This paper examines rent sharing in Private Investments in Public Equity (PIPEs) between newly public firms and private investors. The evidence suggests highly asymmetric rent sharing. Newly public firms earn a negative return of up to -15% in the first post-PIPE year, while investors benefit...

It is naturally expected that a listed parent company which depends on the profits from its listed subsidiaries should mirror the activities of listed subsidiaries as far as the market share price is concerned. Persistent stunted market share price growth for a material listed subsidiary would...

We show that users' reputations on the sharing economy platform of Airbnb are racially biased. We do so by comparing the ratings of vacation rentals cross-listed on two sharing economy platforms: Airbnb and HomeAway. Whereas on Airbnb, the social demographic characteristics of hosts are salient,...

Using the firm-level data of 33 countries over 10 years (from 2008-2017), we find that the listed firms, on average, have lower marginal products of capital (measured by return on assets) than the unlisted firms in many countries. This implies that the listed firms face less financial...

The purpose of this paper is to investigate the relationship between accounting conservatism and companies’ cross- listing decision and the mediating role of the corporate governance mechanisms: board of directors’ characteristics and ownership structure, on this relationship. Using a sample...