Venture Capital Ownership and Contracting During the Brazilian IPO Boom

The purpose of this paper is to examine the effect of ownership structure and board structure on performance in VC-backed firms. Using 106 French VC-backed firms, our methodology in this paper is to estimate four equations. A regression analysis is then used to study the impact of ownership structure and board structure on performance and also to analyze whether ownership structure (ownership concentration, director ownership, venture capital ownership and employee ownership) and board variables (size, outside directors, COE-chairman duality, proportion of VC directors, proportion of employee directors and board meeting frequency) are significant determinants of VC-backed firm performance. Results indicate a strong positive relation between ownership concentration and performance and between director ownership and performance measured by ROE. And strong negative relation between ownership concentration and performance and between director ownership and performance measured by ROA. No strong relation was found between venture-capital ownership, employee ownership and firm performance. Results show also a strong negative relation between board size and performance measured by ROE and positive relation between board size and performance measured by ROA, Tobin’s Q and MVA. The proportion of independent outside directors on the board was positively associated with ROE and negatively associated with ROA. The presence of a dual leadership structure is negatively associated with ROE and positively associated with ROA. No strong relation was found between the proportion of venture-capital in board, the presence of employee in board, or board meeting frequency and firm performance.

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Venture Capital Ownership as a Contingent Resource: How Owner–Firm Fit Influences IPO Outcomes

Academy of Management Journal ◽

10.5465/amj.2012.0871 ◽

2016 ◽

Vol 59 (3) ◽

pp. 930-955 ◽

Cited By ~ 16

Author(s):

Razvan Lungeanu ◽

Edward J. Zajac

Keyword(s):

Venture Capital ◽

Capital Ownership

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FAKTOR-FAKTOR YANG MEMPENGARUHI PENDAPATAN DAN KESEJAHTERAAN PETANI GARAM RAKYAT KAWASAN PESISIR KALIANGET

PERFORMANCE Jurnal Bisnis & Akuntansi ◽

10.24929/feb.v6i1.259 ◽

2015 ◽

Vol 5 (2) ◽

pp. 66

Author(s):

Nurdody Zakki ◽

Sayyida ,

Keyword(s):

Venture Capital ◽

Odds Ratio ◽

Human Life ◽

Land Ownership ◽

Family Welfare ◽

Logit Models ◽

Descriptive Research ◽

Wide Range ◽

Quantitative Descriptive ◽

Capital Ownership

The existence of the salt very important role in various fields of human life. To further facilitate the depiction of the benefits of salt in a wide range of human life. Weak capital owned by causing salt farmers are still not optimal in accessing the capital resources of banks and non-banks. Issues examined in this is how the influence of the type of business, venture capital and land ownership as well as its impact on the income of family welfare salt farmers, in order to know the influence of the type of business, venture capital and capital ownership to revenue and its impact on family welfare salt farmers. This research was conducted in the District Kalianget in the Pinggirpapas Village and Karanganyar village. In studies using quantitative descriptive research. The focus of this study examines the type of business, working capital, capital ownership, income and family welfare salt farmers. Samples were taken from two villages 100 salt farmers. The results of this study based on the analysis of logistics only land ownership is a factor which significantly affect the welfare and logit models produce Odds ratio here indicates the value of the tendency of a salt farmers who rent land to be living with the condition is very prosperous by almost 5 times more than salt farmer working other people's land. While the salt farmers who own land, tend to be more prosperous. This is indicated by the magnitude of the odds ratio which gives the meaning that the salt farmers who own land who live in a very prosperous condition of nearly 7 times more than farmers who enforces other people's land.Kata Kunci: Petani Garam, Kesejahteraan, Analisis Korelasi, Regresi Logistik.

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