We examine how a firm's organizational complexity affects innovation portfolio decisions in response to an exogenous shock to innovation incentives. Using the 2013 medical device sales tax as a quasi-natural experiment, we find that firms with a complex organizational structure, as proxied by...

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...

<title>Abstract</title> Underpricing research to date relies on the assumption that there exist a negative relationship between the pricing of an initial public offering (IPO) and its first day returns. Consequently, little is known in the literature on IPOs as to which part of initial returns is due to...