Going Public The Theory and Evidence on Ho Companies Raise Equity Finance [Hardcover]

During its life, a company must make the critical decision of if, and when, to `go public' by listing themselves on the stock exchange. Two anomalies are apparent: that companies taking this route systematically initially underprice their shares and that over the longer term they under-perform other companies. This second edition ofGoing Publicinvestigates these issues in a non-technical manner.

1.I: THE IPO MARKETIntroduction
2. Stylized Facts
3.II: THEORY AND EVIDENCEAsymmetric Information
4. Institutional Explanations
5. Ownership and Control
6. Long-Run Performance
7.III: POLICY IMPLICATIONSPrivatization
8. Conclusions and Future Developments

Recent years have seen an enormous amount of research into the ways companies raise finance from stock markets. This book investigates the issues in a non-technical way. --Business Horizons

Tim Jenkinsonis a lecturer at the University of Oxford and Fellow in Economics at Keble College. He is also a Research Fellow of the Centre for Economic Policy Research in London. He is Managing Editor of theOxford Review of Economic Policyand member of the editorial board ofOxford EconomicPapers.

Alexander Ljungqvistis a Lecturer in Management Studies at the University of Oxford and Bankers Trust Fellow in Finance at Merton College.