After accounting for endogeneity in the IPO decision, areas hosting large companies that go public experience muted growth in employment, establishments, and population, relative to areas where firms remain private. These effects are most pronounced in low income areas. Establishment-level...

Transitioning to public ownership affects where firms invest. Post-IPO, we find that firms conduct more geographically diversifying acquisitions on the intensive and extensive margins, relative to both withdrawn IPO filings and seasoned matched peers. The effect is larger for IPO filers that are...

We find that areas hosting large companies that go public experience muted growth in employment, establishments, and population, relative to areas where similar firms remain private. These effects initiate in the tradable sector and follow in the non-tradable sector, are more pronounced in...

The overallotment option (OAO) gives underwriters the right to acquire additional shares from the issuing firm at the offer price (less underwriting fees) in order to meet any excess demand for an issue. Thus, underwriters can use overallotment options to stabilize market prices post-issue by...

Microstructure effects for 359 TSX listed IPO's in the period 1984-2002 are examined. Based on first day returns, earning positive mean returns is very difficult even when most IPO's are purchased at the offer price. Mean daily trade volume for the first five days of IPO trading is large...