Why do firms go public?
Subtitle: evidence from the banking industry
By: Richard J. Rosen, Scott B. Smart, and  Chad J. Zutter
Contributors: Smart, Scott B.; Zutter, Chad J.; Federal Reserve Bank of Chicago. Research Department
Series: Working paper series -- WP-2005-17; Working paper series (Federal Reserve Bank of Chicago. Research Department : Online) -- WP-2005-17.
Publisher: Federal Reserve Bank of Chicago
Published: 2005
Place of publication: Chicago, Ill.]
Language: eng
Format: [electronic resource] :
Subjects: Going public (Securities); Banks and banking; Ownership
Description: "The lack of data on private firms has made it difficult to empirically examine theories of why firms go public. However, both public and private banks must disclose financial information to regulators. We exploit this requirement to explore the goingpublic decision. Our results indicate that banks that convert to public ownership are more likely to become targets than control banks that remain private. Banks that go public are also more likely to become acquirers than control banks. IPO banks grow faster than control banks after going public, although there is some evidence that their performance deteriorates."--Federal Reserve Bank of Chicago web site.
Notes: Title from PDF file as viewed on 10/5/2006.

Includes bibliographical references.

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