Using a unique dataset consisting of firms that went public on the European and Asian Stock Exchanges between 2007 and 2011, firms that remain private over the same period and companies which have been listed for at least 10 years, we investigate whether going public is riskier than remaining...

Over the last decade, socially responsible investments (SRIs) have become paramount to both professionals and academics. In the aftermath of the financial crisis of 2007-8, practitioners have become much more involved in new financial models that integrate returns and positive social and...

This paper investigates whether equity analysts promote or discourage CSR by analysing a unique and distinctive dataset which uses an international sample of firms incorporated in 46 countries. To establish causality, we rely on two natural experiments, i.e. brokerage mergers and closures, which...

This study analyses the determining factors of reserve errors in publicly listed property and casualty insurance companies in the U.S. This subject deserves special attention because the previous literature does not control for trade-offs between executive remuneration and other incentives...

This study analyses the role of private equity investors in solving asymmetric information problems and the relationship to underpricing, wealth loss for pre-existing shareholders and the cost of going public. According to certification theory, companies backed by private equity investors are...

This study documents corporate culture at the time of IPO and the relationship between corporate culture at the time of IPO and firm financial performance. Based on a sample of 1,157 US firms that went public between 1996 and 2011 and performance information through 2016, the data provide strong...

Using a sample of 1,593 US firms that go public between 1990 and 2007, we find that VC-backed IPOs experience less financial distress risk post-offering than do comparable non-VC-backed IPOs. After controlling for endogeneity, we find this is related to the screening done by VC-investors, who...

This paper investigates the determining factors of bank monitoring in small business lending. Unlike previous studies that have relied on proxies of a bank's monitoring effort, we use a large and unique data set that includes the number of monitoring contacts per year between a European bank and...

This study documents corporate culture at the time of IPO and the relationship between corporate culture at the time of IPO and firms' financial performance. Based on a sample of 1,355 US firms that went public between 1996 and 2011 and performance information to 2016, the data indicate strong...

Are private equity investors able to reduce the overall costs of going public? This hypothesis was tested, for the Italian market, on a sample of 155 Ipos (54 Vb and 101 Nvb) during the period 1999-2007. For each company we estimated the direct and indirect costs of listing. The main results are...