The determinants and survival of reverse mergers vs IPOs

被引：12

作者：

Adjei F. ^{[1
]}

Cyree K.B. ^{[1
]}

Walker M.M. ^{[1
]}

机构：

[1] School of Business, University of Mississippi, MS 38677

来源：

Journal of Economics and Finance | 2008年 / 32卷 / 2期

基金：

美国国家卫生研究院;

关键词：

Reverse mergers; Takeovers;

D O I：

10.1007/s12197-007-9012-4

中图分类号：

学科分类号：

摘要：

This study examines the motivation for using a reverse merger (RM) rather than an IPO to take a private firm public and analyzes the survival of RMs and IPOs in the aftermarket. Private firms using the RM technique are smaller, younger, and have poorer ex ante performance on average than those using IPOs. For private firms using RMs, 1.4% do not meet any listing requirements while all IPOs meet at least one requirement of the listing exchange. Forty-two percent of RMs are delisted compared with 27% of matched IPOs within 3 years of listing on an exchange. © Springer Science + Business Media, LLC 2007.

引用

页码：176 / 194

页数：18

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