Using data from US labour market areas, we quantify empirical associations between entry by small firms and a vector of economic performance measures encompassing levels, volatilities and growth rates of several income and employment variables. Distinct and robust associations are found for net...

The litigation risk hypothesis of IPO underpricing posits that issuers underprice IPOs in an effort to avoid costly litigation and that underpricing should be greater for issuers with ex-ante higher levels of litigation risk. This paper reexamines this hypothesis for IPO samples in the different...