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  1. Public versus private equity
    Author: Stulz, René M.
    Published: [2019]
    Publisher:  The Ohio State University, Fisher College of Business, Charles A. Dice Center for Research in Financial Economics, [Columbus, Ohio]

    The last twenty years or so have seen a sharp decline in public equity. I present a framework that explains the forces that cause the listing propensity of firms to change over time. This framework highlights the benefits and costs of a public... more

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    The last twenty years or so have seen a sharp decline in public equity. I present a framework that explains the forces that cause the listing propensity of firms to change over time. This framework highlights the benefits and costs of a public listing compared to the benefits and costs of financing with private equity. With this framework, the decline in public equity is explained by the increased supply of funds for private equity and changes in the nature of firms. The increase in the importance of intangible assets makes it costlier for young firms to be public when the alternative is funding through private equity from investors who have specialized knowledge that enables them to better understand the business model of young firms and contribute to the development of that business model in contrast to passive public equity investors

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Working papers series / Charles A. Dice Center for Research in Financial Economics ; WP 2019, 27
    Fisher College of Business Working Paper ; No. 2019-03-027
    Fisher College of Business working paper series ; WP 2019-03, 027
    Subjects: public equity; private equity; listing; agency costs; IPO; intangible assets
    Scope: 1 Online-Ressource (circa 32 Seiten)
  2. Venture capitalists investment incentives under public equity schemes
    Author: Schertler, Andrea
    Published: 2002
    Publisher:  Inst. of World Economics, Kiel

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  3. Venture Capitalists Investment Incentives Under Public Equity Schemes
    Author: Schertler, Andrea
    Published: 2002
    Publisher:  Kiel Institute for the World Economy (IfW), Kiel

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