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...

This study examines the differences between IPOs that voluntarily disclose earnings forecasts in their prospectuses and those that do not. Using a sample of 166 UK IPOs listed between 1992-2002, we investigate whether forecasters have different firms' characteristics than non forecasters and...

We analyze exit-related perceptions of the members of a large, well-structured Canadian angel group. Because they invest in high tech deals larger than CAN$1.2 million, together with venture capitalists and a matching fund, these angels should consider the initial public offering (IPO) as a...

The paper investigates the role of Top Management Teams (TMTs) characteristics behind market performance of IPOs on a secondary market. After highlighting the main differences between entrepreneurial and managerial companies, we identify effective drivers related to TMT characteristics able to...

Is the decision to go public or private a stock market driven 'side-show' or does it have significant effects on investment and profitability‘ We address this issue using a comprehensive dataset of private and public companies in the UK during 1996-2006. Firms with high investment-financing...

Initial Public Offerings are, by definition, not seasoned securities. They have not been subjected to valuation by the community of investors. It is often difficult or impossible to forecast their future cash flows because most do not have a long history of publicly disclosed financial...

This paper empirically investigates the difference of the performance between shari'ah-based and non shari'ah-based IPO firms. The sample made IPOs in the Jakarta Stock Exchange (JSX) between July 2001 and December 2005. The sample consists of 8 shari'ah-based and 37 non shari'ah-based IPO...