The IPO market as a screening device and the going public decision: evidence from acquisitions of privately and publicly held firms

The main purpose of this paper is using a unique data set from IPO filings to study the IPO market as a screening device and the going public decision. We find that private firms that are less likely to have the option to access public equity markets receive 54 cents for each dollar they expected to...

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Bibliographic Details
Published in:	Review of quantitative finance and accounting Vol. 37; no. 3; pp. 325 - 361
Main Authors:	Mantecon, Tomas, Thistle, Paul D.
Format:	Journal Article
Language:	English
Published:	Boston Springer US 01-10-2011 Springer Nature B.V
Subjects:	Accounting/Auditing Acquisitions & mergers Adverse selection Bargaining Corporate Finance Econometrics Economic theory Economics and Finance Equity Finance Financing methods Firm value Going public Initial public offering Initial public offerings Mergers Operations Research/Decision Theory Original Research Private enterprises Private equity Public enterprises Sales Securities analysis Studies Valuation Screening Merger G32 Adverse selection IPO G34 Private equity
Online Access:	Get full text
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