Going Public

Drawing upon international evidence from private sector companies and privatizations, this book investigates the anomalies that occur when companies decide to list themselves on the stock exchange.

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A critical decision in the life of a company is if, and when, to "go public" by listing themselves on the stock exchange. Two anomalies are apparent: that companies taking this route systematically initially underprice their shares and that over the longer term they under-perform other companies. This book investigates these issues in a non-technical manner, drawing upon international evidence from private sector companies and privatizations.