Financial centre bias in primary equity markets.
This paper shows that firms from financial centres are more likely to go public than their provincial counterparts. The financial centre bias is analysed for 32 countries, including the European Union, the USA and Japan. It is particularly strong in countries with underdeveloped stock markets and cl...
| Main Author: | |
|---|---|
| Format: | Journal article |
| Language: | English |
| Published: |
OUP
2009
|
| _version_ | 1797090890420846592 |
|---|---|
| author | Wójcik, D |
| author_facet | Wójcik, D |
| author_sort | Wójcik, D |
| collection | OXFORD |
| description | This paper shows that firms from financial centres are more likely to go public than their provincial counterparts. The financial centre bias is analysed for 32 countries, including the European Union, the USA and Japan. It is particularly strong in countries with underdeveloped stock markets and closed corporate governance regimes, but it is still present in countries with the most developed stock markets and most open corporate governance, such as the UK and the USA. Potential reasons for the bias include the benefits of issuers’ proximity to Initial Public Offerings intermediaries and specialised labour markets, corporate governance incentives and institutional factors. |
| first_indexed | 2024-03-07T03:25:09Z |
| format | Journal article |
| id | oxford-uuid:b8ca534f-1547-4d47-88d3-bdde52cbce2e |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-07T03:25:09Z |
| publishDate | 2009 |
| publisher | OUP |
| record_format | dspace |
| spelling | oxford-uuid:b8ca534f-1547-4d47-88d3-bdde52cbce2e2022-03-27T04:58:19ZFinancial centre bias in primary equity markets.Journal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:b8ca534f-1547-4d47-88d3-bdde52cbce2eEnglishDepartment of Economics - ePrintsOUP2009Wójcik, DThis paper shows that firms from financial centres are more likely to go public than their provincial counterparts. The financial centre bias is analysed for 32 countries, including the European Union, the USA and Japan. It is particularly strong in countries with underdeveloped stock markets and closed corporate governance regimes, but it is still present in countries with the most developed stock markets and most open corporate governance, such as the UK and the USA. Potential reasons for the bias include the benefits of issuers’ proximity to Initial Public Offerings intermediaries and specialised labour markets, corporate governance incentives and institutional factors. |
| spellingShingle | Wójcik, D Financial centre bias in primary equity markets. |
| title | Financial centre bias in primary equity markets. |
| title_full | Financial centre bias in primary equity markets. |
| title_fullStr | Financial centre bias in primary equity markets. |
| title_full_unstemmed | Financial centre bias in primary equity markets. |
| title_short | Financial centre bias in primary equity markets. |
| title_sort | financial centre bias in primary equity markets |
| work_keys_str_mv | AT wojcikd financialcentrebiasinprimaryequitymarkets |