Duke University and Harvard University and NBER. Jay Ritter and Charles Lee provided access to data. Victor Hollender and Laura Miller provided research assistance. We thank Chris Géczy, J.B. Heaton, Steve Kaplan, Shmuel Kandel, Marc Lipson, Andrew Metrick, Mark Mitchell, Steve Orpurt, Jay Ritter, Raghu Rajan, Stephen Schurman, Andrei Shleifer, René Stulz, Richard Thaler, Rob Vishny, Luigi Zingales, an anonymous referee, and seminar participants at Boston University, Tel Aviv University, the University of Chicago, the University of Georgia, the University of Rochester, Virginia Tech, the NBER Corporate Finance Summer Institute, and the Financial Decision and Control Workshop at Harvard Business School for helpful comments and suggestions. Financial support was provided by the Center for Research in Security Prices, University of Chicago. Any errors or omissions are our own.
Myth or Reality? The Long-Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital-Backed Companies
Article first published online: 18 APR 2012
1997 The American Finance Association
The Journal of Finance
Volume 52, Issue 5, pages 1791–1821, December 1997
How to Cite
BRAV, A. and GOMPERS, P. A. (1997), Myth or Reality? The Long-Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital-Backed Companies. The Journal of Finance, 52: 1791–1821. doi: 10.1111/j.1540-6261.1997.tb02742.x
- Issue published online: 18 APR 2012
- Article first published online: 18 APR 2012
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