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The role of underwriter peer networks in IPOs

Chuluun, Tuugi - In: Journal of Banking & Finance 51 (2015) C, pp. 62-78

This study examines how various aspects of underwriter peer network affect IPOs. We use different network measures to … network partners. Our results show that IPOs underwritten by book managers with more central and cohesive networks and … underprice more. These results indicate that underwriters use peer networks to produce information and place securities, and …

Persistent link: https://www.econbiz.de/10011194179

Contractual Execution, Strategic Incompleteness and Venture Capital

Dessí, Roberta - C.E.P.R. Discussion Papers - 2009

Contractual execution generates hard information, available to the contracting parties, even when contracts are secretly executed. Building on this simple observation, the paper shows that incomplete contracts can be preferred to complete contracts. This is because (i) execution of incomplete...

Persistent link: https://www.econbiz.de/10004976792

Venture Capital and Knowledge Transfer

Dessí, Roberta; Yin, Nina - C.E.P.R. Discussion Papers - 2015

This paper explores a new role for venture capitalists, as knowledge intermediaries. A venture capital investor can communicate valuable knowledge to an entrepreneur, facilitating innovation. The venture capitalist can also communicate the entrepreneur's innovative knowledge to other portfolio...

Persistent link: https://www.econbiz.de/10011168896

Innovation, Spillovers and Venture Capital Contracts

Dessí, Roberta - C.E.P.R. Discussion Papers - 2012

Innovative start-ups and venture capitalists are highly clustered, benefiting from localized spillovers: Silicon Valley is perhaps the best example. There is also substantial geographical variation in venture capital contracts: California contracts are more 'incomplete'. This paper explores the...

Persistent link: https://www.econbiz.de/10011084393

Venture Capital and Knowledge Transfer

Dessi, Roberta; Yin, Nina - Institut d'Économie Industrielle (IDEI), Toulouse … - 2015

Persistent link: https://www.econbiz.de/10011189076

Venture Capital and Knowledge Transfer

Dessi, Roberta; Yin, Nina - Toulouse School of Economics (TSE) - 2015

Persistent link: https://www.econbiz.de/10011189158

Vertical Integration and Fuel Diversity in Electricity Generation – a theoretical study in imperfect competition

Fristrup, Peter; Klinge Jacobsen, Henrik - Volkswirtschaftliche Fakultät, … - 2005

This paper contains an analysis of stylised natural gas and electricity supply sectors. Power plants operate either on natural gas or on a competing fuel – e.g. oil. The competing fuel is assumed to be traded at world market price whereas natural gas is sold by a national monopoly. The paper...

Persistent link: https://www.econbiz.de/10011258577

Oligopoly Intermediation, Relative Rivalry, and the Mode of Competition

Hamilton, Stephen; Bontems, Philippe; Lepore, Jason - Toulouse School of Economics (TSE) - 2013

of oligopoly intermediation that reveals the mode of competition to be an equilibrium outcome that depends on the …

Persistent link: https://www.econbiz.de/10010740003

Institutional Authority and Collusion

Sonntag, Axel; Zizzo, Daniel John - School of Economics, University of East Anglia - 2014

A `collusion puzzle' exists by which, even though increasing the number of firms reduces the ability to tacitly collude, and leads to a collapse in collusion in experimental markets with four or more firms, in natural markets there are such numbers of firms colluding successfully. We present an...

Persistent link: https://www.econbiz.de/10010890959

Oligopoly Intermediation, Relative Rivalry, and the Mode of Competition

Hamilton, Stephen; Bontems, Philippe; Lepore, Jason - Institut d'Économie Industrielle (IDEI), Toulouse … - 2013

of oligopoly intermediation that reveals the mode of competition to be an equilibrium outcome that depends on the …

Persistent link: https://www.econbiz.de/10010898237