Venture capital, corporate governance, and financial stability of IPO firms

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題名:	Venture capital, corporate governance, and financial stability of IPO firms
作者:	盧佳琪;Liao, Woody M.;Lu, Chia-Chi;Wang, Hsuan
貢獻者:	管理學院會計研究所
關鍵詞:	Corporate governance;Developing countries;Economic theory;Economics;Emerging markets;Excess control;Finance;Financial stability;Initial public offerings;Investments;Securities analysis;Studies;Venture capital;Venture capital investments
日期:	2014-03-01
上傳時間:	2026-04-23 13:00:01 (UTC+8)
出版者:	Elsevier;Amsterdam: Elsevier B.V
摘要:	摘要： This study investigates the effects of venture capital investments on corporate governance and financial stability of IPO-firms in the emerging markets. We find that VC-backed firms have less agency problems related to excess control than non-VC-backed firms at the time of IPO, and venture capitalists are more likely to improve the excess control problem in firms with weak-governance-structure than those with strong-governance-structure. We also find that VC-backed firms are less likely to encounter financial difficulty than non-VC-backed firms. Taken together, VC investments play a role in mitigating excess control and providing positive financial stability in the emerging markets. 出版者： Amsterdam: Elsevier B.V 出版日期： 2014-03-01 出處： Emerging markets review, 2014-03, Vol.18, p.19-33 版權： 2013 Elsevier B.V. 版權： Copyright © 2014 Elsevier B.V. All rights reserved. 識別號： ISSN: 1566-0141 識別號： EISSN: 1873-6173 識別號： DOI: 10.1016/j.ememar.2013.11.002
顯示於類別:	[會計研究所 ] 期刊論文

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