Borisov, Alexander; Ellul, Andrew; Sevilir, Merih - C.E.P.R. Discussion Papers - 2015
concerns, we use a novel dataset of private firms and compare employment growth of IPO firms with two different control groups … experience higher employment growth in the post-IPO period relative to each control group. Importantly, our results show that the … most likely channel for the realization of higher employment growth is the relaxation of financial constraints, allowing …