Our 2022 IPO corporate governance survey reviews governance structures at the time of the IPO for the largest U.S.-listed IPOs of “controlled” and non-“controlled” companies between July 11, 2020 and September 30, 2022. As in our prior surveys, we found that companies continue to adopt anti-takeover defenses in advance of their IPOs, even as post-IPO companies generally face ongoing pressures to adopt more “shareholder friendly” practices.

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