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The Role of Venture Capitalists as Financial Intermediaries in Capital Markets

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  • Halil I Bulut

Abstract

This study focuses on the role of venture capitalists in the creation of public companies. The two issues have encouraged this study: First, the success of venture capitalists in the creation of public companies has recently attracted considerable attention in the US. Second, recently Turkey has been trying to develop not only capital markets but also venture capital industry. This study is a summary of the works focused on whether the capital markets recognize the certification role of venture capitalists in initial public offerings. In those works it was aimed to explain that how the capital markets recognize the certification role of venture capitalists by comparing the venture capital-backed initial public offerings with a control sample of non-venture capital-backed initial public offerings regarding relevant features of venture capital industry.

Suggested Citation

  • Halil I Bulut, 2000. "The Role of Venture Capitalists as Financial Intermediaries in Capital Markets," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 4(15), pages 27-52.
    • Handle: RePEc:bor:iserev:v:4:y:2000:i:15:p:27-52
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    References listed on IDEAS

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    1. Eichengreen, Barry & Rose, Andrew K & Wyplosz, Charles, 1996. "Contagious Currency Crises," CEPR Discussion Papers 1453, C.E.P.R. Discussion Papers.
    2. Graciela Kaminsky & Saul Lizondo & Carmen M. Reinhart, 1998. "Leading Indicators of Currency Crises," IMF Staff Papers, Palgrave Macmillan, vol. 45(1), pages 1-48, March.
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