The Strategy of Going Public: How UK Firms Choose Their Listing Contracts
作者： Marc Goergen , Arif Khurshed , Ram Mudambi
DOI: 10.1111/J.1468-5957.2006.00657.X
关键词:
摘要: UK firms going public have a choice between offers and placings. This has important implications in terms of who bears the risk issue failing its costs. We find that with higher ex ante uncertainty choose placing contract. Highly reputable sponsors creditor screening serve as signals firm quality, enabling such to offer. Large multinational usually offer whereas there is some evidence very small issues placing. Finally, ‘hotness’ IPO market increases probability
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