Purpose – The purpose of this paper is to model asymmetric information and study the profitability of venture capital (VC) backed initial public offerings (IPOs). The mixtures approach endogenously separates IPOs into differentiated groups based on their returns’ determinants. The authors...

Purpose The purpose of this paper is to explain whether the level of managerial quality and growth opportunities influences the operating and return performance between single and dual class IPOs. Design/methodology/approach The sample includes 281 initial public offerings under a dual class...

Purpose – The purpose of this paper is to jointly assess the impact of regulatory reform for corporate fundraising in Australia ( CLERP Act 1999) and the relaxation of ASX admission rules in 1999, on the accuracy of management earnings forecasts in initial public offer (IPO) prospectuses. The...

Purpose The purpose of this paper is to investigate how venture capital (VC) backing influences the board size and independence and how VC backing and board structure impact firm performance in China. Design/methodology/approach Using hand-collected data from 924 initial public offering (IPO)...

This paper analyses the valuation process of companies listed on the Italian Exchange in the period 2000–2009 at their initial public offering (IPO). One the most common valuation techniques declared in the IPO prospectus to determine the offer price is the discounted cash flow (DCF) method....