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This study investigates the key determinants of the size of investment in Russian IT companies during follow-on rounds … hypothesis proposed by the authors (about impact of the number of founders on the investment in subsequent rounds) as well as … hypothesis about the impact of target market growth on the investment size are also rejected. The latter is surprising as the …
Persistent link: https://www.econbiz.de/10012921063
This study investigates the key determinants of the size of investment in Russian IT companies during follow-on rounds … hypothesis proposed by the authors (about impact of the number of founders on the investment in sub-sequent rounds) as well as … hypothesis about the impact of target market growth on the investment size are also rejected. The latter is surprising as the …
Persistent link: https://www.econbiz.de/10012891309
I extend Jensen and Meckling 1976 (“JM”) to show that the change in the firm's performance from the decision on who manages is composed of 1) JM's management agency costs and 2) skill differential agency cash flows: the difference between the owner and the firm's alternate manager in...
Persistent link: https://www.econbiz.de/10013114068
We study the role of a company founder in its internal governance. Using a sample of 484 CEO turnovers for 2000-2015, we establish that CEOs are red for poor performance. However, the likelihood of a poor-performing founder-CEO being fi red is lower than that of an outsider CEO. Moreover, having...
Persistent link: https://www.econbiz.de/10012894964
We make use of hand-collected data on a large sample of entrepreneurial firms to analyze the effect of venture capital (VC) backing on the management quality of firms going public and the effect of both VC-backing and management quality on IPO variables. We hypothesize that VC-backing will be...
Persistent link: https://www.econbiz.de/10012975387
Founder-CEOs invest more in R&D projects. My findings suggest this is an over- investment problem since founder …
Persistent link: https://www.econbiz.de/10013057195
Persistent link: https://www.econbiz.de/10012792484
Persistent link: https://www.econbiz.de/10014634365
Technology-based start-ups operate in high-velocity environments that make considerable demands on the comprehensiveness and speed of strategic choices. This study argues that characteristics of top management team (TMT) organization as well as TMT processes, namely debate and trust,...
Persistent link: https://www.econbiz.de/10012779279
Persistent link: https://www.econbiz.de/10014389055