Grandstanding in the venture capital industry

Volume: 42, Issue: 1, Pages: 133 - 156
Published: Sep 1, 1996
Abstract
null null I develop and test the hypothesis that young venture capital firms take companies pubic earlier than older venture capital firms in order to establish a reputation and successfully raise capital for new funds. Evidence from a sample of 433 IPOs suggests that companies backed by young venture capital firms are younger and more underpriced at their IPO than those of established venture capital firms. Moreover, young venture capital firms...
Paper Details
Title
Grandstanding in the venture capital industry
Published Date
Sep 1, 1996
Volume
42
Issue
1
Pages
133 - 156
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