Silvio Vismara

University of Bergamo

Associate Professor

Via Marconi 5

24044 Dalmine, Bergamo

Italy

  • University of Bergamo

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    • Tel: 00390352052352
    • Fax: 0039035562779
SCHOLARLY PAPERS

48

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246

Scholarly Papers (48)

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1.

Returns on Investments in Equity Crowdfunding

Number of pages: 43 Posted: 19 Apr 2016 Last Revised: 02 Jun 2016
Andrea Signori and Silvio Vismara
Catholic University of Milan and University of Bergamo
Downloads 1,280 (17,575)
Citation 21

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Crowdfunding, Equity Offerings, Security issuance, Private Equity; Public Equity; Entrepreneurial Finance

2.

Information Cascades Among Investors in Equity Crowdfunding

Number of pages: 49 Posted: 05 Apr 2015
Silvio Vismara
University of Bergamo
Downloads 1,110 (21,827)
Citation 49

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Crowdfunding, Information cascades, Crowdcube, Signaling, Entrepreneurial finance.

3.

IPO Pricing: Growth Rates Implied in Offer Prices

Number of pages: 33 Posted: 06 Mar 2008 Last Revised: 09 Apr 2010
Giordano Maria Cogliati, Stefano Paleari and Silvio Vismara
University of Bergamo - Department of Economics and Technology Management, University of Bergamo - SIGE Sezione di Ingegneria Gestionale and University of Bergamo
Downloads 1,005 (25,265)
Citation 2

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Initial Public Offerings (IPOs), valuation, growth rates

4.

The Operating Performance of Initial Public Offerings: The UK Experience

Universita di Bergamo Working Paper
Number of pages: 29 Posted: 19 Nov 2003
Arif Khurshed, Stefano Paleari and Silvio Vismara
University of Manchester - Manchester Business School, Division of Accounting Finance, University of Bergamo - SIGE Sezione di Ingegneria Gestionale and University of Bergamo
Downloads 902 (29,525)
Citation 6

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Initial Public, Going public, Operating Performance

5.

Does Ownership Structure Affect Ipo Valuation?

Number of pages: 21 Posted: 05 Mar 2008
Michele Meoli, Stefano Paleari and Silvio Vismara
University of Bergamo, University of Bergamo - SIGE Sezione di Ingegneria Gestionale and University of Bergamo
Downloads 831 (33,084)
Citation 1

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Ipo, Valuation, Ownership Structure

6.

The Operating and Shareprice Performance of Initial Public Offerings: The UK Experience

Number of pages: 29 Posted: 24 May 2005
Arif Khurshed, Stefano Paleari and Silvio Vismara
University of Manchester - Manchester Business School, Division of Accounting Finance, University of Bergamo - SIGE Sezione di Ingegneria Gestionale and University of Bergamo
Downloads 709 (41,035)
Citation 8

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Initial Public Offerings (IPOs), going public, operating performance, long-run

7.

Equity Retention and Social Network Theory in Equity Crowdfunding

Number of pages: 25 Posted: 02 Sep 2015
Silvio Vismara
University of Bergamo
Downloads 615 (49,615)
Citation 29

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Equity, Crowdfunding, Signaling, Network theory, National Systems of Entrepreneurship, Entrepreneurial finance

8.

Economies of Scope and IPO Activity in Europe

Number of pages: 29 Posted: 02 Nov 2012
Jay R. Ritter, Andrea Signori and Silvio Vismara
University of Florida - Department of Finance, Insurance and Real Estate, Catholic University of Milan and University of Bergamo
Downloads 470 (69,577)
Citation 9

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IPOs, initial public offerings, IPO volume, trade sales, M&A, economies of scope, financial regulation, European markets

9.

Europe's Second Markets for Small Companies

Downloads 443 ( 74,758)
Citation 59

Europe's Second Markets for Small Companies

Number of pages: 49 Posted: 09 Nov 2011 Last Revised: 05 Jan 2012
Silvio Vismara, Stefano Paleari and Jay R. Ritter
University of Bergamo, University of Bergamo - SIGE Sezione di Ingegneria Gestionale and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 442 (74,249)
Citation 1

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stock exchanges, second markets, financial regulation, IPOs, AIM, London Stock Exchange, Neuer Markt

Europe's Second Markets for Small Companies

European Financial Management, Vol. 18, Issue 3, pp. 352-388, 2012
Number of pages: 37 Posted: 19 May 2012
Silvio Vismara, Stefano Paleari and Jay R. Ritter
University of Bergamo, University of Bergamo - SIGE Sezione di Ingegneria Gestionale and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 1 (770,876)
Citation 7
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stock exchanges, second markets, financial regulation, IPOs, AIM, London Stock Exchange, Neuer Markt

10.

The Geography of Initial Coin Offerings

Number of pages: 34 Posted: 23 Jul 2018
Winifred Huang, Michele Meoli and Silvio Vismara
University of Bath, University of Bergamo and University of Bergamo
Downloads 396 (85,344)
Citation 24

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Initial Coin Offerings, ICOs, Entrepreneurial Finance, Crowdfunding, Geography

11.

Governmental Venture Capital for Innovative Young Firms

Journal of Technology Transfer, Forthcoming
Number of pages: 19 Posted: 26 Jul 2014 Last Revised: 20 Nov 2014
Massimo G. Colombo, Douglas J. Cumming and Silvio Vismara
Politecnico di Milano, Florida Atlantic University and University of Bergamo
Downloads 391 (86,578)
Citation 6

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VC, GVC, intervention, entrepreneurial finance, IPOs

12.

De-Segmenting Research in Entrepreneurial Finance

Number of pages: 18 Posted: 02 Mar 2016
Douglas J. Cumming and Silvio Vismara
Florida Atlantic University and University of Bergamo
Downloads 336 (103,022)
Citation 5

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Entrepreneurial Finance; Crowdfunding; VCs; IPOs; Equity crowdfunding; M&As

13.

A Research Journey into Entrepreneurial Finance

Number of pages: 16 Posted: 29 Feb 2016
Douglas J. Cumming and Silvio Vismara
Florida Atlantic University and University of Bergamo
Downloads 308 (113,284)
Citation 2

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Entrepreneurial Finance, IPOs, VCs, Private Equity, Crowdfunding, Equity Crowdfunding, M&As

14.

What Do Crowdfunding Platforms Do? A Comparison between Investment-Based Platforms in Europe

Number of pages: 30 Posted: 20 Jun 2017
Alice Rossi and Silvio Vismara
University of Bergamo, Students and University of Bergamo
Downloads 288 (121,612)
Citation 6

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crowdfunding, entrepreneurial finance, equity crowdfunding, platforms

15.

Gender in Entrepreneurial Finance: Matching Investors and Entrepreneurs in Equity Crowdfunding

Forthcoming in Albert Link, eds., "Gender and Entrepreneurial Activity", Cheltenham, UK: Edward Elgar
Number of pages: 27 Posted: 05 Sep 2016
Silvio Vismara, Davide Benaroio and Federica Carne
University of Bergamo, University of Bergamo, Students and University of Bergamo, Students
Downloads 272 (129,194)
Citation 5

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crowdfunding, equity crowdfunding, gender, diversity, crowdinvesting

16.

The Exit Choices of European Private Firms: A Dynamic Empirical Analysis

Number of pages: 76 Posted: 28 Nov 2014 Last Revised: 08 Mar 2019
Thomas J. Chemmanur, Andrea Signori and Silvio Vismara
Boston College - Carroll School of Management, Catholic University of Milan and University of Bergamo
Downloads 270 (130,254)
Citation 4

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Private firm exits; initial public offerings (IPOs); post-IPO acquisitions; delistings

17.

Motives to Invest in Initial Coin Offerings (ICOs)

Number of pages: 37 Posted: 11 Dec 2018
Christian Fisch, Christian Masiak, Silvio Vismara and Jorn H. Block
University of Trier - Faculty of Management, University of Trier - Faculty of Management, University of Bergamo and University of Trier - Faculty of Management
Downloads 234 (150,145)
Citation 5

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Initial coin offering (ICO), entrepreneurial finance, investment motives, distributed ledger technology (DLT), blockchain, cryptocurrency, Ethereum, factor analysis

18.

Sustainability in Equity Crowdfunding

Number of pages: 37 Posted: 12 Mar 2018
Silvio Vismara
University of Bergamo
Downloads 231 (151,992)
Citation 4

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Crowdfunding, Equity Crowdfunding, Sustainability, Crowdcube, Seedrs, Entrepreneurial Finance

19.

M&A Synergies and Trends in IPOs

Number of pages: 27 Posted: 12 May 2016
Andrea Signori and Silvio Vismara
Catholic University of Milan and University of Bergamo
Downloads 205 (170,304)

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IPOs, M&As, YICs, NTBFs, Relatedness, Synergies, Security issuance, Public Equity, Entrepreneurial Finance

20.

The Impact of Venture Capital Monitoring in Europe

Number of pages: 29 Posted: 27 Jan 2017
Massimo G. Colombo, Diego D'Adda, Paolo Malighetti, Anita Quas and Silvio Vismara
Politecnico di Milano, Polytechnic University of Marche, University of Bergamo, University of Milan and University of Bergamo
Downloads 201 (173,483)
Citation 2

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Venture Capital, Monitoring, Europe, Corporate Venture Capital, Cross-Border Investments

21.

Does Equity Crowdfunding Democratize Entrepreneurial Finance?

Downloads 194 (179,245)
Citation 4

Does Equity Crowdfunding Democratize Entrepreneurial Finance?

Number of pages: 38 Posted: 24 Sep 2018
Douglas J. Cumming, Michele Meoli and Silvio Vismara
Florida Atlantic University, University of Bergamo and University of Bergamo
Downloads 131 (250,084)
Citation 3

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Does Equity Crowdfunding Democratize Entrepreneurial Finance?

Number of pages: 38 Posted: 04 Dec 2018
Douglas J. Cumming, Silvio Vismara and Michele Meoli
Florida Atlantic University, University of Bergamo and University of Bergamo
Downloads 63 (400,916)
Citation 1

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crowdfunding, equity crowdfunding, entrepreneurial finance, democratizaion, gender, geography, investment crowdfunding

22.

Signaling to Overcome Inefficiencies in Crowdfunding Markets

Forthcoming in Handbook of Crowdfunding. 2017. Edited by Douglas Cumming and Lars Hornuf: Palgrave
Number of pages: 26 Posted: 14 Jul 2017
Silvio Vismara
University of Bergamo
Downloads 191 (181,691)
Citation 2

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crowdfunding; equity crowdfunding; entrepreneurial finance; signalling

23.

Are IPO Underwriters Paid for the Services They Provide?

Number of pages: 25 Posted: 20 Feb 2012
Michele Meoli, Andrea Signori and Silvio Vismara
University of Bergamo, Catholic University of Milan and University of Bergamo
Downloads 167 (204,344)

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IPOs, Underwriters, Investment banks, Gross spread, Price stabilization

24.

Financial Regulation and IPOs: Evidence from the History of the Italian Stock Market

Number of pages: 44 Posted: 18 Dec 2014 Last Revised: 19 Dec 2014
Mattia Cattaneo, Michele Meoli and Silvio Vismara
University of Bergamo, University of Bergamo and University of Bergamo
Downloads 155 (217,620)
Citation 2

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IPOs; Regulation; Survival; Investor protection; Italy

25.

Completing the Technology Transfer Process: M&As of Science-Based IPOs

Number of pages: 29 Posted: 15 Feb 2012
Michele Meoli, Stefano Paleari and Silvio Vismara
University of Bergamo, University of Bergamo - SIGE Sezione di Ingegneria Gestionale and University of Bergamo
Downloads 121 (264,537)
Citation 8

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26.

European Initial Public Offerings

Number of pages: 11 Posted: 25 Jul 2015
Silvio Vismara
University of Bergamo
Downloads 119 (267,804)

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IPOs, valuation, regulation, entrepreneurial finance, crowdfunding

27.

Do Regulatory Changes Affect the Underpricing of European IPOs?

Journal of Banking and Finance, Vol. 45, No. 1, 2014
Number of pages: 54 Posted: 05 Jun 2015
Ali C. Akyol, Tommy Cooper, Michele Meoli and Silvio Vismara
University of Ottawa, University of Alabama - Department of Economics, Finance and Legal Studies, University of Bergamo and University of Bergamo
Downloads 119 (267,804)
Citation 2

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Initial public offerings, corporate governance, regulation, asymmetric information, underpricing

28.

Changes in Underwriters’ Selection of Comparable Firms Pre- and Post-IPO: Same Bank, Same Company, Different Peers

Number of pages: 35 Posted: 18 Dec 2014
Silvio Vismara, Andrea Signori and Stefano Paleari
University of Bergamo, Catholic University of Milan and University of Bergamo - SIGE Sezione di Ingegneria Gestionale
Downloads 114 (276,064)

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Initial Public Offerings, valuation, underwriters, analyst, comparables

29.

The CEO Beauty Premium

Number of pages: 50 Posted: 19 Aug 2020 Last Revised: 05 Oct 2020
Massimo G. Colombo, Christian Fisch, Paul P. Momtaz and Silvio Vismara
Politecnico di Milano, University of Trier - Faculty of Management, University of California, Los Angeles (UCLA) - Anderson School of Management and University of Bergamo
Downloads 107 (290,549)
Citation 2

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CEO attractiveness, beauty premium, Upper Echelons Theory (UET), Initial Coin Offering (ICO), firm valuation

30.

What Happens After a Crowdfunding Campaign?

Forthcoming chapter in the Handbook of Research on Crowdfunding (Edited by Annaleena Parhankangas, Colin Mason & Hans Landström).
Number of pages: 28 Posted: 16 Jan 2019
Tom R. Vanacker, Silvio Vismara and Xavier Walthoff‐Borm
Ghent University, University of Bergamo and Ghent University - Faculty of Economics and Business Administration
Downloads 101 (300,115)

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equity crowdfunding

31.

Stock-Financed M&As of Newly Listed Firms

Number of pages: 36 Posted: 06 Dec 2015
Andrea Signori and Silvio Vismara
Catholic University of Milan and University of Bergamo
Downloads 101 (300,115)
Citation 2

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Mergers & Acquisitions, M&As, IPOs, liquidity, method of payment

32.

Signalling in Science-Based IPOs: The Combined Effect of Affiliation with Prestigious Universities, Underwriters, and Venture Capitalists

Number of pages: 54 Posted: 30 Jun 2016
Massimo G. Colombo, Michele Meoli and Silvio Vismara
Politecnico di Milano, University of Bergamo and University of Bergamo
Downloads 97 (308,141)
Citation 8

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IPO, signalling, valuation, underwriter, venture capitalist, academic entrepreneurship, spinoff

33.

Crowdfunding in Healthcare

Number of pages: 24 Posted: 28 Feb 2018
Gaia Bassani, Nicoletta Marinelli and Silvio Vismara
University of Bergamo - Department of Law, University of Macerata - Department of Economics and Law and University of Bergamo
Downloads 90 (323,149)
Citation 2

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Crowdfunding, Healthcare, Entrepreneurial finance, Medicine, Policy

34.

Confidence and Capital Raising

Number of pages: 44 Posted: 02 Aug 2019
Winifred Huang, Silvio Vismara and Xingjie Wei
University of Bath, University of Bergamo and University of Leeds - Leeds University Business School (LUBS)
Downloads 77 (357,666)
Citation 1

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Capital raising, confidence, initial coin offerings, ICOs, alternative finance

35.

Investors’ Choices Between Cash and Voting Rights: Evidence from Dual-Class Equity Crowdfunding

Research Policy, Forthcoming
Number of pages: 66 Posted: 05 Apr 2019 Last Revised: 07 Apr 2019
Douglas J. Cumming, Michele Meoli and Silvio Vismara
Florida Atlantic University, University of Bergamo and University of Bergamo
Downloads 66 (386,299)
Citation 6

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Equity Crowdfunding, Crowdfunding, Corporate Governance, Entrepreneurial Finance, Voting Rights, Ownership and Control

36.

An Equity Crowdfunding Research Agenda: Evidence From Stakeholder Participation in the Rulemaking Process

Cummings, M.E., Rawhouser, H., Vismara, S. et al. Small Bus Econ (2019). DOI: 10.1007/s11187-018-00134-5
Number of pages: 44 Posted: 07 Jan 2019 Last Revised: 14 Jan 2019
Michael E. Cummings, Hans Rawhouser, Silvio Vismara and Erin Hamilton
University of Arkansas - Sam M. Walton College of Business, Lee Business School - University of Nevada Las Vegas, University of Bergamo and University of Nevada, Las Vegas
Downloads 44 (464,576)
Citation 1

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crowdfunding, equity crowdfunding, entrepreneurial finance, regulation, qualitative content analysis

37.

Voting Rights Delivery in Investment-Based Crowdfunding: A Cross-Platform Analysis

Number of pages: 38 Posted: 12 Nov 2018
Alice Rossi, Silvio Vismara and Michele Meoli
University of Bergamo, University of Bergamo and University of Bergamo
Downloads 41 (477,296)
Citation 4

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crowdfunding, corporate governance, equity crowdfunding, investment crowdfunding, entrepre-neurial finance

38.

Financial Literacy and Security-based Crowdfunding

Number of pages: 52 Posted: 13 Nov 2020
Michele Meoli, Alice Rossi and Silvio Vismara
University of Bergamo, University of Bergamo and University of Bergamo
Downloads 38 (490,729)

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Corporate Governance, Crowdfunding, Financial Literacy, Platforms, Survival Profile

39.

Does Blockchain Technology Democratize Entrepreneurial Finance? An Empirical Comparison of ICOs, Venture Capital, and REITs

Number of pages: 38 Posted: 06 Nov 2020
Christian Fisch, Michele Meoli and Silvio Vismara
University of Trier - Faculty of Management, University of Bergamo and University of Bergamo
Downloads 33 (514,637)

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Digital Finance, Initial Coin Offerings, Entrepreneurial Finance, ICOs, Democratization, Gender, Ethnical Minorities, Remote Entrepreneurship

40.

Valuation Accuracy and Infinity Horizon Forecast: Empirical Evidence from Europe

Journal of International Financial Management & Accounting, Vol. 20, Issue 2, pp. 135-165, Summer 2009
Number of pages: 31 Posted: 27 Apr 2009
Lucio Cassia and Silvio Vismara
University of Bergamo - SIGE Sezione di Ingegneria Gestionale and University of Bergamo
Downloads 4 (705,135)
Citation 2
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41.

Valuing University‐Based Firms: The Effects of Academic Affiliation on IPO Performance

Entrepreneurship Theory and Practice, Vol. 35, Issue 4, pp. 755-776, 2011
Number of pages: 22 Posted: 14 Jul 2011
Damiano Bonardo, Stefano Paleari and Silvio Vismara
affiliation not provided to SSRN, University of Bergamo - SIGE Sezione di Ingegneria Gestionale and University of Bergamo
Downloads 3 (713,305)
Citation 4
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42.

Equity crowdfunding: New evidence from US and UK markets

Number of pages: 47
Alice Rossi, Tom R. Vanacker and Silvio Vismara
University of Bergamo, Ghent University and University of Bergamo
Downloads 3

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Equity Crowdfunding, Entrepreneurial Finance, US, New Ventures, Startup Financing

43.

Can Spending Time in the Minors Pay Off? An Examination of the Canadian Junior Public Equity Markets

Journal of Small Business Management, Vol. 56, pp. 88-107, 2018
Number of pages: 20 Posted: 30 Mar 2018
Michele Meoli, J. Ari Pandes, Michael J. Robinson and Silvio Vismara
University of Bergamo, University of Calgary - Haskayne School of Business, University of Calgary - Haskayne School of Business and University of Bergamo
Downloads 1 (735,735)
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44.

The Effects of Stricter Regulation on the Going Public Decision of Small and Knowledge‐Intensive Firms

Journal of Business Finance & Accounting, Vol. 47, Issue 1-2, pp. 188-217, 2020
Number of pages: 30 Posted: 27 May 2020
Peter‐Jan Engelen, Michele Meoli, Andrea Signori and Silvio Vismara
Utrecht University, University of Bergamo, Catholic University of Milan and University of Bergamo
Downloads 0 (753,834)
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Europe, IPOs, regulation, SOX, underpricing, valuation

45.

The Board Value Protection Function in Young, Mature and Family Firms

British Journal of Management, Vol. 30, Issue 2, pp. 437-458, 2019
Number of pages: 22 Posted: 11 May 2019
Marcel Hülsbeck, Michele Meoli and Silvio Vismara
University of Augsburg - Faculty of Business and Economics, University of Bergamo and University of Bergamo
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46.

The Effects of the Specialization of Private Equity Firms on Their Exit Strategy

Downloads 0 (753,834)
Citation 1

The Effects of the Specialization of Private Equity Firms on Their Exit Strategy

Journal of Business Finance & Accounting, Vol. 43, Issue 9-10, pp. 1420-1443, 2016
Number of pages: 24 Posted: 10 Nov 2016
Damiana Rigamonti, Elena Cefis, Michele Meoli and Silvio Vismara
Aarhus University - School of Business and Social Sciences, University of Bergamo - Department of Economics, University of Bergamo and University of Bergamo
Downloads 0
Citation 1
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private equity, exit strategy, specialization, LBOs, competing risks

The Effects of the Specialization of Private Equity Firms on Their Exit Strategy

Journal of Business Finance and Accounting (Forthcoming)
Posted: 22 Oct 2016
Damiana Rigamonti, Elena Cefis, Michele Meoli and Silvio Vismara
Aarhus University - School of Business and Social Sciences, University of Bergamo - Department of Economics, University of Bergamo and University of Bergamo

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Private Equity, Exit Strategy, Specialization, LBOs, Competing Risks

47.

Ranking Underwriters of European IPOs

European Financial Management, Vol. 20, Issue 5, pp. 891-925, 2014
Number of pages: 35 Posted: 31 Oct 2014
Katrin Migliorati and Silvio Vismara
University of Bergamo and University of Bergamo
Downloads 0 (753,834)
Citation 3
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IPOs, underwriters, underpricing, AIM

48.

Board Independence, Ownership Structure and the Valuation of IPOs in Continental Europe

Corporate Governance: An International Review, Vol. 22, Issue 2, pp. 116-131, 2014
Number of pages: 16 Posted: 08 Mar 2014
Fabio Bertoni, Michele Meoli and Silvio Vismara
EM Lyon (Ecole de Management de Lyon) - Department of Economics, Finance, Control, University of Bergamo and University of Bergamo
Downloads 0 (753,834)
Citation 4
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Corporate Governance, Board Composition, Shareholder Value, Agency Theory, Resource Dependence Theory