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Venture Capital and the Professionalization of Start-Up Firms: Empirical Evidence
This paper examines the impact venture capital can have on the development of new firms. Using a hand-collected data set on Silicon Valley start-ups, we find that venture capital is related to aExpand
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The Interaction between Product Market and Financing Strategy: The Role of Venture Capital
Venture capital financing is widely believed to be influential for new innovative companies. We provide empirical evidence that venture capital financing is related to product market strategies andExpand
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On the Lifecycle Dynamics of Venture-Capital- and Non-Venture-Capital-Financed Firms
We use a new data set that tracks U.S. firms from their birth over two decades to understand the life cycle dynamics and outcomes (both successes and failures) of VC- and non-VC financed firms. WeExpand
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On the Benefits of Concurrent Lending and Underwriting
This paper examines whether there are efficiencies that benefit issuers and underwriters when a financial intermediary concurrently lends to an issuer while also underwriting its public securitiesExpand
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Managerial Attitudes and Corporate Actions
We administer psychometric tests to senior executives to obtain evidence on their underlying psychological traits and attitudes. We find US CEOs differ significantly from non-US CEOs in terms ofExpand
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On Loan Sales, Loan Contracting, and Lending Relationships
This paper examines the secondary market for loan sales, focusing on whether loan contract design can reduce agency problems in loan sales and the benefits and costs to corporate borrowers. We argueExpand
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Global Retail Lending in the Aftermath of the Us Financial Crisis: Distinguishing between Supply and Demand Effects
This paper examines the broader effects of the US financial crisis on global lending to retail customers. In particular we examine retail bank lending in Germany using a unique data set of GermanExpand
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Commercial banks in investment banking conflict of interest or certification role
Abstract When commercial banks make loans to firms and also underwrite securities, does this hamper or enhance their role as certifiers of firm value? This paper examines empirically the pricing ofExpand
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Institutional Allocation in Initial Public Offerings: Empirical Evidence
We analyze institutional allocation in initial public offerings (IPOs) using a new dataset of US offerings between 1997 and 1998. We document a positive relationship between institutional allocationExpand
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Bank entry, competition, and the market for corporate securities underwriting
Abstract This paper examines the competitive effects of commercial bank entry into the corporate debt underwriting market, particularly with respect to underwriter spreads, ex-ante yields, and marketExpand
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