Key issues: What characterizes financial contracts issued by startup firms? What is the governance landscape when a venture capitalist is involved, and what changes occur following the VC's exit? What are the typical governance provisions in the charters of firms going public? What are the governance implications of "money left on the table," implied by the well-known underpricing of IPO firms? How do firms float new securities, and what are the governance implications the floatation method of choice?
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