| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26317 |
| 来源ID | Working Paper 26317 |
| The Deregulation of the Private Equity Markets and the Decline in IPOs | |
| Michael Ewens; Joan Farre-Mensa | |
| 发表日期 | 2019-09-30 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | The deregulation of securities laws|in particular the National Securities Markets Improvement Act (NSMIA) of 1996|has increased the supply of private capital to late-stage private startups, which are now able to grow to a size that few private firms used to reach. NSMIA is one of a number of factors that have changed the going-public versus staying-private trade-off, helping bring about a new equilibrium where fewer startups go public, and those that do are older. This new equilibrium does not reflect an IPO market failure. Rather, founders are using their increased bargaining power vis-a-vis investors to stay private longer. |
| 主题 | Financial Economics ; Financial Institutions ; Corporate Finance |
| URL | https://www.nber.org/papers/w26317 |
| 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/583989 |
| 推荐引用方式 GB/T 7714 | Michael Ewens,Joan Farre-Mensa. The Deregulation of the Private Equity Markets and the Decline in IPOs. 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 | ||
| w26317.pdf（999KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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