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Greenhorns, Yankees and Cosmopolitans: Venture Capital, IPOs, Foreign Firms & U.S. Markets

Edward B. Rock
University of Pennsylvania Law School



Theoretical Inquiries in Law, Forthcoming

Abstract:     
Black and Gilson have argued that "venture capital can flourish especially - and perhaps only - if the venture capitalist can exit from a successful portfolio company through an initial public offering (IPO), which requires an active stock market." But nothing in the Black and Gilson analysis requires that the exit option be a domestic capital market. In this Article, I use the phenomenon of Israeli high tech companies going public on the NASDAQ as a case study to explore the connection between a venture capital industry and domestic capital markets in a world of global capital and product markets.

Accepted Paper Series

Date posted: May 14, 2001 ; Last revised: June 12, 2001

Suggested Citation

Rock, Edward B., Greenhorns, Yankees and Cosmopolitans: Venture Capital, IPOs, Foreign Firms & U.S. Markets. Theoretical Inquiries in Law, Forthcoming. Available at SSRN: http://ssrn.com/abstract=269340 or doi:10.2139/ssrn.269340


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Contact Information

Edward B. Rock (Contact Author)
University of Pennsylvania Law School ( email )
3400 Chestnut Street
Philadelphia, PA 19104-6204
United States
215-898-8631 (Phone)
215-573-2025 (Fax)
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Citations: 9
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