Publication:
Foreign Business Activities, Foreignness of the VC Syndicate, and IPO Value

Simple item page
dc.contributor.authorGoergen, Marc
dc.contributor.authorChahine, Salim
dc.contributor.authorSaade, Samer
dc.contributor.rorhttps://ror.org/02jjdwm75
dc.date.accessioned2025-03-13T14:54:29Z
dc.date.available2025-03-13T14:54:29Z
dc.date.issued2018-09
dc.description.abstractThis paper examines the role played by foreign venture capital (VC) firms in US initial public offerings (IPOs). We find that US VC-backed IPOs benefit from the foreignness of the VC syndicate. Specifically, jointly with domestic VC firms foreign VC firms certify the quality of their portfolio companies at the time of the IPO, which increases their IPO premium. Foreign VC firms also play an advisory role, enhancing the foreign business activities of their US investees, thereby increasing the IPO premium. Finally, value added by foreign VC firms is greater through their monitoring role if they originate from countries where the investee has foreign business activities.
dc.description.peerreviewedyes
dc.description.statusPublished
dc.formatapplication/pdf
dc.identifier.citationChahine, S., Saade, S., & Goergen, M. (2019). Foreign business activities, foreignness of the VC syndicate, and IPO value. Entrepreneurship Theory and Practice, 43(5), 947-973. https://doi.org/10.1177/1042258718757503.
dc.identifier.doihttps://doi.org/10.1177/1042258718757503
dc.identifier.issn1042-2587
dc.identifier.urihttps://hdl.handle.net/20.500.14417/3650
dc.issue.number5
dc.journal.titleEntrepreneurship Theory and Practice
dc.language.isoen
dc.page.final973
dc.page.initial947
dc.page.total40
dc.publisherSAGE Journals
dc.relation.departmentFinance
dc.relation.entityIE University
dc.relation.schoolIE Business School
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.accessRightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/deed.en
dc.subject.keywordVenture capital
dc.subject.keywordInitial public offerings
dc.subject.keywordForeignness of the VC syndicate
dc.subject.keywordForeign business activities
dc.subject.keywordCertification
dc.subject.keywordAdvisory
dc.subject.keywordMonitoring
dc.subject.keywordInternational presence
dc.titleForeign Business Activities, Foreignness of the VC Syndicate, and IPO Value
dc.typeinfo:eu-repo/semantics/article
dc.version.typeinfo:eu-repo/semantics/acceptedVersion
dc.volume.number43
dspace.entity.typePublication
relation.isAuthorOfPublication55eb0faa-13da-4a35-a432-f529b62f4d8b
relation.isAuthorOfPublication.latestForDiscovery55eb0faa-13da-4a35-a432-f529b62f4d8b
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Foreign Business Activities, Foreignness of the VC Syndicate, and IPO Value.pdf
Size:
829.74 KB
Format:
Adobe Portable Document Format
Download
Collections
Research Articles