Synopses & Reviews
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 of Going Public investigates these issues in a non-technical manner.
Review
"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
About the Author
Tim Jenkinson is 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 the
Oxford Review of Economic Policy and member of the editorial board of
Oxford Economic Papers.
Alexander Ljungqvist is a Lecturer in Management Studies at the University of Oxford and Bankers Trust Fellow in Finance at Merton College.
Table of Contents
1.
I: THE IPO MARKET Introduction
2. Stylized Facts
3. II: THEORY AND EVIDENCE Asymmetric Information
4. Institutional Explanations
5. Ownership and Control
6. Long-Run Performance
7. III: POLICY IMPLICATIONS Privatization
8. Conclusions and Future Developments