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Governanace and performance of IPOs: The impact of private equity investors and legal institutions

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dc.contributor.author Filatotchev I.
dc.contributor.author Bruton G.
dc.contributor.author Chahine S.
dc.contributor.author Wright M.
dc.contributor.editor
dc.date 2007
dc.date.accessioned 2017-09-07T07:51:40Z
dc.date.available 2017-09-07T07:51:40Z
dc.date.issued 2007
dc.identifier
dc.identifier.isbn
dc.identifier.issn
dc.identifier.uri http://hdl.handle.net/10938/12285
dc.description.abstract Although agency theory argues that there is a direct relationship between ownership patterns and performance, the empirical evidence to date has been mixed. However, previous studies have focused on samples of large mature firms in a single country. Combining agency and institutional perspectives, this paper examines performance effects of two types of private equity investors (venture capitalists and business angels) and ownership concentration in firms that have recently undergone an IPO in the UK and France. Using a unique, hand-collected dataset of 242 matched IPOs in the two countries, it argues that legal institutions can moderate the effects of different types of owners and ownership concentration on performance. Our findings support the argument that concentrated ownership impacts performance, but this effect is stronger in France. Second, it is shown that the two types of private equity investors have a differential impact on performance, but this impact is found to be influenced by the legal institutions in the given country.
dc.format.extent
dc.language English
dc.relation.ispartof Publication Name: Academy of Management 2007 Annual Meeting: Doing Well by Doing Good, AOM 2007; Conference Title: 67th Annual Meeting of the Academy of Management, AOM 2007; Conference Date: 3 August 2007 through 8 August 2007; Conference Location: Philadelphia, PA; Publication Year: 2007;
dc.relation.ispartofseries
dc.relation.uri
dc.source Scopus
dc.subject.other
dc.title Governanace and performance of IPOs: The impact of private equity investors and legal institutions
dc.type Conference Paper
dc.contributor.affiliation Filatotchev, I., King's College London, 150 Stamford Street, London SE1 9NN, United Kingdom
dc.contributor.affiliation Bruton, G., Texas Christian University, United States
dc.contributor.affiliation Chahine, S., American University, Beirut, Lebanon
dc.contributor.affiliation Wright, M., University of Nottingham, United Kingdom
dc.contributor.authorAddress Filatotchev, I.; King's College London, 150 Stamford Street, London SE1 9NN, United Kingdom; email: iaor.filatotchev@kcl.ac.uk
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
dc.contributor.authorFaculty Suliman S. Olayan School of Business
dc.contributor.authorInitials
dc.contributor.authorOrcidID
dc.contributor.authorReprintAddress
dc.contributor.authorResearcherID
dc.contributor.authorUniversity American University of Beirut
dc.description.cited
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dc.format.extentCount 1
dc.identifier.articleNo
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dc.identifier.pubmedID
dc.identifier.scopusID 84858429393
dc.identifier.url
dc.publisher.address
dc.relation.ispartofConference Conference Title: 67th Annual Meeting of the Academy of Management, AOM 2007 : Conference Date: 3 August 2007 through 8 August 2007 , Conference Location: Philadelphia, PA.
dc.relation.ispartofConferenceCode 88974
dc.relation.ispartofConferenceDate 3 August 2007 through 8 August 2007
dc.relation.ispartofConferenceHosting
dc.relation.ispartofConferenceLoc Philadelphia, PA
dc.relation.ispartofConferenceSponsor The Society for Human Resource Management;Drexel University, LeBow College of Business;Villanova University, School of Business;Temple University, Fox School of Business;University of St Andrews, School of Management
dc.relation.ispartofConferenceTitle 67th Annual Meeting of the Academy of Management, AOM 2007
dc.relation.ispartofFundingAgency
dc.relation.ispartOfISOAbbr
dc.relation.ispartOfIssue
dc.relation.ispartOfPart
dc.relation.ispartofPubTitle Academy of Management 2007 Annual Meeting: Doing Well by Doing Good, AOM 2007
dc.relation.ispartofPubTitleAbbr Acad. Manage. Annu. Meet.: Doing Well Doing Good, AOM
dc.relation.ispartOfSpecialIssue
dc.relation.ispartOfSuppl
dc.relation.ispartOfVolume
dc.source.ID
dc.type.publication Series
dc.subject.otherAuthKeyword IPO
dc.subject.otherAuthKeyword Legal institutions
dc.subject.otherAuthKeyword Venture capital
dc.subject.otherChemCAS
dc.subject.otherIndex Agency theory
dc.subject.otherIndex Data sets
dc.subject.otherIndex Empirical evidence
dc.subject.otherIndex Institutional perspective
dc.subject.otherIndex IPO
dc.subject.otherIndex Performance effect
dc.subject.otherIndex Private equity
dc.subject.otherIndex Venture capital
dc.subject.otherIndex Venture capitalists
dc.subject.otherIndex Industry
dc.subject.otherIndex Investments
dc.subject.otherIndex Societies and institutions
dc.subject.otherKeywordPlus
dc.subject.otherWOS


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