Does VC Reputation Affect Function of Lockup Agreement?

• Main Author: HE, Kejia
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2009
• Subjects: Abnormal return and volume; Lockup agreement; VC reputation; Finance and Financial Management; Portfolio and Security Analysis
• Online Access: https://ink.library.smu.edu.sg/etd_coll/11; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1010&context=etd_coll
• Institution: Singapore Management University

Instead of perceiving lockup agreement and VC-backing as exogenous variables, this paper employs the VC-backed IPO data and takes a closer examination on the specific effect of VC reputation, which impacts the choice of lockup length and return and volume abnormality around lockup expiry. Contrary t...