We investigate firms' pre-IPO corporate activity. We find that firms involved in extraordinary – i.e., beyond momentum – amounts of acquisitions, JVs, and alliances in the year leading up to their IPOs (1) are more likely to engage in post-IPO corporate activity; and (2) enter into their...

This paper examines cross-border mergers and acquisitions undertaken by U.S. companies todetermine whether geographic distance directly affects these firms' governance decisions.We find that U.S. firms tend to acquire higher stakes in geographically proximate targets than in remote ones.The...