Why Do Companies Go Public? An Empirical Analysis

Theory of the firm: Managerial behavior, agency costs and ownership structure

1976 • 62,465 citations

Legal Determinants of External Finance

1997 • 9,511 citations

What Do We Know about Capital Structure? Some Evidence from International Data

1995 • 6,521 citations

A Simple Model of Capital Market Equilibrium with Incomplete Information

1987 • 5,293 citations

INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION

1977 • 4,200 citations

Insiders and Outsiders: The Choice between Informed and Arm's‐Length Debt

1992 • 3,659 citations

Informational Asymmetries, Financial Structure, and Financial Intermediation

1977 • 3,499 citations

The Long‐Run Performance of initial Public Offerings

1991 • 3,447 citations

The New Issues Puzzle

1995 • 3,411 citations

Why new issues are underpriced

1986 • 2,752 citations

Market Liquidity and Performance Monitoring

1993 • 1,759 citations

The "Hot Issue" Market of 1980

1984 • 1,658 citations

Large Shareholders as Monitors: Is There a Trade‐Off between Liquidity and Control?

1998 • 1,473 citations

Grandstanding in the venture capital industry

1996 • 1,361 citations

Initial public offerings: International insights

1994 • 1,290 citations

INITIAL PUBLIC OFFERINGS

1988 • 1,285 citations

The hidden costs of stock market liquidity

1993 • 1,027 citations

The Value of the Voting Right: A Study of the Milan Stock Exchange Experience

1994 • 1,027 citations

Venture capitalists and the decision to go public

1994 • 1,014 citations

The Choice of Stock Ownership Structure: Agency Costs, Monitoring, and the Decision to Go Public

1998 • 939 citations

The Post‐Issue Operating Performance of IPO Firms

1994 • 910 citations

Insider Ownership and the Decision to Go Public

1995 • 908 citations

Blocks, Liquidity, and Corporate Control

1998 • 794 citations

Ownership and operating performance of companies that go public

1997 • 781 citations

The costs of going public

1987 • 723 citations

Analyst Following of Initial Public Offerings

1997 • 658 citations

Underpricing, ownership and control in initial public offerings of equity securities in the UK

1997 • 625 citations

What Determines the Value of Corporate Votes?

1995 • 622 citations

Information Disclosure Costs and the Choice of Financing Source

1995 • 553 citations

The Effect of Market Segmentation and Illiquidity on Asset Prices: Evidence from Exchange Listings

1994 • 432 citations

A comparison of equity carve-outs and seasoned equity offerings

1986 • 392 citations

The Long-Run Performance of Initial Public Offerings,

1991 • 274 citations

Optimal Investment Financing Decisions and the Value of Confidentiality

1979 • 253 citations

The Reverse LBO Decision and Firm Performance: Theory and Evidence

1993 • 251 citations

The Long‐Run Negative Drift of Post‐Listing Stock Returns

1995 • 194 citations

Going public in the 1980s: Evidence from Sweden

1995 • 172 citations

The flotation of companies on the stock market

1993 • 164 citations

The Choice of Going Public: Spin-Offs vs. Carve-Outs

1995 • 82 citations

Gli intermediari creditizi e la quotazione di borsa

1988 • 1 citations