haku: @journal_id 550 / yhteensä: 339
viite: 1 / 339
« edellinen | seuraava »
| Tekijä: | Carpentier, C. Suret, J-M. |
| Otsikko: | The survival and success of Canadian penny stock IPOs |
| Lehti: | Small business economics
2011 : JAN, VOL. 36:1, p. 101-121 |
| Asiasana: | small business success Canada securities non-profit organizations growth initial public offerings |
| Kieli: | eng |
| Tiivistelmä: | We investigate the survival and success of a hefty sample of Canadian penny stock initial public offerings (IPOs), mostly launched by small and unprofitable firms in 1986-2003. The failure rate of these IPOs is lower than of the larger IPOs in the US, likely resulting from lax delisting rules and the market's capacity of refinancing non-profitable firms. The survival of new issuers is significantly connected with their characteristics at the IPO and the level of met initial listing requirement. The involvement of reputable intermediaries in the IPO process mitigates this impact. Success, measured by the graduation to a senior exchange, is not related to the financial conditions at the IPO. Overall, it seems that Canada has developed a particular strategy to finance the growth of small firms even if the firms listed at a pre-revenue stage have a high propensity to fail. |
« edellinen | seuraava »
SCIMA