Purpose – The purpose of this paper is to investigate how foreign and domestic investors differ in their beliefs about the relative merits of a firm's political connections. Design/methodology/approach - These differences are employed to explain cross-sectional variation in the previously...

Purpose – Exit strategies are critical for external private equity holders, such as venture capitalists and business angels, to receive investment returns successfully. The paper models the exit decision as a fixed date with the option to exit early, and develop an approach to help private...

We investigate how foreign involvement in the ownership of privately held entrepreneurial firms affects pollution fees levied by national and provincial governments in China (environmental levies). Because provincial governments have considerable control over environmental policies, differences...

Based on a sample of 539 angel investors, we empirically test the impact of new ventures resource acquisition/allocation strategies in different development stages on angels abnormal returns and their extremeness. Our exploratory findings suggest that at early stages of development, ventures...

This study explores how the ethnicity of small business owners affects the influences of family ownership on their willingness to borrow. While the willingness issue is fundamental in the literature on small business debt financing, it has been understudied. We introduce an indirect measure of...

The literature on corporate governance and entrepreneurial finance suggests that when lender–borrower relationships are of longer duration, they tend to be more successful in solving the informational asymmetry problems related to small business debt financing. Using the data from Canadian...

This study examines the effects of ultimate control and the political connections of top executives on firm's performance and the monitoring role played by boards of directors. It investigates whether the political influence of ownership and that of management are complements or substitutes in...

A firm's risk-taking behavior can have powerful implications for its employees and shareholders, and even surrounding communities. Corporate risk-taking may associate with firms' affiliation with the government and the incentives of their highest-ranking executives, rather than with strategic...

Modeling social tagging plays a critical role in identifying statistical regularities and structural principles common to social tagging systems. Existing modeling approaches only consider imitations or background knowledge of users. However, common interests among users are ignored. In this...