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The Determinants of Successful Micro‐IPOs: An Analysis of Issues Made under the Small Corporate Offering Registration (SCOR) Procedure

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  • James C. Brau
  • Jerome S. Osteryoung

Abstract

In this article we extend the existing IPO literature to the case of micro‐IPOs by analyzing a sample of Small Corporate Offering Registration (SCOR) documents from the U.S. state of Washington. Through theory, we identified variables that should impact the probability of success or failure in a SCOR offering and then empirically tested them. Empirical support was found for the relevance of (1) marketing mechanisms and expenses; (2) ownership and governance factors; (3) business life cycle stages; and (4) signaling factors consistent with our theoretical predictions.

Suggested Citation

  • James C. Brau & Jerome S. Osteryoung, 2001. "The Determinants of Successful Micro‐IPOs: An Analysis of Issues Made under the Small Corporate Offering Registration (SCOR) Procedure," Journal of Small Business Management, Taylor & Francis Journals, vol. 39(3), pages 209-227, July.
    • Handle: RePEc:taf:ujbmxx:v:39:y:2001:i:3:p:209-227
    DOI: 10.1111/0447-2778.00020
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