Basnet, Anup; Blomkvist, Magnus; Cumming, Douglas J. - 2023
further indicate a significant role of capital and R&D expenditures for long-run VC-backed IPO performance …Prior literature (e.g., Brav and Gompers, 1997) establishes that the average VC-backed IPO does not outperform … these three conditions: (1) high- reputation VCs, (2) large VC syndicates, and (3) long pre-IPO holding periods. The data …