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Which of the following statement is NOT TRUE based on the table shown below a. Venture capital backed IPOs appear to perform better than non

Which of the following statement is NOT TRUE based on the table shown below

a. Venture capital backed IPOs appear to perform better than non VC-backed firms.

b. These results are based on a total of 8,497 IPO firms from 1980 to 2018.

c. IPO stocks tend to pop on the first day.

d. On average, IPO stocks tend to outperform after accounting for systematic risk over the next three years.

e. All statements are true.

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