Working Paper DOI Issue Date November Acknowledgements and Disclosures. Published Versions Journal of Finance , Vol. Does it differ from country to country?
Despite the importance of answering these questions, only few researchers … Expand. This paper examines the influence of stock markets on corporate performance. It compares large private and publicly listed companies in the UK. It finds that, controlling for size and industry, … Expand. Going public in the s: Evidence from Sweden. This article investigates the change in operating performance of firms as they make the transition from private to public ownership.
A significant decline in operating performance subsequent to the … Expand. Market Liquidity and Performance Monitoring. This paper studies the value of the stock market as a monitor of managerial performance. It shows that the stock price incorporates performance information that cannot be extracted from the firm's … Expand.
Initial public offerings: International insights. Abstract This paper discusses evidence on the short-run and long-run performance of companies going public in many countries.
Differences in average initial returns are analyzed in terms of binding … Expand. Insider Ownership and the Decision to Go Public. This paper focuses on the role of an initial public offering IPO in maximizing the proceeds an initial owner obtains in selling his company. In deciding whether to undertake an IPO, and what … Expand. View 5 excerpts, references results and background. The flotation of companies on the stock market : A coordination failure model.
Abstract In some countries the size of the stock market and the number of listed companies have persistently lagged behind the growth of the economy. Trading externalities can help explain this fact. View 2 excerpts, references background. The reverse LBO decision and firm performance: Theory and evidence. The authors investigate the transition from private to public ownership of companies that had previously been subject to leveraged buyouts.
They show that the information asymmetry problem firms face … Expand. Companies appear to go public not to finance future investments and growth, but rather to rebalance their accounts after a period of high investment and growth. IPOs are also followed by a reduction in the cost of credit and an increased turnover in control.
These findings highlight some important differences between the role played by the equity market in Italy and likely in other Continental European countries and in the United States. This paper is part of the research project on "The decision to go public and the stock market as a source of capital," promoted by the Ente "Luigi Einaudi" per gli studi monetari bancari e finanziari.
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