메뉴 건너뛰기




Volumn 30, Issue 1, 2012, Pages 41-64

Entrepreneurial equity financing and securities regulation: An empirical analysis

Author keywords

entrepreneurial ventures; equity financing; reverse merger; securities regulation

Indexed keywords


EID: 84856682197     PISSN: 02662426     EISSN: 17412870     Source Type: Journal    
DOI: 10.1177/0266242610383790     Document Type: Article
Times cited : (17)

References (55)
  • 1
    • 77951922461 scopus 로고    scopus 로고
    • The determinants and survival of reverse mergers versus IPOs
    • Adjei F,Cyree KB,Walker MM.The determinants and survival of reverse mergers versus IPOs.Journal of Economics and Finance. 2007;32 (2): 176-194.
    • (2007) Journal of Economics and Finance , vol.32 , Issue.2 , pp. 176-194
    • Adjei, F.1    Cyree, K.B.2    Walker, M.M.3
  • 2
    • 85005305538 scopus 로고
    • The market for 'lemons': Quality uncertainty and the market and mechanism
    • Akerlof GA.The market for 'lemons': Quality uncertainty and the market and mechanism.The Quarterly Journal of Economics. 1970;84:488-500.
    • (1970) The Quarterly Journal of Economics , vol.84 , pp. 488-500
    • Akerlof, G.A.1
  • 3
    • 69649085405 scopus 로고    scopus 로고
    • Rational actors, knowledgeable agents: Extending pecking order considerations of new venture financing to incorporate founder experience, knowledge and networks
    • Atherton A.Rational actors, knowledgeable agents: Extending pecking order considerations of new venture financing to incorporate founder experience, knowledge and networks.International Small Business Journal. 2009;27 (4): 470-495.
    • (2009) International Small Business Journal , vol.27 , Issue.4 , pp. 470-495
    • Atherton, A.1
  • 4
    • 0036055807 scopus 로고    scopus 로고
    • The determinants of growth for small and medium sized firms: The role of the availability of external finance
    • Becchetti L,Trovato G.The determinants of growth for small and medium sized firms: The role of the availability of external finance.Small Business Economics. 2002;19 (4): 291-306.
    • (2002) Small Business Economics , vol.19 , Issue.4 , pp. 291-306
    • Becchetti, L.1    Trovato, G.2
  • 5
    • 33749606714 scopus 로고    scopus 로고
    • Small and medium-size enterprises: Access to finance as a growth constraint
    • Beck T,Demirguc-Kunt A.Small and medium-size enterprises: Access to finance as a growth constraint.Journal of Banking & Finance. 2006;30 (11): 2931-2943.
    • (2006) Journal of Banking & Finance , vol.30 , Issue.11 , pp. 2931-2943
    • Beck, T.1    Demirguc-Kunt, A.2
  • 6
    • 84856687564 scopus 로고    scopus 로고
    • SPACs: An alternative way to access the public markets
    • Berger R.SPACs: An alternative way to access the public markets.Journal of Applied Corporate Finance. 2008;20 (3): 68-75.
    • (2008) Journal of Applied Corporate Finance , vol.20 , Issue.3 , pp. 68-75
    • Berger, R.1
  • 7
    • 0348142492 scopus 로고    scopus 로고
    • The legal and institutional preconditions for strong securities markets
    • Black BS.The legal and institutional preconditions for strong securities markets.UCLA Law Review. 2001;48:781-858.
    • (2001) UCLA Law Review , vol.48 , pp. 781-858
    • Black, B.S.1
  • 8
    • 33746344069 scopus 로고    scopus 로고
    • Europe's 'New' Stock Markets
    • Bottazzi L,Da Rin M.Europe's 'New' Stock Markets. 2002;:.
    • (2002)
    • Bottazzi, L.1    da Rin, M.2
  • 11
    • 84856660538 scopus 로고    scopus 로고
    • Does Fair Value Measurement Provide Satisfactory Evidence for Audit? The Case of High Tech Valuation
    • Available at SSRN, http://ssrn.com/paper=1269743
    • CarpentierCLabelleRLaurentBSuretJ-M (2008) Does Fair Value Measurement Provide Satisfactory Evidence for Audit?The Case of High Tech Valuation. Working Paper. Available at SSRN: http://ssrn.com/paper=1269743http://ssrn.com/paper=1269743.
    • (2008) Working Paper
    • Carpentier, C.1    Labelle, R.2    Laurent, B.3    Suret, J.-M.4
  • 12
    • 28944442048 scopus 로고    scopus 로고
    • Bypassing the financial growth cycle: Evidence from capital pool companies
    • Carpentier C,Suret J-M.Bypassing the financial growth cycle: Evidence from capital pool companies.Journal of Business Venturing. 2006a;21 (1): 45-73.
    • (2006) Journal of Business Venturing , vol.21 , Issue.1 , pp. 45-73
    • Carpentier, C.1    Suret, J.-M.2
  • 15
    • 71349085413 scopus 로고    scopus 로고
    • The choice of equity selling mechanisms: PIPES versus SEOS
    • Chen H,Dai N,Schatzberg J.The choice of equity selling mechanisms: PIPES versus SEOS.Journal of Corporate Finance. 2010;16 (1): 104-119.
    • (2010) Journal of Corporate Finance , vol.16 , Issue.1 , pp. 104-119
    • Chen, H.1    Dai, N.2    Schatzberg, J.3
  • 16
    • 54949154993 scopus 로고    scopus 로고
    • Can UK small businesses obtain growth capital in the public equity markets? An overview of the shortcomings in UK and European securities regulation and considerations for reform
    • Chiu H-Y.Can UK small businesses obtain growth capital in the public equity markets? An overview of the shortcomings in UK and European securities regulation and considerations for reform.Delaware Journal of Corporate Law. 2004;28 (3): 933-977.
    • (2004) Delaware Journal of Corporate Law , vol.28 , Issue.3 , pp. 933-977
    • Chiu, H.-Y.1
  • 17
    • 84856639208 scopus 로고    scopus 로고
    • Capital offense: The SEC's continuing failure to address small business financing concerns
    • Cohn S,Yadley G.Capital offense: The SEC's continuing failure to address small business financing concerns.New York University Jounal of Law and Business. 2007; (4): 1-88.
    • (2007) New York University Jounal of Law and Business , Issue.4 , pp. 1-88
    • Cohn, S.1    Yadley, G.2
  • 18
    • 54949126844 scopus 로고    scopus 로고
    • Impact of securities laws on developing companies: Would the Wright Brothers have gotten off the ground?
    • Cohn SR.Impact of securities laws on developing companies: Would the Wright Brothers have gotten off the ground?.Journal of Small and Emerging Business Law. 1999;3:315-366.
    • (1999) Journal of Small and Emerging Business Law , vol.3 , pp. 315-366
    • Cohn, S.R.1
  • 20
    • 33846205522 scopus 로고    scopus 로고
    • The initial public offerings of listed firms
    • Derrien F,Kecskes A.The initial public offerings of listed firms.The Journal of Finance. 2007;62 (1): 447-479.
    • (2007) The Journal of Finance , vol.62 , Issue.1 , pp. 447-479
    • Derrien, F.1    Kecskes, A.2
  • 22
    • 3242803590 scopus 로고    scopus 로고
    • Newly listed firms: Fundamentals, survival rates, and returns
    • Fama EF,French KR.Newly listed firms: Fundamentals, survival rates, and returns.Journal of Financial Economics. 2004;73 (2): 229-169.
    • (2004) Journal of Financial Economics , vol.73 , Issue.2 , pp. 169-229
    • Fama, E.F.1    French, K.R.2
  • 28
    • 84856627230 scopus 로고    scopus 로고
    • Promoting Access to Primary Equity Markets: A Legal and Regulatory Approach
    • Friedman FB,Grose C.Promoting Access to Primary Equity Markets: A Legal and Regulatory Approach. 2006;:.
    • (2006)
    • Friedman, F.B.1    Grose, C.2
  • 29
    • 84962556612 scopus 로고    scopus 로고
    • Alternatives for Going Public: Evidence from Reverse Takeovers, Self-Underwritten IPOs, and Traditional IPOs
    • Available at SSRN
    • GleasonKCJainRRosenthalL (2006) Alternatives for Going Public: Evidence from Reverse Takeovers, Self-Underwritten IPOs, and Traditional IPOs. Working Paper. Available at SSRN: http://ssrn.com/abstract=890714.
    • (2006) Working Paper
    • Gleason, K.C.1    Jain, R.2    Rosenthal, L.3
  • 30
    • 27944451023 scopus 로고    scopus 로고
    • Backing into being public: An exploratory analysis of reverse takeovers
    • Gleason KC,Rosenthal L,Wiggins RA.Backing into being public: An exploratory analysis of reverse takeovers.Journal of Corporate Finance. 2005;12 (1): 54-79.
    • (2005) Journal of Corporate Finance , vol.12 , Issue.1 , pp. 54-79
    • Gleason, K.C.1    Rosenthal, L.2    Wiggins, R.A.3
  • 31
    • 84998035346 scopus 로고    scopus 로고
    • Small firms' demand for finance: A research note
    • Howorth CA.Small firms' demand for finance: A research note.International Small Business Journal. 2001;19 (4): 78.
    • (2001) International Small Business Journal , vol.19 , Issue.4 , pp. 78
    • Howorth, C.A.1
  • 32
    • 54949128742 scopus 로고    scopus 로고
    • The impact of regulation on small and emerging businesses
    • Huffman JL.The impact of regulation on small and emerging businesses.Journal of Small and Emerging Business Law. 2000;4 (2): 307-317.
    • (2000) Journal of Small and Emerging Business Law , vol.4 , Issue.2 , pp. 307-317
    • Huffman, J.L.1
  • 33
    • 84856626276 scopus 로고    scopus 로고
    • Why SPAC Investors Should Listen to the Market
    • Available at SSRN
    • JenkinsonTSousaM (2009) Why SPAC Investors Should Listen to the Market. AFA 2010 Atlanta Meetings Paper. Available at SSRN: http://ssrn.com/abstract=1341771.
    • (2009) AFA 2010 Atlanta Meetings Paper
    • Jenkinson, T.1    Sousa, M.2
  • 34
    • 0042078168 scopus 로고    scopus 로고
    • The relaxation of financing constraints by the initial public offering of small manufacturing firms
    • Kim J.The relaxation of financing constraints by the initial public offering of small manufacturing firms.Small Business Economics. 1999;12 (3): 191-202.
    • (1999) Small Business Economics , vol.12 , Issue.3 , pp. 191-202
    • Kim, J.1
  • 36
    • 33745865359 scopus 로고    scopus 로고
    • How cost-effective are Canadian IPO markets
    • Kooli M,Suret J-M.How cost-effective are Canadian IPO markets.Canadian Investment Review. 2003;16 (4): 20-28.
    • (2003) Canadian Investment Review , vol.16 , Issue.4 , pp. 20-28
    • Kooli, M.1    Suret, J.-M.2
  • 38
    • 36949011010 scopus 로고    scopus 로고
    • The performance of entrepreneurial companies post-listing on the New Zealand Stock Exchange
    • Locke SM,Gupta K.The performance of entrepreneurial companies post-listing on the New Zealand Stock Exchange.Venture Capital. 2008;10 (1): 87-110.
    • (2008) Venture Capital , vol.10 , Issue.1 , pp. 87-110
    • Locke, S.M.1    Gupta, K.2
  • 39
    • 3042790802 scopus 로고    scopus 로고
    • Does choosing a section of the stock exchange matter in the IPO of SMEs? The French case
    • Mahérault L,Belletante B.Does choosing a section of the stock exchange matter in the IPO of SMEs? The French case.Small Business Economics. 2004;23 (4): 337-348.
    • (2004) Small Business Economics , vol.23 , Issue.4 , pp. 337-348
    • Mahérault, L.1    Belletante, B.2
  • 40
    • 84890635536 scopus 로고
    • Mandatory disclosure as a solution to agency problems
    • Mahoney PG.Mandatory disclosure as a solution to agency problems.The University of Chicago Law Review. 1995;62 (3): 1047-1112.
    • (1995) The University of Chicago Law Review , vol.62 , Issue.3 , pp. 1047-1112
    • Mahoney, P.G.1
  • 41
    • 0035594613 scopus 로고    scopus 로고
    • The IPO of young, high growth SMEs on Neuer Markt
    • Martin TA.The IPO of young, high growth SMEs on Neuer Markt.Small Business Economics. 2001;16 (4): 319-327.
    • (2001) Small Business Economics , vol.16 , Issue.4 , pp. 319-327
    • Martin, T.A.1
  • 42
    • 84997908480 scopus 로고    scopus 로고
    • Public policy support for the informal venture capital market in Europe: A critical review
    • Mason CM.Public policy support for the informal venture capital market in Europe: A critical review.International Small Business Journal. 2009;27 (5): 536-556.
    • (2009) International Small Business Journal , vol.27 , Issue.5 , pp. 536-556
    • Mason, C.M.1
  • 43
    • 0034757234 scopus 로고    scopus 로고
    • Investment Readiness': A critique of government proposals to increase the demand for venture capital
    • Mason CM,Harrison RT.'Investment Readiness': A critique of government proposals to increase the demand for venture capital.Regional Studies. 2001;35 (7): 663-668.
    • (2001) Regional Studies , vol.35 , Issue.7 , pp. 663-668
    • Mason, C.M.1    Harrison, R.T.2
  • 44
    • 0036631393 scopus 로고    scopus 로고
    • Barriers to investment in the informal venture capital sector
    • Mason CM,Harrison RT.Barriers to investment in the informal venture capital sector.Entrepreneurship & Regional Development. 2002;14 (3): 271-287.
    • (2002) Entrepreneurship & Regional Development , vol.14 , Issue.3 , pp. 271-287
    • Mason, C.M.1    Harrison, R.T.2
  • 47
    • 84856626280 scopus 로고    scopus 로고
    • Incentives and Reference Points in Managerial Decisions: Evidence from Cash Shells
    • Available at SSRN
    • RoosenboomPVasconcelosM (2010) Incentives and Reference Points in Managerial Decisions: Evidence from Cash Shells. Working Paper, Available at SSRN: http://ssrn.com/abstract=1341595.
    • (2010) Working Paper
    • Roosenboom, P.1    Vasconcelos, M.2
  • 49
    • 84964802766 scopus 로고    scopus 로고
    • The future of capital formation for small and medium-sized enterprises: Rethinking initial public offering regulation after the restructuring of Canadian Stock Exchanges
    • Rousseau S.The future of capital formation for small and medium-sized enterprises: Rethinking initial public offering regulation after the restructuring of Canadian Stock Exchanges.Revue Juridique Thémis. 2000;34 (3): 659-760.
    • (2000) Revue Juridique Thémis , vol.34 , Issue.3 , pp. 659-760
    • Rousseau, S.1
  • 50
    • 84856646842 scopus 로고    scopus 로고
    • Proportionate Securities Regulation: The Potential for Scaled Treatment of Junior Issuers
    • Available at:
    • SarraJ (2009) Proportionate Securities Regulation: The Potential for Scaled Treatment of Junior Issuers. Study commissioned by the Expert Panel on Securities Regulation, Available at: http://www.expertpanel.ca/documents/research-studies/Proportionate%20Securities%20Regulation%20-%20Sarra.English.pdf.
    • (2009) Study commissioned by the Expert Panel on Securities Regulation
    • Sarra, J.1
  • 51
    • 75749145787 scopus 로고    scopus 로고
    • The Basel II Reform and the provision of finance for R & D activities in SMEs: An analysis of a sample of Italian companies
    • Scellato G,Ughetto E.The Basel II Reform and the provision of finance for R & D activities in SMEs: An analysis of a sample of Italian companies.International Small Business Journal. 2010;28 (1): 65-89.
    • (2010) International Small Business Journal , vol.28 , Issue.1 , pp. 65-89
    • Scellato, G.1    Ughetto, E.2
  • 52
    • 0034341743 scopus 로고    scopus 로고
    • The Promise of entrepreneurship as a field of research
    • Shane S,Venkataraman S.The Promise of entrepreneurship as a field of research.Academy of Management Review. 2000;25 (1): 217-226.
    • (2000) Academy of Management Review , vol.25 , Issue.1 , pp. 217-226
    • Shane, S.1    Venkataraman, S.2
  • 55
    • 0000543640 scopus 로고    scopus 로고
    • Financial constraints on the growth of high technology small firms in the United Kingdom
    • Westhead P,Storey DJ.Financial constraints on the growth of high technology small firms in the United Kingdom.Applied Financial Economics. 1997;7 (2): 197-201.
    • (1997) Applied Financial Economics , vol.7 , Issue.2 , pp. 197-201
    • Westhead, P.1    Storey, D.J.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.