The Benefits of Going Public: Evidence of Increased Public Recognition

23 Pages Posted: 6 May 2020

See all articles by Hidenori Takahashi

Hidenori Takahashi

Nagoya University

Katsuhiko Okada

Kwansei Gakuin University Business School

Date Written: April 11, 2018

Abstract

We empirically examine the benefits of going public: increased public recognition. We develop a novel measure of public recognition by using page views of the company’s website that can calculate pre- and post-initial public offering (IPO) periods and capture a wider range of recognition than the existing measures. We find that 89% of firms that go public experience increased page views; the remaining 11%, however, experience decreased page views. When a firm is less known before the IPO and listed by reputable underwriters, the increased page views is larger.

Keywords: Initial public offerings (IPOs); Public recognition; Underwriter

JEL Classification: M13; G24

Suggested Citation

Takahashi, Hidenori and Okada, Katsuhiko, The Benefits of Going Public: Evidence of Increased Public Recognition (April 11, 2018). Available at SSRN: https://ssrn.com/abstract=3573324 or http://dx.doi.org/10.2139/ssrn.3573324

Hidenori Takahashi (Contact Author)

Nagoya University ( email )

Furo-cho, Chikusa-ku
Nagoya, 464-8601
Japan

Katsuhiko Okada

Kwansei Gakuin University Business School ( email )

1-1-155, Uegahara, Nishinomiya
Hyogo, 669-1337
Japan
1798546377 (Phone)

HOME PAGE: http://www.kwansei-ac.jp/iba/index.html

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