Despite the sometimes intensive media coverage and exuberant storytelling around the industry, venture capital (VC) investors tend to operate in highly opaque markets. On this premise, this work contributes to the literature via a hand-collected dataset of about 3,600 EIF-backed VC investments...

The phenomena associated with the performance of newly listed companies has increased the interest of many researchers who have developed a vast literature on long-term underpricing and underperformance, which together with hot and cold issue markets, represent the three anomalies that have...

The effects of venture capital on a venture'sperformance and on its founder's returns beyond an initial public offering(IPO) are studied. A "founder performance" construct (comprisingfounder's financial and non financial returns) is proposed, which is used tomeasure and compare returns to...

It has been widely perceived that the management of an organization synthetically inflates the true underlying value of the firm at the juncture of private equity exits and that the private equity investors create value for themselves & then exit the firm at this synthetically inflated value....

Prior literature (e.g., Brav and Gompers, 1997) establishes that the average VC-backed IPO does not outperform benchmarks. In this paper, we show, by accounting for VC holdings, that the average VC-backed IPOs does outperform as long as the VC is still present. This outperformance continues...