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Corporate Efficiency, Profitability, and Value Changes after the IPO

  • Daniel L. McConaughy

    (Rosary College)

  • Manjeet S. Dhatt

    (University of Cincinnati)

  • Yong H. Kim

    (University Cincinnati)

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    This study compares the profitability, operational efficiency, and firm value over the 1985-1990 period of 100 firms that had IPOs in 1985 compared to a matched sample of similar firms which had their IPO before 1980. We find that the 1985 IPO firms were more profitable, operationally more efficient, had more liquid assets, and had greater value over the 1985-1990 period.

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    Article provided by Pepperdine University, Graziadio School of Business and Management in its journal Journal of Small Business Finance.

    Volume (Year): 3 (1994)
    Issue (Month): 2 (Spring)
    Pages: 167-170

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    Handle: RePEc:pep:journl:v:3:y:1994:i:2:p:167-170
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    1. Muscarella, Chris J & Vetsuypens, Michael R, 1990. " Efficiency and Organizational Structure: A Study of Reverse LBOs," Journal of Finance, American Finance Association, vol. 45(5), pages 1389-1413, December.
    2. Hayne E. Leland and David H. Pyle., 1976. "Informational Asymmetries, Financial Structure, and Financial Intermediation," Research Program in Finance Working Papers 41, University of California at Berkeley.
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