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Identifying Successful Investors in the Startup Ecosystem

by Srishti Gupta, Robert Pienta, Acar Tamersoy, Duen Horng Chau, Rahul C. Basole
"... Who can spot the next Google, Facebook, or Twitter? Who can discover the next billion-dollar startups? Measuring in-vestor success is a challenging task, as investment strate-gies can vary widely. We propose InvestorRank, a novel method for identifying successful investors by analyzing how an invest ..."
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Who can spot the next Google, Facebook, or Twitter? Who can discover the next billion-dollar startups? Measuring in-vestor success is a challenging task, as investment strate-gies can vary widely. We propose InvestorRank, a novel method for identifying successful investors by analyzing how

Does Investor Misvaluation Drive the Takeover Market?

by Ming Dong, David Hirshleifer, Scott Richardson, Siew Hong Teoh, We Thank Francois Derrien, Peter Easton, Mark Grinblatt, Jack Hirshleifer, Danling Jiang, Steve Kaplan, Andrew Karolyi, Sonya Seongyeon Lim, Gordon Phillips, Jay Ritter, David Robinson, Anna Scherbina, Andrei Shleifer, Christof Stahel, René Stulz, Tuomo Vuolteenaho, Ralph Walkling, Karen Wruck , 2003
"... This paper tests the hypothesis that irrational market misvaluation a#ects firms' takeover behavior. We employ two contemporaneous proxies for market misvaluation, pre-takeover book/price ratios and pre-takeover ratios of residual income model value to price. Misvaluation of bidders and targets ..."
Abstract - Cited by 126 (8 self) - Add to MetaCart
and targets influences the means of payment chosen, the mode of acquisition, the premia paid, target hostility to the o#er, the likelihood of o#er success, and bidder and target announcement period stock returns. The evidence is broadly supportive of the misvaluation hypothesis

Can Individual Investors Beat the

by Joshua D. Coval, David A. Hirshleifer, Tyler Shumway, Joshua D. Coval, David Hirshleifer, Tyler Shumway , 2005
"... We document strong persistence in the performance of trades of indi-vidual investors. The correlation of the risk-adjusted performance of an individual across sample periods is about 10 percent. Investors classified in the top performance decile in the first half of our sample subsequently outperfor ..."
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outperform those in the bottom decile by about 8 percent per year. Strate-gies long in firms purchased by previously successful investors and short in firms purchased by previously unsuccessful investors earn abnormal returns of 5 basis points per day. These returns are not confined to small stocks nor

Managerial succession and firm performance

by Mark R. Huson, Paul H. Malatesta, Robert Parrino - Journal of Financial Economics , 2004
"... Abstract: We examine CEO turnover and firm financial performance. Accounting measures of performance relative to other firms deteriorate prior to turnover, and improve subsequently. Relative performance improvements are positively related to institutional shareholdings and are greater when successor ..."
Abstract - Cited by 117 (0 self) - Add to MetaCart
in accounting measures of performance. This suggests that investors typically view turnover announcements as good news because they anticipate that turnover will prompt performance improvements, on average.

Can individual investors beat the market

by Joshua D Coval , David Hirshleifer , Tyler Shumway , 2005
"... Abstract We document strong persistence in the performance of trades of individual investors. Investors classiÞed in the top 10 percent place other trades that on average earn excess returns of 15 basis points per day. A rolling-forward strategy of going long Þrms purchased by previously successful ..."
Abstract - Cited by 2 (0 self) - Add to MetaCart
successful investors and shorting Þrms purchased by previously unsuccessful investors results in excess returns of 5 basis points per day. These returns are not conÞned to small stocks nor to stocks in which the investors are likely to have inside information. Our results suggest that skillful individual

Success

by unknown authors
"... loves company. ihop corp. 2007 annual report * Excludes impact of one month’s worth of operating results from the acquisition of Applebee’s International, Inc. on November 29, 2007. free cash flow performance (In millions) When we initiated IHOP’s business model transformation in 2003, we significan ..."
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will be the most important measure for investors as it is one of the primary benefits of operating highly franchised businesses.

Portfolio Concentration and the Performance of Individual Investors,” working paper

by Clemens Sialm, Scott Weisbenner , 2004
"... This paper tests whether information advantages help explain why some individual in-vestors concentrate their stock portfolios in a few stocks. Stock investments made by households that choose to concentrate their brokerage accounts in a few stocks outper-form those made by households with more dive ..."
Abstract - Cited by 57 (0 self) - Add to MetaCart
diversified accounts (especially among those with large portfolios). Excess returns of concentrated relative to diversified portfolios are stronger for stocks not included in the S&P 500 index and local stocks, potentially reflect-ing concentrated investors ’ successful exploitation of information

Who are the active investors? Evidence from venture capital

by Laura Bottazzi, Marco Da Rin, Thomas Hellmann, Pher Anderson, Bruno Cassiman, David Hsu, Arie Melnik, David Musto, Manju Puri - Journal of Financial Economics , 2008
"... This paper examines the determinants and consequences of investor activism in ven-ture capital. Using a hand-collected sample of European venture capital deals, it shows the importance of human capital. Venture capital firms with partners that have prior business experience are more active recruitin ..."
Abstract - Cited by 51 (8 self) - Add to MetaCart
This paper examines the determinants and consequences of investor activism in ven-ture capital. Using a hand-collected sample of European venture capital deals, it shows the importance of human capital. Venture capital firms with partners that have prior business experience are more active

Are Angels Preferred Venture Investors?

by Brent Goldfarb, Gerard Hoberg, David Kirsch Alex, Er Triantis , 2007
"... We examine the impact of business angels on 182 Series A financings and subsequent company outcomes. Our studied rounds have a varied mix of business angel and formal venture capital investors (VCs). We find that when only angels participate in a financing round and VCs are absent, control rights ar ..."
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are more entrepreneur-friendly, legal expenses are lower, and investors are more geographically proximate to the company. Such angel-backed companies are less likely to fail and are more likely to have a successful liquidity event. We find that companies financed exclusively by VC investors also perform

The performance and persistence of individual investors: Rational agents or tulip maniacs?

by Rob Bauer, Mathijs Cosemans, Piet Eichholtz , 2007
"... We study the impact of derivatives trading on the investment performance of individual investors and examine whether investor performance is persistent. Using a sample of more than 68,000 accounts and nine million trades, we find that the average investor earns negative gross and net alphas, mainly ..."
Abstract - Cited by 4 (0 self) - Add to MetaCart
because of substantial losses on derivatives investments. The underperformance of derivatives traders is due to bad market timing that results from overreaction to past stock market movements. We also find strong evidence of performance persistence among individual investors. Women are more successful
Results 1 - 10 of 847