Working Paper
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...
Read moreWe exploit the staggered introduction of liability waivers when investors hold stakes in conflicting business opportunities as a shock to venture...
Read moreProspectus 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...
Read moreLock-in agreements in venture capital-backed UK IPOs
This paper examines the impact of venture-capital (VC) backing on the characteristics of voluntary lock-in agreements entered into by the existing...
Read moreThe 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...
Read moreThe Effects of Management-Board Ties on IPO Performance
This paper studies the two potentially contrasting effects on IPO pricing and post-IPO operating performance of family ties as well as social ties the...
Read moreThe Perils of Small-Minority Controllers
This Article contributes to the long-standing and heated debate over dual-class companies by placing a spotlight on a significant set of dual-class...
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