| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25634 |
| 来源ID | Working Paper 25634 |
| Do Public Firms Respond to Industry Opportunities More Than Private Firms? The Impact of Initial Firm Quality | |
| Vojislav Maksimovic; Gordon M. Phillips; Liu Yang | |
| 发表日期 | 2019-03-11 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We track firms at birth and compare the growth pattern of IPO firms and their birth-matched counterparts. Firms that are larger at birth with faster initial growth are more likely to attain a larger size later in life and go public. Firms in the top percentile of predicted propensity to go public grow 29 times larger fifteen years later than matched firms if they actually become public, and 14 times larger if they stay private, showing a large selection effect. We show that public firms, and especially those public firms backed by venture capital, respond more to demand shocks post-IPO. |
| 主题 | Financial Economics ; Financial Institutions ; Corporate Finance ; Industrial Organization ; Market Structure and Firm Performance ; Firm Behavior |
| URL | https://www.nber.org/papers/w25634 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/583307 |
| 推荐引用方式 GB/T 7714 | Vojislav Maksimovic,Gordon M. Phillips,Liu Yang. Do Public Firms Respond to Industry Opportunities More Than Private Firms? The Impact of Initial Firm Quality. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25634.pdf（485KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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