Financial Management articles from September 1994

Financial Management archives from September 1994

New directions in research on venture capital finance. (Venture Capital Special Issue)
September 22, 1994... The investment of venture capital funds in growing enterprises is a remarkable feat of financial engineering. Investors in private venture capital funds place their money for long periods of time in the hands of venture capitalists of uncertain...

The syndication of venture capital investments. (Venture Capital Special Issue)
September 22, 1994... Cooperation among financial institutions is an enduring feature of the equity issuance process. Syndicated underwritings in the U.S. date back at least as far as an 1870 offering by Pennsylvania Railroad. By the 1920s, separate syndicates in many...

Toward a model of venture capital investment decision making. (Venture Capital Special Issue)
September 22, 1994... The venture capital market plays a significant role in providing capital to a wide variety of enterprises. While Fried and Hisrich (1994), Sahlman (1990) and Barry, Muscarella, Peavy, and Vetsuypens (1990) have examined the value of a venture...

Managerial ownership, debt policy, and the impact of institutional holdings: an agency perspective. (Venture Capital Special Issue)
September 22, 1994... Recent innovations in the theoretical literature suggest that ownership structure and the distribution of financial claims can affect firm performance and value by mitigating agency costs of the firm. A considerable body of literature exists...

The role of medium of exchange in merger offers: examination of terminated merger proposals. (Venture Capital Special Issue)
September 22, 1994... Research reveals significantly higher valuation effects accompanying cash merger offers for both target and bidding firms than the valuation effects accompanying stock offers (Asquith, Bruner, and Mullins (1983), Wansley, Lane, and Yang (1983),...

Timing the disclosure of information: management's view of earnings announcements.
September 22, 1994... Choosing the best time to release information is natural human behavior. David Gergen, counselor to President Clinton, expresses it succinctly: "It was one of the first lessons I learned when I arrived in Washington.... If you've got some news...

A simple approximation of Tobin's q.
September 22, 1994... Tobin's q plays an important role in many financial interactions. Defined as the ratio of the market value of a firm to the replacement cost of its assets, q has been employed to explain a number of diverse corporate phenomena, such as...