Premature listing and post-IPO venture capital refinancing

Anup Basnet; Magnus Blomkvist; Douglas J. Cumming

doi:10.1016/j.econlet.2022.110582

Premature listing and post-IPO venture capital refinancing

Anup Basnet
, Magnus Blomkvist
, Douglas J. Cumming

School of Business

University of Surrey
Audencia Business School

Research output: Contribution to journal › Article › peer-review

3 Scopus citations

Abstract

We examine why venture capital firms re-invest in portfolio companies also after the IPO. Companies are taken public earlier than optimal, resulting in lower post-IPO returns, and a greater likelihood of, and shorter time to, the first post-IPO VC refinancing.

Original language	English
Article number	110582
Journal	Economics Letters
Volume	216
DOIs	https://doi.org/10.1016/j.econlet.2022.110582
State	Published - Jul 2022

Keywords

Holding period
IPOs
Pre-mature listing
Refinancing
Venture capital

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10.1016/j.econlet.2022.110582

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title = "Premature listing and post-IPO venture capital refinancing",

abstract = "We examine why venture capital firms re-invest in portfolio companies also after the IPO. Companies are taken public earlier than optimal, resulting in lower post-IPO returns, and a greater likelihood of, and shorter time to, the first post-IPO VC refinancing.",

keywords = "Holding period, IPOs, Pre-mature listing, Refinancing, Venture capital",

author = "Anup Basnet and Magnus Blomkvist and Cumming, \{Douglas J.\}",

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AU - Basnet, Anup

AU - Blomkvist, Magnus

AU - Cumming, Douglas J.

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N2 - We examine why venture capital firms re-invest in portfolio companies also after the IPO. Companies are taken public earlier than optimal, resulting in lower post-IPO returns, and a greater likelihood of, and shorter time to, the first post-IPO VC refinancing.

AB - We examine why venture capital firms re-invest in portfolio companies also after the IPO. Companies are taken public earlier than optimal, resulting in lower post-IPO returns, and a greater likelihood of, and shorter time to, the first post-IPO VC refinancing.

KW - Holding period

KW - IPOs

KW - Pre-mature listing

KW - Refinancing

KW - Venture capital

UR - https://www.scopus.com/pages/publications/85130524650

UR - https://www.scopus.com/pages/publications/85130524650#tab=citedBy

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DO - 10.1016/j.econlet.2022.110582

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SN - 0165-1765

VL - 216

JO - Economics Letters

JF - Economics Letters

M1 - 110582

ER -

Premature listing and post-IPO venture capital refinancing

Abstract

Keywords

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