IPO

Why are the levels of control (so) different in German and UK companies? Evidence from initial public offerings

Lockup Clauses in Italian IPOs

Nepotism in IPOs: consequences for issuers and investors

IPO underwriters have an incentive to underprice IPOs when they allocate IPO shares to their affiliated funds. Using a novel hand-collected dataset, we...

Common Venture Capital Investors and Startup Growth

We exploit the staggered introduction of liability waivers when investors hold stakes in conflicting business opportunities as a shock to venture...

Shares' Allocation and Claw Back Clauses in Italian IPOs

Prospectus Liability and the Role of Gatekeepers as Informational Intermediaries: An Empirical Analysis of the Impact of the Statutory Provisions on Italian IPOs

This Article analyzes market reaction to the introduction into Italian legislation of a statutory system of (IPO) prospectus civil liability enacted...

The U.S. Left Behind: The Rise of IPO Activity Around the World

The Blurring Lines between Private and Public Ownership

As companies choose to stay private longer, they increasingly resemble their public counterparts. Along multiple dimensions, the shift from private...

Why are the French so Different from the Germans? Underpricing of IPOs on the Euro New Markets

The U.S. Listing Gap

The U.S. had 14% fewer exchange-listed firms in 2012 than in 1975. Relative to other countries, the U.S. now has abnormally few listed firms given its...

Pricing Corporate Governance

Scholars and practitioners have long theorized that by penalizing firms with unattractive governance features, the stock market incentivizes firms...

VC Board Representation and IPO Performance

This paper studies the impact of five dimensions of venture capitalist (VC) power on the likelihood of VC board representation in their portfolio firms...