The DOI matches its Crossref record; 70 of the 70 references it cites were found in a registry or an index.
Political Uncertainty and IPO Activity: Evidence from U.S. Gubernatorial Elections
Open accessAbstract
We analyze initial public offering (IPO) activity under political uncertainty surrounding gubernatorial elections in the United States. There are fewer IPOs originating from a state when it is scheduled to have an election. To establish identification, we develop a neighboring-states method that uses bordering states without elections as a control group. The dampening effect of elections on IPO activity is stronger for firms with more concentrated businesses in their home states, firms that are more dependent on government contracts (particularly state contracts), and harder-to-value firms. This dampening effect is related to lower IPO offer prices (hence, higher costs of capital) during election years.
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Citations
Cites
Measuring Economic Policy Uncertainty*
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The Impact of Uncertainty Shocks
(2009) · Econometrica · doi:10.3982/ecta6248 · Cited by 5,834
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Metadata
- Authors
- Çolak, G., Durnev, A., & Qian, Y.
- Venue
- Journal of Financial and Quantitative Analysis
- Publisher
- Cambridge University Press (CUP)
- Published
- 2017-12
- Volume
- 52
- Issue
- 6
- Pages
- 2523-2564
- ISSN
- 0022-1090 (ISSN-L)
- 1756-6916
- OpenAlex
- W3123110761
- Cited by
- 486
- References
- 70
- FWCI
- 86.88
- Type
- journal article
- Language
- en
- Open access
- bronze
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- Çolak, G., Durnev, A., & Qian, Y. (2017). Political Uncertainty and IPO Activity: Evidence from U.S. Gubernatorial Elections. Journal of Financial and Quantitative Analysis. https://doi.org/10.1017/s0022109017000862
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