Recent trends in corporate governance research show an increased concern with
the relationships between stock ownership and corporate performance, but what
is the impact of different types of Private Equity Investors? Does the
institutional environment have an effect? A research team including Professor
Igor Filatotchev, Professor of Corporate Governance and Strategy, have
investigated this further.
Previous research has investigated the idea that the presence of large-block
shareholders are effective means to control agency conflicts, but research on
the relationship between ownership concentration and performance has provided
This paper combines the theory of multiple agency perspective and the
institutional perspective and focuses on two types of private equity investors
(venture capitalists and business angels) in firms that have recently undergone
an IPO .
Do the findings support the argument that concentrated ownership improves IPO's
performance? The full article is now available below for you to read.