Do Public Firms Respond to Investment Opportunities More than Private Firms? The Impact of Initial Firm Quality
نویسندگان
چکیده
منابع مشابه
Do Public Firms Respond to Investment Opportunities More than Private Firms? The Impact of Initial Firm Quality
Using U.S. Census data, we track firms at birth and compare the growth pattern of IPO firms and their matched always-private counterparts over their life cycle. Firms that are larger at birth with faster initial growth are more likely to attain a larger size and to subsequently go public. We estimate a model to predict the propensity to become public (“public quality”) using initial conditions....
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for helpful comments and the Kauffman Foundation for financial support. Any opinions and conclusions expressed herein are those of the authors and do not necessarily represent the views of the U.S. Census Bureau. All results have been reviewed to ensure that no confidential information is disclosed. We thank Ryan Decker for his assistance developing the STATA code used in this paper.
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2017
ISSN: 1556-5068
DOI: 10.2139/ssrn.3093125