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The role of venture capitalist monitoring in mitigating cost stickiness: Evidence from Korea's IPO market

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dc.contributor.authorYang, Daecheon-
dc.contributor.authorKoo, J.-H.-
dc.contributor.authorKim, J.-
dc.date.accessioned2023-01-19T05:41:00Z-
dc.date.available2023-01-19T05:41:00Z-
dc.date.issued2023-03-
dc.identifier.issn1544-6123-
dc.identifier.issn1544-6131-
dc.identifier.urihttps://scholarworks.bwise.kr/cau/handle/2019.sw.cau/59901-
dc.description.abstractThis 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.-
dc.language영어-
dc.language.isoENG-
dc.publisherElsevier Ltd-
dc.titleThe role of venture capitalist monitoring in mitigating cost stickiness: Evidence from Korea's IPO market-
dc.typeArticle-
dc.identifier.doi10.1016/j.frl.2022.103560-
dc.identifier.bibliographicCitationFinance Research Letters, v.52-
dc.description.isOpenAccessN-
dc.identifier.wosid000922723900025-
dc.identifier.scopusid2-s2.0-85143768711-
dc.citation.titleFinance Research Letters-
dc.citation.volume52-
dc.type.docTypeArticle-
dc.publisher.location미국-
dc.subject.keywordAuthorCost stickiness-
dc.subject.keywordAuthorEmpire-building preferences-
dc.subject.keywordAuthorInitial public offering-
dc.subject.keywordAuthorManagerial optimism-
dc.subject.keywordAuthorVenture capitalist-
dc.subject.keywordPlusEARNINGS MANAGEMENT-
dc.subject.keywordPlusCORPORATE GOVERNANCE-
dc.subject.keywordPlusMANAGERIAL OPTIMISM-
dc.subject.keywordPlusOVERCONFIDENCE-
dc.subject.keywordPlusPERFORMANCE-
dc.subject.keywordPlusBEHAVIOR-
dc.relation.journalResearchAreaBusiness & Economics-
dc.relation.journalWebOfScienceCategoryBusiness, Finance-
dc.description.journalRegisteredClassssci-
dc.description.journalRegisteredClassscopus-
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경영경제대학 (경영학부(서울))
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