A large number of newly listed firms have significant involvement in international business activity. In this paper, we examine the effect of international business activity on the pricing of initial public offerings (IPOs), post-IPO performance, and survival. In a large sample of U.S. IPOs over...

We examine the effect of export activity on the pricing of initial public offerings (IPOs) and their post-IPO performance and survival. On the one hand, foreign market operations diversify a firm's revenue base and the risk of domestic cash flow shocks and may also provide an entree into foreign...