This paper investigates the valuation and merger and acquisition (M&A) dynamics of the population of 254 biotech firms that went public in Europe between 1990 and 2009. Among these, we identify a high proportion (40%) of firms affiliated with a university or another public research organization....

This paper contributes to the literature on the legitimization of science-based firms, by investigating whether the affiliation by with prestigious universities affect their valuation at IPO, and how it interacts of the endorsements by prestigious underwriters and venture capitalists. Based on a...

The price stabilization service consists of purchasing shares in the aftermarket in order to prevent price drops, and it is not mandatory. Using a sample of Italian IPOs, we find that only half of the IPOs that require this service are actually stabilized after going public and that price...