Karolyi, G. Andrew; Doidge, Craig; Stulz, René M. - National Bureau of Economic Research (NBER) - 2011
During the past two decades, there has been a dramatic change in IPO activity around the world. Though vibrant IPO activity, attributed to better institutions and governance, used to be a strength of the U.S., it no longer is. IPO activity in the U.S. has fallen compared to the rest of the world...