View Item 

Show simple item record

The costs of going public

dc.contributor.authorRitter, Jay R.en_US
dc.date.accessioned2006-04-07T19:44:54Z
dc.date.available2006-04-07T19:44:54Z
dc.date.issued1987-12en_US
dc.identifier.citationRitter, Jay R. (1987/12)."The costs of going public." Journal of Financial Economics 19(2): 269-281. <http://hdl.handle.net/2027.42/26480>en_US
dc.identifier.urihttp://www.sciencedirect.com/science/article/B6VBX-45D0NDF-5/2/ab578610d64f0f68bdeb9d37378ce00fen_US
dc.identifier.urihttps://hdl.handle.net/2027.42/26480
dc.description.abstractThis paper presents evidence regarding the two quantifiable components of the costs of going public: direct expenses and underpricing. Together, these costs average 21.22% of the realized market value of the securities issued for firm commitment offers and 31.87% for best efforts offers. For a given size offer, the direct expenses are of the same order of magnitude for both contract types, but the underpricing is greater for best efforts offers. An explanation of why some firms choose to use best efforts offers in spite of their apparent higher total costs is given.en_US
dc.format.extent915866 bytes
dc.format.extent3118 bytes
dc.format.mimetypeapplication/pdf
dc.format.mimetypetext/plain
dc.language.isoen_US
dc.publisherElsevieren_US
dc.titleThe costs of going publicen_US
dc.typeArticleen_US
dc.rights.robotsIndexNoFollowen_US
dc.subject.hlbsecondlevelEconomicsen_US
dc.subject.hlbtoplevelBusinessen_US
dc.description.peerreviewedPeer Revieweden_US
dc.contributor.affiliationumUniversity of Michigan, Ann Arbor, MI 48109, USAen_US
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/26480/1/0000016.pdfen_US
dc.identifier.doihttp://dx.doi.org/10.1016/0304-405X(87)90005-5en_US
dc.identifier.sourceJournal of Financial Economicsen_US
dc.owningcollnameInterdisciplinary and Peer-Reviewed


Files in this item

Name:
0000016.pdf
Size:
894.4KB
Format:
PDF
View/Open

Show simple item record

Remediation of Harmful Language

The University of Michigan Library aims to describe library materials in a way that respects the people and communities who create, use, and are represented in our collections. Report harmful or offensive language in catalog records, finding aids, or elsewhere in our collections anonymously through our metadata feedback form. More information at Remediation of Harmful Language.

Accessibility

If you are unable to use this file in its current format, please select the Contact Us link and we can modify it to make it more accessible to you.