WebSep 22, 2008 · In equilibrium, even firms with sufficient internal capital to fund their new investment may go public, driven by the possibility of their product market competitors going public. IPO waves may arise in equilibrium even in industries which do not experience a productivity shock. WebMar 28, 2012 · IPO waves may arise in equilibrium even in industries which do not experience a productivity shock. Our model predicts that firms going public during an IPO wave will have lower productivity and post-IPO profitability but larger cash holdings than those going public off the wave; it makes similar predictions for firms going public later …
IPO Waves, Product Market Competition, and the Going …
WebDownloadable (with restrictions)! This study examines the impact of institutional features of the IPO market on patterns of IPO activity (waves). Decisions made by firms to enter the market by filing registration documents, adjusting terms while remaining in registration or exiting the market through issuance or withdrawal affect the “value in registration” of … WebWe offer a new perspective on why initial public offerings (IPOs) occur in waves and propose that the customer-supplier relationships among industries help propagate IPO waves. Our empirical tests provide evidence that demand shocks increase the … fnaf security breach vanessa bikini
IPO waves and the issuance process - ScienceDirect
WebMar 28, 2012 · IPO waves may arise in equilibrium even in industries which do not experience a productivity shock. Our model predicts that firms going public during an IPO … WebFeb 4, 2024 · We classify IPOs within industry IPO waves and within local IPO waves, and see that the sub-samples of IPOs on the wave by industry only slightly overlap IPOs on the wave by region; IPO waves by region are similar to IPO waves by industry: for example, early-in-the-wave IPOs are equally more underpriced than late-in-the-wave IPOs. WebAug 25, 2024 · We examine the wave pattern of U.S. SPAC IPOs using a hand-collected data set of the entire SPAC population since their emergence in 2003. We find that both the … fnaf security breach vanny ending