Janney and Folta, 2003; Busenitz et al., 2005; Higgins and Gulati, 2006; Hsu, 2007; Kleer, 2008).”
The Use of Signals in New-Venture Financing: A Review and Research Agenda (2021, background): “Accordingly, future research could contribute to a largely ignored area of existing research (e.g., Janney & Folta, 2003) and advance our comprehensive understanding of signals and their effectiveness by integrating positive and negative message content.”
Which updates during an equity crowdfunding campaign increase crowd participation? (2016, unknown): “(Janney and Folta 2003, 2006; Block et al. 2014).”
R&D Subsidies as Dual Signals in Technological Collaborations (2019, background): “, patents, being more diversified), and frequent and repetitive signaling can accelerate the effectiveness of the signaling process (Janney and Folta, 2003; Balboa and Martí, 2007).”
Trademarks and Venture Capital Valuation (2014, unknown): “Signals can be sent intentionally or without the parties’ actually awareness (Janney and Folta, 2003; Spence, 2002).”
The dynamic impact of innovative capability and inter-firm network on firm valuation: A longitudinal study of biotechnology start-ups (2010, background): “…information that may reveal the quality of the venture including technological capabilities, corporate governance setup, private placements, and partnershipswith other firms among others (Chang, 2004; Deeds and Decarolis, 1997; Janney and Folta, 2003; Sanders and Boivie, 2004; Stuart et al., 1999).”
Signaling the Strategic Value of Knowledge (2004, background): “Janney and Folta (2003)showed private equity placements by knowledgeable participants acted as effective signals of the quality of a firm’s capabilities in the biotechnology industry.”
The role of information asymmetry in the choice of entrepreneurial exit routes (2014, background): “…goods exchanged can be reduced via signaling (the active conveyance of information by the knowledgeable party) and/or screening (the active seeking of additional information by the uninformed party) (Carpentier et al., 2010; Janney and Folta, 2003, 2006; Lee and Venkataraman, 2006; Stiglitz, 2000).”
Signaling Theory: A Review and Assessment (2011, background): “If signalers wish to remain differentiated, they will signal repetitively to keep reducing information asymmetry (Janney & Folta, 2003, 2006; Park & Mezias, 2005).”