상세 보기
The role of venture capitalist monitoring in mitigating cost stickiness: Evidence from Korea's IPO market
- Yang, Daecheon;
- Koo, J.-H.;
- Kim, J.
Citations
WEB OF SCIENCE
1Citations
SCOPUS
1초록
This study investigates the monitoring role of venture capitalists in mitigating the degree of cost stickiness, which may stem from optimistic issuers intoxicated by the prosperous environment surrounding IPOs. In Korea's KOSDAQ market, we find that an issuing company managed by optimistic issuers is affected by cost stickiness after the offering. However, this cost stickiness decreases with the presence and the percentage ownership of long-term VCs. Our findings imply the role of VC monitoring in restraining issuers’ suboptimal decisions in an emerging IPO market. © 2022 Elsevier Inc.
키워드
Cost stickiness; Empire-building preferences; Initial public offering; Managerial optimism; Venture capitalist; EARNINGS MANAGEMENT; CORPORATE GOVERNANCE; MANAGERIAL OPTIMISM; OVERCONFIDENCE; PERFORMANCE; BEHAVIOR
- 제목
- The role of venture capitalist monitoring in mitigating cost stickiness: Evidence from Korea's IPO market
- 저자
- Yang, Daecheon; Koo, J.-H.; Kim, J.
- 발행일
- 2023-03
- 유형
- Article
- 권
- 52
- 언어
- ENG
- 출판사
- Elsevier Ltd
- 발행국가
- 미국
- ISSN
- E 1544-6131
P 1544-6123