Table 1
Descriptive Statistics

 
 
 
 

Variable
 

(1)
All IPOs.
Mean (Std Dev)
N=267

(2)
Venture
Backed IPOs.
Mean (Std Dev)
N=81

(3)
Non-Venture
Backed IPOs.
Mean (Std Dev)
N=186
(4)
t-test for
difference in
Means (p-value).
(Venture Vs 
Non-Venture Backed)
(3)-(2)
DEBT
(Ratio)
0.725
(0.384)
0.586
(0.326)
0.783
(0.393)
4.33
(0.001)
ASSETS
(Million $)
115.910
(533.490)
34.347
(48.447)
150.289
(633.063)
2.54
(0.012)
SALESD
(Ratio)
0.497
(0.626)
0.677
(0.777)
0.421
(0.533)
-2.74
(0.007)
MARGIN_RISK
(Count)
2.498
(1.206)
2.851
(1.324)
2.344
(1.119)
-3.01
(0.003)
SALES_RISK
(Count)
2.565
(2.007)
3.716
(2.026)
2.065
(1.785)
-6.34
(0.001)
FINANCE_RISK
(Count)
3.273
(1.410)
3.271
(1.118)
3.274
(1.522)
0.02
(0.988)
INDUSTRY
(Code)
4587.086
(1752.304)
4349.012
(1695.526)
4687.903
(1770.394)
1.51
(0.134)
AGE
(Days)
6298.949
(6943.411)
3685.819
(2804.563)
7405.531
(7828.580)
5.83
(0.000)