Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5086702 | Journal of Accounting and Economics | 2013 | 8 Pages |
Abstract
The conference paper by Gerakos, Lang and Maffett (2013) provides reliable, descriptive evidence on the post-IPO performance of firms listing on the London Stock Exchange's Alternative Investment Market (AIM). Their findings are consistent with both a failure of private sector regulation and incorrect market expectations about AIM's investor protections. In this discussion of Gerakos et al. (2013), I highlight the strengths and limitations of their conference paper, summarize how various regulatory and market factors could produce the observed systematic under-performance of AIM offerings, and outline paths for future research on the topic.
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Accounting
Authors
Joseph D. Piotroski,