This paper examines the timing of initial public offerings and private placements
by venture-backed companies. Using a sample of 187 venture-backed IPOs and private
placements in a variety of industries between 1991 and 2000 over TSEC and OTC,
we find that these companies go public when equity valuationsare high and employ
private placements when values are lower. Seasoned venture capital appears to
take firms public when industrial equity valuations are higher than their less
experienced counterparts. The results are robust to differential specifications of
control variables.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0704101-172030 |
| Date | 04 July 2001 |
| Creators | Chan, Ju-Wang |
| Contributors | Chris Liao, Anlin Chen, Henry Y. Lo |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0704101-172030 |
| Rights | unrestricted, Copyright information available at source archive |
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