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Jurnal

Journal of Financial Economics

Keyword

Pengarang

  1. Craig Doidge
  2. G. Andrew Karolyi
  3. René M. Stulz

    Subject

    1. ECONOMIC
    2. FINANCIAL

      [Abstrak]

      Relative to other countries, the U.S. now has abnormally few listed
      firms. This “U.S. listing gap” is consistent with a decrease in the net
      benefit of a listing for U.S. firms. Since the listing peak in 1996, the
      propensity to be listed is lower for all firm size categories and
      industries, the new list rate is low, and the delist rate is high. The
      high delist rate accounts for 46% of the listing gap and the low new
      list rate for 54%. The high delist rate is explained by an unusually
      high rate of acquisitions of publicly listed firms.

      Periode

      Vol 123, Nomor 3, Tahun 2017

      [Berkas]

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      [Artikel lain]