Escobari, Diego; Serrano, Alejandro - In: Managerial Finance 42 (2016) 6, pp. 553-568
Purpose – The purpose of this paper is to model asymmetric information and study the profitability of venture capital (VC) backed initial public offerings (IPOs). The mixtures approach endogenously separates IPOs into differentiated groups based on their returns’ determinants. The authors...