The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
The Going‐Public Decision and the Development of Financial Markets
Abstract
This paper explores the linkages between stock price efficiency, the choice between private and public financing, and the development of capital markets in emerging economies. Generally, the advantage of public financing is high if costly information is diverse and cheap to acquire, and if investors receive valuable information without cost. The value of public firms generally depends on public market size, which implies that there can be a positive externality associated with going public, so that an inferior equilibrium can exist where too few firms go public. The model is consistent with empirical observations on financial market development.
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Citations
Cites
Financial intermediation and delegated monitoring
Diamond, D. W. (1984) · The Review of Economic Studies · doi:10.2307/2297430 · Cited by 8,476
On the impossibility of informationally efficient markets
Stiglitz, J. E., & Grossman, S. J. (1980) · Columbia University · doi:10.7916/d8765r99 · Cited by 3,645
Market Liquidity and Performance Monitoring
Holmström, B., & Tirole, J. (1993) · Journal of Political Economy · doi:10.1086/261893 · Cited by 1,719
International Portfolio Flows and Security Markets
Stulz, R. M. (1999) · doi:10.2139/ssrn.155188 · Cited by 276
Cited by
Financial accounting information, organizational complexity and corporate governance systems
Bushman, R., Chen, Q., Engel, E., & Smith, A. (2004) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2003.09.005 · Cited by 1,059
A Theory of the Going-Public Decision
Chemmanur, T. J., & Fulghieri, P. (1999) · Review of Financial Studies · doi:10.1093/rfs/12.2.249 · Cited by 668
A Review of IPO Activity, Pricing and Allocations
Ritter, J. R., & Welch, I. (2002) · SSRN Electronic Journal · doi:10.2139/ssrn.296393 · Cited by 466
Diversity of Opinion and Financing of New Technologies
Allen, F., & Gale, D. (1999) · Journal of Financial Intermediation · doi:10.1006/jfin.1999.0261 · Cited by 425
PÁSTOR, Ľ., & VERONESI, P. (2005) · The Journal of Finance · doi:10.1111/j.1540-6261.2005.00778.x · Cited by 420
Metadata
- Authors
- Subrahmanyam, A., & Titman, S.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 1999-06
- Volume
- 54
- Issue
- 3
- Pages
- 1045-1082
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2118286204
- Cited by
- 841
- References
- 4
- FWCI
- 107.03
- Type
- journal article
- Language
- en
- Open access
- closed
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- Subrahmanyam, A., & Titman, S. (1999). The Going‐Public Decision and the Development of Financial Markets. The Journal of Finance. https://doi.org/10.1111/0022-1082.00136
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
