Pre-IPO financial performance and aftermarket survival
Many commentators have portrayed the tech boom of the late 1990s as an era of unprecedented deterioration in the quality of firms undertaking initial public offerings. But as far back as the early 1980s, firms seeking to go public were displaying signs of financial weakness, and the failure rate of issuers was on the rise. An analysis of the likelihood of failure among IPO firms in 1980-2000 suggests that pre-issue profitability is a good predictor of aftermarket survival.
Volume (Year): 10 (2004)
Issue (Month): Feb ()
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- Jay R. Ritter & Ivo Welch, 2002.
"A Review of IPO Activity, Pricing, and Allocations,"
Journal of Finance,
American Finance Association, vol. 57(4), pages 1795-1828, 08.
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- Jain, Bharat A & Kini, Omesh, 1994. " The Post-Issue Operating Performance of IPO Firms," Journal of Finance, American Finance Association, vol. 49(5), pages 1699-1726, December.
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