Table 6: The relationship between the presence of a founding family and the post-IPO institutional interest in the firm The dependent variable is the percentage of shares outstanding held by institutional investors at the end of the first quarter after going public (INSTP). FAMILY is a dummy variable that takes on a value of one if the founding family is present in the firm at the time of the IPO, and zero otherwise. The reported regression splits the sample by the type of the founding family presence, with the definition of FAMILY in each regression indicated at the top of the cohmn. FCEO, FCEO&CHAIR, and FCHAIR refer to founder-CEO, founder-CEO-and-chairman, and founder chairman, respectively. VC is a dummy variable that takes on a vahe of one if the firm had venture capital backing at the time of going public, and zero otherwise. SIGNIF is a dummy variable that takes on a value of one if the firm had corporate shareholders at the time of going public, and zero otherwise. FAMILY VC is a product of FAMILY an