| dc.contributor.author | Bruton G.D. |
| dc.contributor.author | Filatotchev I. |
| dc.contributor.author | Chahine S. |
| dc.contributor.author | Wright M. |
| dc.contributor.editor | |
| dc.date | 2010 |
| dc.date.accessioned | 2017-09-07T07:51:20Z |
| dc.date.available | 2017-09-07T07:51:20Z |
| dc.date.issued | 2010 |
| dc.identifier | 10.1002/smj.822 |
| dc.identifier.issn | 1432095 |
| dc.identifier.uri | http://hdl.handle.net/10938/12089 |
| dc.description.abstract | This paper examines performance effects of ownership concentration and two types of private equity investors (venture capitalists and business angels) in firms that have recently undergone an initial public offering (IPO) in the United Kingdom and France. We expand and contextualize nascent understanding of multiple agency theory by examining heterogeneity of private equity investors and by suggesting that multiple agency relationships are affected by different institutional contexts. We employ a unique, hand-collected dataset of 224 matched IPOs (112 in each country). Controlling for the endogeneity of private equity investors' retained share ownership, we find support for the agency theory argument that concentrated ownership improves IPOs' performance. The research also shows that the two types of private equity investors have a differential impact on performance, and the legal institutions in a given country moderate this impact. Copyright © 2009 John Wiley and Sons, Ltd. |
| dc.format.extent | |
| dc.format.extent | Pages: (491-509) |
| dc.language | English |
| dc.publisher | CHICHESTER |
| dc.relation.ispartof | Publication Name: Strategic Management Journal; Publication Year: 2010; Volume: 31; no. 5; Pages: (491-509); |
| dc.source | Scopus |
| dc.title | Governance, ownership structure, and performance of IPO firms: The impact of different types of private equity investors and institutional environments |
| dc.type | Article |
| dc.contributor.affiliation | Bruton, G.D., Neeley School of Business, Texas Christian University, Fort Worth, TX 76129, United States |
| dc.contributor.affiliation | Filatotchev, I., Sir John Cass Business School, City University London, London, United Kingdom |
| dc.contributor.affiliation | Chahine, S., Olayan School of Business, American University of Beirut, Beirut, Lebanon |
| dc.contributor.affiliation | Wright, M., Centre for Management Buy-out Research, Nottingham University Business School, Nottingham, United Kingdom, EMLyon, FRA, France |
| dc.contributor.authorAddress | Bruton, G. D.; Neeley School of Business, Texas Christian University, Fort Worth, TX 76129, United States; email: g.bruton@tcu.edu |
| dc.contributor.authorCorporate | University: American University of Beirut; Faculty: Suliman S. Olayan School of Business; Department: School of Business; |
| dc.contributor.authorDepartment | School of Business |
| dc.contributor.authorDivision | |
| dc.contributor.authorEmail | g.bruton@tcu.edu |
| dc.contributor.faculty | Suliman S. Olayan School of Business |
| dc.contributor.authorInitials | Bruton, GD |
| dc.contributor.authorInitials | Filatotchev, I |
| dc.contributor.authorInitials | Chahine, S |
| dc.contributor.authorInitials | Wright, M |
| dc.contributor.authorOrcidID | |
| dc.contributor.authorReprintAddress | Bruton, GD (reprint author), Texas Christian Univ, Neeley Sch Business, Ft Worth, TX 76129 USA. |
| dc.contributor.authorResearcherID | |
| dc.contributor.authorUniversity | American University of Beirut |
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| dc.description.citedCount | 55 |
| dc.description.citedTotWOSCount | 43 |
| dc.description.citedWOSCount | 43 |
| dc.format.extentCount | 19 |
| dc.identifier.articleNo | |
| dc.identifier.coden | SMAJD |
| dc.identifier.scopusID | 77952172617 |
| dc.publisher.address | THE ATRIUM, SOUTHERN GATE, CHICHESTER PO19 8SQ, W SUSSEX, ENGLAND |
| dc.relation.ispartOfISOAbbr | Strateg. Manage. J. |
| dc.relation.ispartOfIssue | 5 |
| dc.relation.ispartofPubTitle | Strategic Management Journal |
| dc.relation.ispartofPubTitleAbbr | Strategic Manage J |
| dc.relation.ispartOfVolume | 31 |
| dc.source.ID | WOS:000276286700002 |
| dc.type.publication | Journal |
| dc.subject.otherAuthKeyword | Agency Theory |
| dc.subject.otherAuthKeyword | Business Angel |
| dc.subject.otherAuthKeyword | Institutional Theory |
| dc.subject.otherAuthKeyword | Legal Institutions |
| dc.subject.otherAuthKeyword | Venture Capital |
| dc.subject.otherIndex | Agency Theory |
| dc.subject.otherIndex | Contextualize |
| dc.subject.otherIndex | Data Sets |
| dc.subject.otherIndex | Endogeneity |
| dc.subject.otherIndex | Initial Public Offerings |
| dc.subject.otherIndex | Institutional Theory |
| dc.subject.otherIndex | Ownership Structure |
| dc.subject.otherIndex | Performance Effect |
| dc.subject.otherIndex | Private Equity |
| dc.subject.otherIndex | United Kingdom |
| dc.subject.otherIndex | Venture Capital |
| dc.subject.otherIndex | Venture Capitalists |
| dc.subject.otherIndex | Societies and Institutions |
| dc.subject.otherIndex | Investments |
| dc.subject.otherKeywordPlus | Initial Public Offerings |
| dc.subject.otherKeywordPlus | Venture Capital Industry |
| dc.subject.otherKeywordPlus | Corporate Governance |
| dc.subject.otherKeywordPlus | Emerging Economies |
| dc.subject.otherKeywordPlus | Board Composition |
| dc.subject.otherKeywordPlus | Weak Instruments |
| dc.subject.otherKeywordPlus | Market |
| dc.subject.otherKeywordPlus | Certification |
| dc.subject.otherKeywordPlus | Perspective |
| dc.subject.otherKeywordPlus | Strategies |
| dc.subject.otherWOS | Business |
| dc.subject.otherWOS | Management |
| dc.identifier.doi | http://dx.doi.org/10.1002/smj.822 |
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