Financial regulation and IPOs: Evidence from the history of the Italian stock market

Mattia Cattaneo, Michele Meoli and Silvio Vismara

Journal of Corporate Finance, 2015, vol. 31, issue C, 116-131

Abstract: This paper studies the impact of regulation on IPO markets using historical data. Regulatory interventions have different effects on the development of public equity markets under different conditions. Studying the whole population of 879 Italian IPOs from the unification of Italy (1861) through the present, we find that tightening regulatory changes improve IPO survival rates. In contrast, easing of regulations tends to harm IPO survival rates, without increasing the number of IPOs.

Keywords: IPO; Regulation; Survival; Investor protection; Italy (search for similar items in EconPapers)
JEL-codes: G18 G30 G38 K22 N23 N24 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (33)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0929119915000176
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:corfin:v:31:y:2015:i:c:p:116-131

DOI: 10.1016/j.jcorpfin.2015.02.001

Access Statistics for this article

Journal of Corporate Finance is currently edited by A. Poulsen and J. Netter

More articles in Journal of Corporate Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().