The purpose of this monograph is to provide an overview of the IPO literature since 2000.
The fewer numbers of companies going public in recent years has raised many questions …

The last decade has seen the emergence of alternative sources of early-stage finance,
which are radically changing and resha** the start-up eco-system. These include …

Patents and citations are powerful tools increasingly used in financial economics (and
management research more broadly) to understand innovation. Biases may result, however …

The world's largest companies in 2019 by market capitalization-Apple, Alphabet, Microsoft,
and Amazon-all began as venture-backed startups.'They defied existing theory by growing …

We develop a valuation model for venture capital–backed companies and apply it to 135 US
unicorns, that is, private companies with reported valuations above $1 billion. We value …

The deregulation of securities laws—in particular the National Securities Markets
Improvement Act (NSMIA) of 1996—has increased the supply of private capital to late-stage …

We create a novel dataset to examine the recent rise in dual-class IPOs. We document that
dual-class firms have different types of controlling shareholders and wedges between voting …

The US entrepreneurial finance market has changed dramatically over the last two decades.
Entrepreneurs who raise their first round of venture capital retain 30% more equity in their …

Abstract “Founder-friendly” venture financings and nontraditional venture investors have
both flourished over the past decade. Using detailed contract data, we study open-end …

Entrepreneurship is thought to be a key driver of economic growth. While there are myriad
forms of entrepreneurship, ranging from self-employment to small and medium size …