This study examines the differences between IPOs that voluntarily disclose earnings forecasts in their prospectuses and those that do not. Using a sample of 166 UK IPOs listed between 1992-2002, we investigate whether forecasters have different firms' characteristics than non forecasters and...

We investigate whether access to information prior to an IPO generates a trading advantage after the IPO. We find that limited partners (LPs) of venture capital funds obtain high returns when they invest in newly listed stocks backed by their funds. These returns are not explained by LPs'...