Är nordiska venture capital-finansierade börsnoteringar omogna?
(2024) FEKH89 20232Department of Business Administration
- Abstract (Swedish)
- Titel: Är nordiska venture capital-finansierade börsnoteringar omogna?
Seminariedatum: 2024-01-10
Kurs: FEKH89, Examensarbete i finansiering på kandidatnivå, 15 HP
Författare: Märta Eklöf, Ebba Svensson, Adam Widmark
Handledare: Maria Gårdängen
Nyckelord: Venture capital, VC-finansiering, börsnotering, operationell utveckling
Syfte: Syftet med denna studie är att undersöka om det föreligger någon signifikant skillnad i operationell utveckling efter IPO mellan VC-finansierade bolag och icke VC-finansierade bolag.
Metod: Kvantitativ studie
Teoretiska perspektiv: Studiens teoretiska ramverk utgår från tidigare empirisk forskning inom området operationell prestation efter IPO, samt forskning kring... (More) - Titel: Är nordiska venture capital-finansierade börsnoteringar omogna?
Seminariedatum: 2024-01-10
Kurs: FEKH89, Examensarbete i finansiering på kandidatnivå, 15 HP
Författare: Märta Eklöf, Ebba Svensson, Adam Widmark
Handledare: Maria Gårdängen
Nyckelord: Venture capital, VC-finansiering, börsnotering, operationell utveckling
Syfte: Syftet med denna studie är att undersöka om det föreligger någon signifikant skillnad i operationell utveckling efter IPO mellan VC-finansierade bolag och icke VC-finansierade bolag.
Metod: Kvantitativ studie
Teoretiska perspektiv: Studiens teoretiska ramverk utgår från tidigare empirisk forskning inom området operationell prestation efter IPO, samt forskning kring venture capital-firmors påverkan på portföljbolagen. Undersökningen baseras huvudsakligen på de teoretiska ramverken resultatmanipulation, market timing, certification-modellen, adverse selection-modellen och grandstanding-modellen.
Resultat: Ett av tre operationella prestationsmått visar att VC-finansiering har en signifikant negativ påverkan på bolags operationella utveckling efter IPO. Däremot visar majoriteten av studiens applicerade operationella prestationsmått att den operationella utvecklingen efter IPO inte skiljer sig mellan VC-finansierade och icke VC-finansierade bolag.
Slutsatser: Författarna drar slutsatsen att VC-finansiering i Norden inte har någon signifikant påverkan på bolags operationella utveckling efter IPO. (Less) - Abstract
- Title: Are Nordic Venture Capital-Financed Initial Public Offerings Immature?
Seminar Date: 2024-01-10
Course: FEKH89, Corporate Finance Degree Project, Undergraduate level, 15 ECTS
Authors: Märta Eklöf, Ebba Svensson, Adam Widmark
Advisor: Maria Gårdängen
Key words: Venture Capital, VC-financing, Initial Public Offering, Operating Performance
Purpose: The purpose of this of this essay is to examine if there are any significant difference in operating performance post IPO between VC-financed companies and non-VC-financed companies.
Methodology: Quantitative research
Theoretical Perspective: The study's theoretical framework is based on previous empirical research on operating performance after... (More) - Title: Are Nordic Venture Capital-Financed Initial Public Offerings Immature?
Seminar Date: 2024-01-10
Course: FEKH89, Corporate Finance Degree Project, Undergraduate level, 15 ECTS
Authors: Märta Eklöf, Ebba Svensson, Adam Widmark
Advisor: Maria Gårdängen
Key words: Venture Capital, VC-financing, Initial Public Offering, Operating Performance
Purpose: The purpose of this of this essay is to examine if there are any significant difference in operating performance post IPO between VC-financed companies and non-VC-financed companies.
Methodology: Quantitative research
Theoretical Perspective: The study's theoretical framework is based on previous empirical research on operating performance after IPO and research on venture capitalist firms impact on portfolio companies. The study is based on the theories of Earnings Management, Market Timing, Certification Model, Adverse Selection Model and Grandstanding Model.
Result: One out of three operating measures suggest that VC-financed companies have significantly worse operating performance than non-VC-financed companies. However, for the majority of operating measures and periods after IPO, VC-financed companies had not significantly worse, nor superior operating performance compared to non-VC-financed companies.
Conclusions: The authors conclude that VC-financing does not have a significant impact on Nordic company’s operating performance after IPO. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9148001
- author
- Eklöf, Märta LU ; Svensson, Ebba LU and Widmark, Adam LU
- supervisor
- organization
- course
- FEKH89 20232
- year
- 2024
- type
- M2 - Bachelor Degree
- subject
- keywords
- Venture capital, VC-finansiering, börsnotering, operationell utveckling
- language
- Swedish
- id
- 9148001
- date added to LUP
- 2024-09-12 15:53:29
- date last changed
- 2024-09-12 15:53:29
@misc{9148001,
abstract = {{Title: Are Nordic Venture Capital-Financed Initial Public Offerings Immature?
Seminar Date: 2024-01-10
Course: FEKH89, Corporate Finance Degree Project, Undergraduate level, 15 ECTS
Authors: Märta Eklöf, Ebba Svensson, Adam Widmark
Advisor: Maria Gårdängen
Key words: Venture Capital, VC-financing, Initial Public Offering, Operating Performance
Purpose: The purpose of this of this essay is to examine if there are any significant difference in operating performance post IPO between VC-financed companies and non-VC-financed companies.
Methodology: Quantitative research
Theoretical Perspective: The study's theoretical framework is based on previous empirical research on operating performance after IPO and research on venture capitalist firms impact on portfolio companies. The study is based on the theories of Earnings Management, Market Timing, Certification Model, Adverse Selection Model and Grandstanding Model.
Result: One out of three operating measures suggest that VC-financed companies have significantly worse operating performance than non-VC-financed companies. However, for the majority of operating measures and periods after IPO, VC-financed companies had not significantly worse, nor superior operating performance compared to non-VC-financed companies.
Conclusions: The authors conclude that VC-financing does not have a significant impact on Nordic company’s operating performance after IPO.}},
author = {{Eklöf, Märta and Svensson, Ebba and Widmark, Adam}},
language = {{swe}},
note = {{Student Paper}},
title = {{Är nordiska venture capital-finansierade börsnoteringar omogna?}},
year = {{2024}},
}