Baker, George P.; Kennedy, Robert E. - In: Journal of Law, Economics and Organization 18 (2002) 2, pp. 324-361
The 10-year survival rate for firms trading on the New York and American stock exchanges between 1963 and 1995 is only 61%. This article explores the process by which firms come to be delisted. We calculate the returns of firms from 10 years before delisting to their delisting date and show...