With a focus on small Initial Public Offerings (IPOs), this study analyzes the relationship among insider ownership, venture capitalists, and firm performance.Two hypotheses are formulated:venture capitalists are associated with better performance in small firms, and higher insider retention of...

Private Investments in Public Equity (PIPEs) have become an important source of financing for young, publicly traded firms whose poor operating performance may limit alternative financing options. We propose that firms are motivated to sell these securities to minimize costs associated with...