Cornaggia, Jess
[VerfasserIn]
;
Gustafson, Matthew
[Sonstige Person, Familie und Körperschaft];
Kotter, Jason D.
[Sonstige Person, Familie und Körperschaft];
Pisciotta, Kevin
[Sonstige Person, Familie und Körperschaft]
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 11, 2020 erstellt
Beschreibung:
After accounting for endogeneity in the IPO decision, areas hosting large companies that go public experience muted growth in employment, establishments, and population, relative to areas where firms remain private. These effects are most pronounced in low income areas. Establishment-level analyses and tests of IPO-filer acquisition activity reveal that transitioning to public ownership causes firms to geographically diversify their establishments and employee base. These findings are consistent with public ownership reducing a firm's reliance on local agglomeration economies, to the detriment of the local community