Ownership Structure and the Life-Cycle of the Firm: ATheory of the Decision to go Public

This paper presents a theory of inititial public offerings based on the idea that the optimal ownership structure of a company changes over the life cycle of the firm. Insiders take the company public when they have lost the comparative advantage over outsiders in gathering information to evaluate the firm's growth prospects....

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Year of publication:	2001-03-29
Authors:	Maug, Ernst
Institutions:	Universität <Mannheim> / Lehrstuhl für Corporate Finance
Subject:	Going Public

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Extent:	363520 bytes 51 p. application/pdf
Series:	Universität Mannheim - Lehrstuhl für Corporate Finance - Publikationen
Type of publication:	Book / Working Paper
Language:	English
Classification:	G24 - Investment Banking; Venture Capital; Brokerage ; G32 - Financing Policy; Capital and Ownership Structure ; Financial theory ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005841036