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Interest Rates and Initial Public Offerings
Jovanovic, Boyan - 2004
neoclassical theory predicts …
Persistent link: https://www.econbiz.de/10012468395
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The Informational Content of Initial Public Offerings
Gale, Ian - 1990
The ability of capital markets to distinguish firms of different value by the size of their initial equity offerings is attenuated when insiders can sell equity more than once. A model is developed in which there is price risk from holding equity between periods. When the uncertainty is small....
Persistent link: https://www.econbiz.de/10012475778
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The Rise of Dual-Class Stock IPOs
Aggarwal, Dhruv; Eldar, Ofer; Hochberg, Yael V.; Litov, … - National Bureau of Economic Research - 2021
We create a novel dataset to examine the nature and determinants of dual-class IPOs. We document that dual-class firms have different types of controlling shareholders and wedges between voting and economic rights. We find that the founders' wedge is largest when founders have stronger...
Persistent link: https://www.econbiz.de/10012496163
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Initial Public Offerings : Investor Behavior and Underpricing
Shiller, Robert J. - 1988
A questionnaire survey of investors in initial public offerings (IPO's) was undertaken to learn about patterns of investor behavior that might be relevant to theories of their underpricing. Respondents were asked for their perception of the allocation process, their concern with stockbroker or...
Persistent link: https://www.econbiz.de/10012476252
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Determinants of Privatization Prices
Lopez-de-Silane, Florencio - 1996
Generating government revenue is a common objective in privatization. This paper asks: what determines privatization … actions prior to privatization. The data, gathered from primary sources, encompass 361 privatized Mexican companies in 49 four …-digit industry codes. The determinants of auction privatization prices are divided into three groups: (1) company performance and …
Persistent link: https://www.econbiz.de/10012473365
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Government Ownership of Banks
Porta, Rafael La - 2000
In this paper, we investigate a neglected aspect of financial systems of many countries around the world: government … around the world. Second, such ownership is particularly significant in countries with low levels of per capita income …
Persistent link: https://www.econbiz.de/10012471151
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Why Do Companies Go Public? An Empirical Analysis
Pagano, Marco - 1995
This paper empirically analyzes the determinants of an initial public offering (IPO) and the consequences of this decision on a company's investment and financial policy. We compare both the ex ante and the ex post characteristics of IPOs with those of a large sample of privately held companies...
Persistent link: https://www.econbiz.de/10012473502
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The Evolution of Corporate Ownership After IPO : The Impact of Investor Protection
Foley, C. Fritz - 2008
Recent research documents that ownership concentration is higher in countries with weak investor protection. However, drawing on panel data on corporate ownership in 34 countries between 1995 and 2006, we show this pattern does not hold for newly public firms, which tend to have concentrated...
Persistent link: https://www.econbiz.de/10012464091
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Why Do IPO Auctions Fail?
Jagannathan, Ravi - 2006
theory predicts. Both uniform price and discriminatory auctions are plagued by unexpectedly large fluctuations in the number …
Persistent link: https://www.econbiz.de/10012466504
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World Markets for Raising New Capital
Henderson, Brian J. - 2004
very important in security issuance decisions. Firms all around the world are more likely to issue equity prior to periods …
Persistent link: https://www.econbiz.de/10012468469