IDEAS home Printed from https://ideas.repec.org/a/spt/apfiba/v2y2012i4f2_4_14.html
   My bibliography  Save this article

Listing Standards and IPO Performance: Is More Regulation Better?

Author

Listed:
  • Igor Semenenko

Abstract

Decline in confidence in free market mechanisms in the past decade has provoked an increase in interest in regulatory issues. This paper seeks to answer one question: Are exchange listing rules an effective screening mechanism? Using a sample of IPO firms listing on major U.S. exchanges in 1984-2005, I find that (i) firms listing on different trading floors exhibit different characteristics; (ii) introduction of higher standards on one market tier does not prevent entry of low quality firms. My findings call in question the exchanges’ ability to create effective screens by changing listing rules, but speak in favour of further market segmentation.

Suggested Citation

  • Igor Semenenko, 2012. "Listing Standards and IPO Performance: Is More Regulation Better?," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 2(4), pages 1-14.
    • Handle: RePEc:spt:apfiba:v:2:y:2012:i:4:f:2_4_14
    as

    Download full text from publisher

    File URL: http://www.scienpress.com/Upload/JAFB%2fVol%202_4_14.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Acharya, Viral & Xu, Zhaoxia, 2017. "Financial dependence and innovation: The case of public versus private firms," Journal of Financial Economics, Elsevier, vol. 124(2), pages 223-243.
    2. Takahashi, Hidenori & Yamada, Kazuo, 2015. "IPOs, growth, and the impact of relaxing listing requirements," Journal of Banking & Finance, Elsevier, vol. 59(C), pages 505-519.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spt:apfiba:v:2:y:2012:i:4:f:2_4_14. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Eleftherios Spyromitros-Xioufis (email available below). General contact details of provider: http://www.scienpress.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.