The fields of venture capital and private equity are rooted in financing research on capital
budgeting and initial public offering (IPO). Both fields have grown considerably in recent …

In this article, I review the theoretical and empirical literature on the effects of public and
private equity markets on firm behavior, emphasizing the consequences that emerge from …

This study investigates whether a private firm's decision to go public affects the IPO
decisions of its competitors. Using detailed data from the drug development industry, we …

Venture capital-backed companies account for 41% of total US market capitalization and
62% of US public companies' R&D spending. Among public companies founded within the …

The US entrepreneurial finance market has changed dramatically over the last two decades.
Entrepreneurs who raise their first round of venture capital retain 30% more equity in their …

We create a novel dataset to examine the recent rise in dual-class IPOs. We document that
dual-class firms have different types of controlling shareholders and wedges between voting …

Moving beyond the combination of adoption subsidies, standards, and (albeit limited)
attempts at carbon pricing that largely characterized US climate policy over the past decade …

Corporate law has embraced private ordering-tailoring a firm's corporate governance to
meet its individual needs. Firms are increasingly adopting firm-specific governance through …

We review the growing literature on the relationship between venture capital (VC) booms
and start-up financing, focusing on three broad areas. First, we discuss the drivers of large …

We quantify the costs of major disclosure and governance regulations by exploiting a
regulatory quirk: many rules trigger when a firm's public float exceeds a threshold …