The competitiveness of US capital markets can be impacted by IPO trends and listings of US companies and non-US companies on non US stock exchanges. Corporate Governance in the United States can influence listing decisions by management. A recent report from Wilson Sonsini (http://entrepreneur.typepad.com/files/ipo-survey-2012_web.pdf) on venture-backed IPOs has several interesting findings:
- 98% of these companies had adopted a code of business conduct.
- 94% of the companies are incorporated in Delaware
- Over 80% of the companies implemented a classified board in connection with the IPO.
- More companies separated the chairman and CEO roles than combined them.
- Venture capitalists who had invested in the companies are often represented on board committees (counting the VCs as independent,” despite their share ownership).
- IPO market started strong but faded in 2012 (utsandiego.com)
- IPOs Slowly Returning in Storm Aftermath (pehub.com)
- IPO Village | Now anyone can invest in an IPO (techzulu.com)