Hartzell, Jay C.; Kallberg, Jarl G.; Liu, Crocker H. - In: Journal of Law and Economics 51 (2008) 3, pp. 539-562
This study analyzes the impact of corporate governance structures at the initial public offering (IPO) date. We test hypotheses that firms with more shareholder-oriented governance structures receive higher valuations at the IPO stage and have better long-term performance. Our sample is a set of...