Venture capital-backed foreign portfolio company's IPO
by Dmitry Khanin; Adelina Gnanlet; David Leibsohn
International Journal of Entrepreneurship and Innovation Management (IJEIM), Vol. 16, No. 3/4, 2012

Abstract: We contend that the likelihood of a new, foreign venture capital (VC) financed venture launching an IPO will be associated with the institutional characteristics of the venture's home country including the national system of innovation and cultural dimensions, such as masculinity and power distance, as well as the commercial potential of its industry segment, and the stage of investment. A hazard model examining a dataset of 485 US VC-backed ventures in the healthcare (biotech and medical) industry operating in 12 countries provided support for our hypotheses.

Online publication date: Thu, 31-Jul-2014

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