کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
1014657 939391 2006 9 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Structuring deals and governance after the IPO: Entrepreneurs and venture capitalists in high tech start-ups
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
پیش نمایش صفحه اول مقاله
Structuring deals and governance after the IPO: Entrepreneurs and venture capitalists in high tech start-ups
چکیده انگلیسی

In an effort to better understand the effects of venture capital investment on selected firm governance and financing structures, we examined the post-IPO experiences of 190 biotechnology and healthcare firms (see appendix). Our study revealed that in virtually all cases, the involvement of venture capitalists reduced the role of the founder-entrepreneur in strategic decision making. This was illustrated by the larger proportion of outside directors when venture capitalists invested and the smaller proportion of entrepreneurs who remained officers or in board positions after the IPO. We also found that venture capitalists rarely invested alone, and preferred to structure deals in which venture capital partners share both risks and rewards.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Business Horizons - Volume 49, Issue 4, July–August 2006, Pages 303–311
نویسندگان
, , ,