Digital Commons Network^™

Venture-Backed Ipos And The Exiting Of Venture Capital In China, Xiaoqing Eleanor Xu

The Journal of Entrepreneurial Finance

This paper documents the dramatic improvement in institutional, legal and regulatory environment for the exiting of foreign venture capital in China. It also discusses the recent developments, advantages and disadvantages of various China venture-backed IPO listing channels, including overseas listing through the main board and high-tech trading board in the United States (via New York Stock Exchange and NASDAQ), Hong Kong (via Hong Kong Stock Exchange and Hong Kong Growth Enterprise Market) and Singapore (via Singapore Exchange and SESDAQ), and domestic listing (via Shenzhen Small and Medium Enterprise Board). Finally, this paper examines the venture capital funding and IPO offering …

Capital Structure In Small Manufacturing Firms: Evidence From The Data, Susan Coleman

The Journal of Entrepreneurial Finance

This article examines theories of capital structure pertaining to small firms and looks at the capital structure of small to mid-sized manufacturing firms within the context of those theories. Results provide support for Leland and Pyle's (1977) Signaling Theory, Myer's (1984) Pecking Order Theory, Berger and Udell's (1998) Life Cycle Theory. Contrary to the findings of prior research, these results revealed that industry sector was not a significant determinant of capital structure. Rather, these findings show that capital structure in small to mid-sized firms is determined by measures of firm size, firm age, organizational status, profitability, and asset structure.

Most Popular Downloads -- November 2006

Institutional Repository Information

Most Popular Full-Text Downloads for November 2006 from DigitalCommons@University of Nebraska - Lincoln. Includes listing of 366 documents, with linked URLs and number of times downloaded. Also total number of files downloaded, and total number of downloads for November 2006.

The Marking Of Stuart Chase As A "Red Accountant" - An Epic (1917-1921), Richard Vangermeersch

Special Collections (Miscellaneous)

There has been recent scholarship by Bradley and Merino (1994) and Vangermeersch (2005) on this event and the subsequent eventual firing of Stuart Chase by the FTC. Bradley and Merino’s scholarship was limited to 1918 and 1919. Vangermeersch’s scholarship was limited to two narrow time periods (Oct. 20, 1919 and then from June 1920 to mid January 1921). This piece is written to extend the time frame from early 1917 through August of 1921. This piece, not only takes a broader time period, also broadens the scope of the prior scholarship. This piece examines many documents, articles, and testimony not …

Stuart Chases's Use Of Jules Verne's The Mysterious Island, (1874), Richard Vangermeersch

Special Collections (Miscellaneous)

There are two very specific reasons why this piece was researched and written. The first is a continuation of my work done on Stuart Chase (various publications). I am still hopeful my efforts will inspire an historian to do a 1000 page biography on Stuart Chase. The second is further example why my idea of using Verne’s book as the basis for a one-day management seminar is worth trying.

Volume 26, Number 4, December 2006 Olac Newsletter, Jain Fletcher, Jan Mayo, Barbara Vaughan, Jay Weitz

OLAC Newsletters

Digitized December 2006 issue of the OLAC Newsletter.

Hastings Community (Winter 2006), Hastings College Of The Law Alumni Association

Hastings Alumni Publications

No abstract provided.

Lpe Center News, December 2006

Livestock and Poultry Environmental Learning Center: Newsletters

In this issue:

• Integrated Nutrient Management and Limits of the P-Index

• Pathogen Resources Available on the Website

• Quick Start Your Search with Dynamic Bibliographies

• Environmental Management Systems for Agriculture

Transient Loss Of Power Of Accommodation In 1 Eye Following Inferior Alveolar Nerve Block: Report Of 2 Cases, Wei Cheong Ngeow, C.K. Shim, W.L. Chai

Research Publications (2006 to 2010)

Unintended intravascular injection from inferior alveolar nerve blocks can result in frustrating distant complications affecting such structures as the middle ear and eyes. Possible complications affecting the eyes include blurring of vision, diplopia, mydriasis, palpebral ptosis and amaurosis ( temporary or permanent). In this article, we present a complication that has been reported only rarely. Two patients developed transient loss of power of accommodation of the eye resulting in blurred vision after routine inferior alveolar nerve blocks on the ipsilateral side. Clear vision returned within 10 - 15 minutes after completion of the blocks. The possible explanation for this phenomenon …

Letter From The Guest Editor, Rassoul Yazdipour

The Journal of Entrepreneurial Finance

No abstract provided.

Behavioral Finance And Entrepreneurial Finance: A Short Note, Rassoul Yazdipour

The Journal of Entrepreneurial Finance

This paper draws the attention of the new researchers to what has been going on in the Behavioral Finance front and how we can draw from and expand upon such works. By doing so, we hope to find more convincing answers to the key questions that continue to define our fascinating academic niche.

On Valuing Employee Stock Option Plans With The Requisite Service Period Requirement, Thomas A. Rhee

The Journal of Entrepreneurial Finance

This paper examines issues involving employee stock option plans as a part of employee compensation. In particular, employee stock options requiring a requisite service period are viewed as an option on options and hence, a compound option, as the employee’s future market wage rate is unknown. Non-transferability of employee stock options is overcome by the well-known put-call parity theorem. Difficulties arise, however, if a firm is privately held. The paper derives a simple formula to value equities for privately held firms.

Power Between Entrepreneurs And Investors: A Case Study, Oskari Lehtonen

The Journal of Entrepreneurial Finance

Two main approaches have been utilized to explain the relationship between entrepreneurs and their investors. The first is based on the separation of ownership and management i.e. the so-called principal-agent approach. The second emphasizes trust and cooperation in the relationship. This article offers new perspectives from which to analyze the relationship by utilizing power constructs such as dependency, power balance/imbalance and different power sources in the setting. The data are based on the author’s eighteen month period of observation as a business angel in one entrepreneurial venture.

Letter From The Editor-In-Chief, Allan Young

The Journal of Entrepreneurial Finance

The study of entrepreneurial theory and practice has now reached a significant stage at many schools of management and business. However, it appears as though even at those schools which are supposedly highly ranked, the financial aspects of entrepreneurial pursuits seem to be given rather short shrift in comparison with other aspects of entrepreneurial concerns. Nevertheless, for some time now research into IPOs, the activities of venture capitalists (so-called reputable vis-a-vis non-reputable), liquidity concerns of fledgling enterprises, venture capital arms of banks, financial aspects of business angel activities, and other such aspects of financial entrepreneurship have been well within the …

Assessing The Profitability And Riskiness Of Small Business Lenders In The Banking Industry, James W. Kolari, Charles C. Ou, G. Hwan Shin

The Journal of Entrepreneurial Finance

Two alternatives research hypotheses concerning how small business lending affects bank profitability are tested. The specialization hypothesis argues for higher profitability than other banks due to increased focus on small business lending, whereas the diversification hypothesis asserts that small business lenders' profitability will be lower than other more diversified banks. Using the rate of return on assets as the profit measure, we find that small business exposure tends to have neutral or positive effects on bank profitability after taking into account bank risk. Using efficient frontier analyses that focus on the rate of return on equity, we find that business …

Angel Investing: Changing Strategies During Volatile Times, Jeffrey E. Sohl

The Journal of Entrepreneurial Finance

Changing conditions in the angel market offer a unique opportunity to further knowledge and understanding about angel investing in the US during times of economic volatility. To identify trends in the angel market, this research examines changes in characteristics and investment behavior during a time of market expansion and contraction (2000 to 2001). While business angels remain the leading source of seed capital for business ventures, depressed yield rates and increased due diligence indicate that investors are retreating to more fundamental approaches.

Letter From The Editor-In-Chief, Allan Young

The Journal of Entrepreneurial Finance

This is among our series of special invited papers which in this case were collected and compiled with an eye to geographical considerations. Accordingly, our first series of offerings in this issue is internationally based, while the latter three papers deal with the domestic entrepreneurial scene. This organization seems appropriate in that countries outside of the U.S. are now beginning to draw upon U.S. entrepreneurial experience in such diverse areas as venture capital, education, and venture formation, among many others.

Initial Public Offerings, Subsequent Seasoned Equity Offerings, And Long-Run Performance: Evidence From Ipos In Germany, Wolfgang Bessler, Stefan Thies

The Journal of Entrepreneurial Finance

The objective of this study is to investigate the long-run performance of initial public offerings (IPO) in Germany for the period from 1977 to 1995. Of particular interest is to examine whether underpricing and the timing of subsequent seasoned equty offerings (SEO) may help to explain why some firms have substantial positive and others have substantial negative long-run abnormal holding period returns after going public. We find significant empirical evidence that firms that raised additional funds after an IPO through a seasoned equity offering outperformed the market. There is a significant difference in returns relative to the firms that had …

The Link Between Ipo Underpricing And Trading Volume: Evidence From The Istanbul Stock Exchange, Aydin Yüksel, Asli Yüksel

The Journal of Entrepreneurial Finance

Recent evidence from U.S. markets shows that IPO underpricing is associated with high liquidity for issuing firms. One explanation given for this link is that IPO firms simultaneously decide on share retention and underpricing to maximize aftermarket liquidity. We use data from the Istanbul Stock Exchange (ISE) to provide international evidence. Our results do not support the argument that IPO firms use underpricing as a tool to make up the reduction in liquidity caused by higher share retention. We report that there is an asymmetric relationship between underpricing and trading volume in the short run. However, the positive link between …

An Excursion Into The Venture Capital Industry Stratified By Locations And Industries 1996-2005, Yochanan Shachmurove

The Journal of Entrepreneurial Finance

This paper studies venture capital investment activity in the United States stratified by both locations and industries. Is geographical location an important factor to venture capital investment? Is industry classification important in explaining the amount of dollars invested in venture capital? This paper is motivatd by the reemerging importance of economic geography, and the recognition that industrial location is fundamental to understanding the field of economic geography. The quarterly data are from the MoneyTree Survey, a regularly used source for the financial community. This study affirms that location and industry are important in explaining investment trends in venture capital.

Cash Reserve And Venture Business Survival Probability, Sheen Liu, Peter Woodlock, Howard Qi, Yan Alice Xie

The Journal of Entrepreneurial Finance

Both solid business ventures and those not on as firm a footing can fail because they do not manage risk properly. This study shows that start-ups with a positive NPV project can fail because of inadequate cash reserves. We apply the first-hitting time model to analyze the effect of a cash reserve on the business failure density function and the cumulative failure probability for a specific business venture. The analysis of this model shows that business ventures have a much higher survival probability when they reduce their future cash-flow volatility. It is also shown that when risks cannot be controlled …

Dec. 2006

NASIG Newsletter

No abstract provided.

The Economics Of Cultural Misrepresentation: How Should The Indian Arts And Crafts Act Of 1990 Be Marketed?, Jennie D. Woltz

Fordham Intellectual Property, Media and Entertainment Law Journal

No abstract provided.

Direct Sequence Modified Time Hopping Ppm Over Ultra Wideband S-V Channel, Peter Vial, Beata J. Wysocki, Tadeusz A. Wysocki

Department of Electrical and Computer Engineering: Faculty Publications (to 2015)

A three position Pulse Position Modulation (PPM) scheme is proposed for a Direct Sequence Time Hopping Ultra Wideband wireless communication system. The channel is based on the Saleh-Valenzuela model. We show that by adapting the Space Time Spreading technique to use three pulse positions in a single input single output system representing -2,0,2 an improvement in Bit Error Rate is achieved compared to sending the same bits using two pulse positions only. In addition, the bit access rate is doubled as two bits can be successfully sent in the same time using our proposed system.

Joshua 6:15-21: Exploring The Deeper Meaning Of The Herem, Mike Wegman

Verbum

In lieu of an abstract, below is the essay's first paragraph.

"In the Old Testament, there are a number of books that contain violent stories that may shock the casual reader. Some of these stories seem to encourage not only the slaughtering of enemy armies, but also the murder of innocent civilians. The book of Joshua, in particular, contains a number of such tales. In chapters six through eleven of this book, God instructs Joshua and his followers to obliterate dozens of enemy armies, and subsequently orders them to lay their towns to waste. Joshua and his followers put to …

Estimating Variance Under Interval And Fuzzy Uncertainty: Case Of Hierarchical Estimation, Gang Xiang, Vladik Kreinovich

Departmental Technical Reports (CS)

No abstract provided.

Table Of Contents

Seton Hall Journal of Sports and Entertainment Law

No abstract provided.

Has Reality Programming Been Voted Off The Island Of Copyright Protection? Finding Protection As A Compilation, Jesse Stalnaker

Seton Hall Journal of Sports and Entertainment Law

No abstract provided.

Race As Fiction: How Film And Literary Fictions Of 'Mulatto' Identity Have Both Fostered And Challenged Social And Legal Fictions Regarding Race In America, Bridget K. Smith

Seton Hall Journal of Sports and Entertainment Law

No abstract provided.

The New Wada Code And The Search For A Policy Justification For Anti-Doping Rules, Eoin Carolan

Seton Hall Journal of Sports and Entertainment Law

No abstract provided.