-star coverage are more likely to be chosen to lead the next VC-backed deal. We find a positive relationship between underpricing and … all-star coverage for Top VCs, but not non-Top VCs. Top VCs tolerate higher levels of underpricing because the information … momentum generated by underpricing allows them to cash out at higher prices when the lockup expires …

upon lockup expiration. We argue that this was not a coincidence. Underwriters benefited from underpricing vis …

venture capitalists (VCs) has alleviative effects on the underpricing of technology-based IPOs due to VCs' certification role … exhibit underpricing; such studies have also attempted to identify the reasons for this underpricing phenomenon. Utilizing … research and development (R&D) can be important factors that influence IPO underpricing. However, these studies have not …

codes by Member States of the European Union (EU) have affected IPO underpricing on Member State-regulated markets, where … underpricing declined on Member State-regulated markets after Member States adopted corporate governance codes containing SOX …-like provisions. We do not find a similar reduction in IPO underpricing on exchange-regulated markets. Our results are robust to …

bears a certification value, while deeply changing the contractual features of the loan over time, to the benefit of …