سال انتشار:
2020
عنوان انگلیسی مقاله:
An investigation of the attention effects of venture capitalist backing on entrepreneurial firms
ترجمه فارسی عنوان مقاله:
بررسی تأثیرات توجه پشتیبانی سرمایه داران خطرپذیر بر شرکت های کارآفرین
منبع:
Sciencedirect - Elsevier - Long Range Planning, Corrected Proof, 101995. doi:10.1016/j.lrp.2020.101995
نویسنده:
Roberto Ragozzinoa,∗, Dane P. Blevinsb
چکیده انگلیسی:
In this paper, we predict that venture capital (VC) backed initial public offerings (IPOs) will
attract more attention than non-VC-backed IPOs, as VCs offer important signals to investors
searching for information about entrepreneurial firms. We use a measure developed by Google
(i.e., Trends) to capture the spikes in investors attention experienced by firms in the time period
surrounding their IPOs. Our results demonstrate that firms backed by VCs enjoy a far greater
spike in attention than their counterparts. Furthermore, we find that firms with more prominent
VCs, a larger number of VCs, and VCs situated at farther geographic distances exhibit significantly
greater spikes in investors’ attention during the week of their IPO. Combined, the
findings show a clear demarcation between entrepreneurial firms with or without VC backing,
they bring to the fore new upshots stemming from the relationship between VCs and entrepreneurial
firms, and they raise new potential questions on this relationship and beyond.
Keywords: Entrepreneurship | VC | IPO | Google | Trends | Search | Signaling | Information economics
قیمت: رایگان
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