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Protected "VC Acquisitions Paper" [edit=trusted:move=trusted:read=trusted]
Connect to the Postgres database (inside the Berkeley network only) with:
psql -h 128.32.252204.201 203 -U ed_egan Acqs
==Current Status==
*Do a proper literature review again!
===Lit Review===
The main [[VC Acquisitions Lit Review]] page details searches for papers related to the intersection of venture capital, acquisitions and explaining abnormal returns.
There are seperate lit reviews for related topics, such as:
*[[Information Asymmetry Measures]]
*[[Information Asymmetry in Acquisitions Lit Review]]
*[[The Winners Curse]]
The key papers found were:
*[[Masulis Nahata (2011) - Venture Capital Conflicts Of Interest]]
*[[Gompers Xuan (2008) - Bridge Building In Venture Capital Backed Acquisitions]]
*[[Gompers Xuan (2006) - The Role Of Venture Capitalists In The Acquisition Of Private Companies]]
*[[Benson Ziedonis (2010) - Corporate Venture Capital And The Returns To Acquiring Portfolio Companies]]
====Comparing Results====
Comparing our CARs with those from the literature (some values are inferred - see the review pages)
Our Paper M&N'11 G&X'06 G&X'08 B&Z'10
Data Range 80-'10 91-06 90-01 92-06 80-03
Model Mkt Sub Mkt Mkt Mkt
Univariate
Private Target 0.7% 4.8% 1.5% NA NA
VC 0.3% 6.3% 0.6% 0.7% 0.7%
Non-VC 0.8% 3.4% 1.6% NA NA
With Controls
VC indicator 0.5% 2.7% 0.3%
Target Ind. Q 4.8%
Related 0.5%
R2 1.6% 4.3% 1.6%
N 22,961 490 8693 1261 489
Note that using the subtraction model our univariate results are: 0.95% (all), 0.98% (Non-VC) and 0.59% (VC).
==Latest Version==
