Asymmetric information and mechanisms for its resolution in the initial public offering (IPO)
process are subjects of extensive research and debate. In this paper, we investigate the …

This paper examines performance effects of ownership concentration and two types of
private equity investors (venture capitalists and business angels) in firms that have recently …

Dividends of German firms are often perceived to be more flexible than those of Anglo-
American firms. We analyse the decision to change the dividend for 221 German firms over …

We examine IPO survival in a 'reputational'market, the Alternative Investment Market (AIM),
where principle‐based regulation pivots on the role of a regulatory agent, the nominated …

Lockups are agreements made by insiders of stock-issuing firms to abstain from selling
shares for a specified period of time after the issue. Brav and Gompers (2003) suggest that …

Founders can voluntarily exit their ventures via initial public offerings (IPOs). This study
builds on power theory to develop and test a model of founder exit using a dataset of 313 …

A lock-up agreement ensures that major shareholders retain significant economic interest in
the companies following the IPOs. Rationally, these insiders will not adhere to the lock-up …

Initial public offering (IPO) lock-up is a bonding mechanism that restricts pre-IPO
shareholders and insiders from selling a specific percentage of the shares over a stipulated …

Using a unique dataset, we examine financial performance, and venture capital involvement
in 167 MBOs exiting through IPOs (MBO‐IPOs) on the London Stock Exchange, during the …

We analyse the post‐issue operating performance of 316 venture‐backed and 274 non‐
venture UK IPOs 1985–2003. The finding of a statistically significant five‐year, operational …