Brav and Gompers (1997)analyse the short-run performance of venture-backed IPOs in comparison to non-venture-backed IPOs.

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Brav and Gompers (1997)analyse the long-run performance of venture-backed IPOs in comparison to non-venture-backed IPOs.The results support superior returns being earned by the venture-backed sample.Specifically,after five years post listing,venture-backed IPOs earn a cumulative return of 45% on average,compared to a return of only 23% for non-venture-backed IPOs.

Brav and Gompers (1997)analyse the Short-Run Performance of Venture-Backed IPOs