Craig Doidge, George Karolyi, René Stulz, 03 August 2011

Over the past two decades, there has been a dramatic change in initial public offering (IPO) activity around the world. The importance of IPOs in the US relative to the world has not kept up with the economic importance of the US. This column analyses nearly 30,000 IPOs from almost 90 countries between 1990 and 2007 to examine why this might be.

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