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Original Articles

Agency Problems and the Performance of Venture-backed IPOs in Germany: Exit Strategies, Lock-up Periods, and Bank Ownership

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Pages 29-63 | Published online: 17 Feb 2007

Keep up to date with the latest research on this topic with citation updates for this article.

Read on this site (5)

Marina Balboa, José Martí & Álvaro Tresierra-Tanaka. (2017) Are firms accessing venture funding more financially constrained? New evidence from capital structure adjustments. The European Journal of Finance 23:3, pages 243-265.
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Wolfgang Bessler, Wolfgang Drobetz & Martin Seim. (2014) Share repurchases of initial public offerings: motives, valuation effects, and the impact of market regulation. The European Journal of Finance 20:3, pages 232-263.
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Wolfgang Bessler & Martin Seim. (2012) The performance of venture-backed IPOs in Europe. Venture Capital 14:4, pages 215-239.
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Ann-Kristin Achleitner, Christian Andres, André Betzer & Charlie Weir. (2011) Wealth effects of private equity investments on the German stock market. The European Journal of Finance 17:3, pages 217-239.
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Chih-Jen Huang, Ching-Hsiang Chao & Tsai-Ling Liao. (2010) The joint decision to signal through IPO underpricing and lockup. Applied Economics Letters 17:10, pages 955-961.
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Articles from other publishers (23)

Wolfgang Bessler & Reinhard H. Schmidt. 2022. Ideengeschichte der BWL II. Ideengeschichte der BWL II 271 306 .
Sahil Narang & Rudra P. Pradhan. (2021) IPO lock-up: a review and assessment. DECISION 48:3, pages 343-369.
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Gerasimos G. Rompotis. 2021. Linear and Non-Linear Financial Econometrics -Theory and Practice. Linear and Non-Linear Financial Econometrics -Theory and Practice.
Wolfgang Bessler, Johannes Beyenbach, Marc Steffen Rapp & Marco Vendrasco. (2021) The global financial crisis and stock market migrations: An analysis of family and non-family firms in Germany. International Review of Financial Analysis 74, pages 101692.
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Filipe Sardo, Zélia Serrasqueiro & Elisabete G.S. Félix. (2020) Does Venture Capital affect capital structure rebalancing? The case of small knowledge-intensive service firms. Structural Change and Economic Dynamics 53, pages 170-179.
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Andrea Signori. (2018) Zero-revenue IPOs. International Review of Financial Analysis 57, pages 106-121.
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Olimpia Meglio, Arabella Mocciaro Li Destri & Arturo Capasso. (2017) Fostering Dynamic Growth in New Ventures through Venture Capital: Conceptualizing Venture Capital Capabilities. Long Range Planning 50:4, pages 518-530.
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S. Ramakrishna Velamuri & Wilson Liu. (2016) Ownership structure, insider behavior, and IPO performance of SMEs in China. Small Business Economics 48:3, pages 771-793.
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Wolfgang BesslerColin Schneck. (2016) Securities Market Design and Stock Market Segments for Small Company Shares: Empirical Evidence from Initial Public Offerings in Germany. Zeitschrift für Bankrecht und Bankwirtschaft 28:6, pages 362-387.
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Wolfgang Bessler, Wolfgang Drobetz, Martin Seim & Jan Zimmermann. (2016) Equity Issues and Stock Repurchases of Initial Public Offerings. European Financial Management 22:1, pages 31-62.
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Wolfgang BesslerWolfgang Drobetz. (2015) Corporate Finance in Germany: Structural Adjustments and Current Developments. Journal of Applied Corporate Finance 27:4, pages 44-57.
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Lisa Jane Callagher, Peter Smith & Saskia Ruscoe. (2015) Government roles in venture capital development: a review of current literature. Journal of Entrepreneurship and Public Policy 4:3, pages 367-391.
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Michele Meoli, Andrea Signori & Silvio Vismara. (2015) Are IPO underwriters paid for the services they provide?. International Journal of Managerial Finance 11:4, pages 414-437.
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. 2014. Venture Capital and Private Equity Contracting. Venture Capital and Private Equity Contracting 729 756 .
Nina Rosenbusch, Jan Brinckmann & Verena Müller. (2013) Does acquiring venture capital pay off for the funded firms? A meta-analysis on the relationship between venture capital investment and funded firm financial performance. Journal of Business Venturing 28:3, pages 335-353.
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Wolfgang Bessler, Julian Holler, Martin Seim & Jan Zimmermann. 2012. The Oxford Handbook of Venture Capital. The Oxford Handbook of Venture Capital 627 667 .
Douglas CummingWolfgang Bessler, Julian Holler & Martin Seim. 2010. Private Equity. Private Equity 511 553 .
Wolfgang Bessler & Matthias Stanzel. (2009) Conflicts of Interest and Research Quality of Affiliated Analysts in the German Universal Banking System: Evidence from IPO Underwriting. European Financial Management 15:4, pages 757-786.
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Marc Goergen, Arif Khurshed & Luc Renneboog. (2009) Why are the French so different from the Germans? Underpricing of IPOs on the Euro New Markets. International Review of Law and Economics 29:3, pages 260-271.
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Wolfgang Bessler & Claudia Bittelmeyer. (2008) Patents and the performance of technology firms: Evidence from initial public offerings in Germany. Financial Markets and Portfolio Management 22:4, pages 323-356.
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Douglas Cumming & Sofia Atiquah binti Johan. (2007) Advice and monitoring in venture finance. Financial Markets and Portfolio Management 21:1, pages 3-43.
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Tereza Tykvová. (2006) How do investment patterns of independent and captive private equity funds differ? Evidence from Germany. Financial Markets and Portfolio Management 20:4, pages 399-418.
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Douglas Cumming & Sofia Atiqah binti Johan. (2006) Provincial preferences in private equity. Financial Markets and Portfolio Management 20:4, pages 369-398.
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