أعرض تسجيلة المادة بشكل مبسط

dc.creator Ljungqvist, Alexander
dc.creator Boehmer, Ekkehart
dc.date 2004
dc.date.accessioned 2013-10-16T07:05:13Z
dc.date.available 2013-10-16T07:05:13Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19483
dc.identifier ppn:391524984
dc.identifier RePEc:zbw:bubdp1:2161
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19483
dc.description We test recent theories of when companies go public which predict that 1) more companies will go public when outside valuations are high or have increased, 2) companies prefer going public when uncertainty about their future profitability is high, and 3) firms whose controlling shareholders enjoy large private benefits of control are less likely to go public. Our analysis tracks a set of 330 privately-held German firms which between 1984 and 1995 announced their intention to go public to see whether, when, and how they subsequently sold equity to outside investors. Controlling for private benefits, we find that the likelihood of firms completing an initial public offering increases in the firm's investment opportunities and valuations. We also show that these effects are distinct from factors that increase firms' demand for outside capital more generally.
dc.language eng
dc.relation Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,16
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject G32
dc.subject ddc:330
dc.subject Going public decision
dc.subject IPO timing
dc.subject Private benefits
dc.subject Family firms
dc.subject Wertpapieremission
dc.subject Familienunternehmen
dc.subject Unternehmenswert
dc.subject Schätzung
dc.subject Deutschland
dc.title On the decision to go public: Evidence from privately-held firms
dc.type doc-type:workingPaper


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أعرض تسجيلة المادة بشكل مبسط