Moving from Private to Public Ownership: Selling Out to Public Firms versus Initial Public Offerings

By Annette B. Poulsen, Mike Stegemoller. 2008

148 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/e952f54c375a439e7c0efb4aa8273fee46d62c94

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Citations in the corpus

Financial Wealth, Socioemotional Wealth, and IPO Underpricing in Family Firms: A Two-stage Gamble Model (2017, background): “…firm to IPO sell some of their equity to satisfy their respective liquidity and capital demands, but continue to manage the firm after the IPO, whereas entrepreneurs who sell their firm to a private acquirer also give up control of the firm (Bayar & Chemmanur, 2012; Poulsen & Stegemoller, 2008).”
IPOs versus Acquisitions and the Valuation Premium Puzzle: A Theory of Exit Choice by Entrepreneurs and Venture Capitalists (2011, unknown): “Evidence supporting this prediction is provided by Poulsen and Stegemoller (2008), Bayar and Chemmanur (2009), and Chemmanur et al. (2009).”
Investment, Duration, and Exit Strategies for Corporate and Independent Venture Capital‐Backed Start‐Ups (2015, unknown): “Other characteristics of a start-up are also important for the choice of the exit route (see Brau et al., 2003; Poulsen and Stegemoller, 2008; Bayar and Chemmanur, 2011, 2012; Chemmanur et al., 2012).”
Equilibrium in the Initial Public Offerings Market (2011, background): “Poulsen and Stegemoller (2008), Aslan and Kumar (2010, 2011), and Bayar and Chemmanur (2011) analyze this choice, with Bayar and Chemmanur emphasizing that an independent firm must fend for itself in the product market.”
Making sense of entrepreneurial exit strategies: A typology and test (2015, background): “When a firm is acquired, another firm (often a public firm) purchases all of the outstanding shares (Poulsen and Stegemoller, 2008), making it more likely that the entrepreneur can harvest more (or all) of his or her investment.”
Venture Capital Conflicts of Interest: Evidence from Acquisitions of Venture-Backed Firms (2010, unknown): “…and Weiss (1991), Brav and Gompers (1997), and Li and Masulis (2008) provide evidence on VC certification in initial public offerings, while Poulsen and Stegemoller (2008) show that VC backing is an important positive predictor of companies going public in a sample of IPOs and acquisitions.”
Family Control of Firms and Industries (2010, background): “…industries, of which 11,854 segments from 254 industries (and 8,093 firms) are at the three-digit level and 76 segments from five 4 Studies of the going-public decision have found that firms’ listing choices are often clustered by industry (Corwin and Harris, 2001; Poulsen and Stegemoller, 2008).”
What do we really mean when we talk about ‘exit’? A critical review of research on entrepreneurial exit (2014, unknown): “Poulsen and Stegemoller (2008) compared more than 1700 IPOs and acquisitions, and discovered that firm characteristics, growth levels, valuation ratios, capital constraints, intangible assets and venture capital differentiate among these two types of exit.”