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 moreCommon 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...
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 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 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...
Read morePricing Corporate Governance
Scholars and practitioners have long theorized that by penalizing firms with unattractive governance features, the stock market incentivizes firms...
Read moreVC 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...
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