). We do this by using the 5B-IPO program of the SEC as our instrument to define a small firm. Having identified small firms …, we test the three IPO anomalies to see if small firms differ from large firms along these dimensions. We find that 5B …

their IPO. Venture-backed firms survive longer, grow faster, are more R&D intensive, have generally superior operating … that the true legacy of venture capital finance extends well beyond the IPO. …

ventures public early. In this study, we examine this theory in the Japanese IPO market. With the introduction of MOTHERS and … able to examine the influence of these new markets on grandstanding and the IPO process. We find that young lead VC … underpriced. However, we do not find that young lead VCs have relatively lower equity stakes at IPO. This latter finding is most …

Motion (PLM) for a single new technology asset at IPO, yet they differ with respect to risk aversion. By mapping risk … assumption of complete knowledge of agent's tastes and wealth, post-IPO bubbles emerge where the Actual Law of Motion is an …

The goal of this paper is to examine the impact of Initial Public Offerings (IPO) on the investment strategies of young … using multivariate methods in order to study post-IPO investment behavior of a global sample of young Internet firms. …

proliferate. One often hears about the incredible capital gains of IPO share prices. This paper refutes the myth that investors …

IPO firm executives are significant net sellers in the year immediately following the IPO year. Two significant … restricted stocks turn out to be insignificant. The evidence suggests that IPO executives sell mainly to realize a significant …

This paper attempts to extend the Certification Paradigm--mainly used in the literature as an explanation for IPO …