The location of initial public offering headquarters: An empirical examination

Michael Cichello () and Douglas Lamdin

Journal of Economics and Finance, 2016, vol. 40, issue 1, 18 pages

Abstract: We study the headquarters location of U.S. firms with an initial public offering (IPO) over the 2001–2011 period. Specifically, we examine IPO intensity, defined as IPOs in a state scaled by state population. We find that IPO intensity is positively related to various measures of education. We also find that IPO intensity is positively related to an economic climate (freedom) index, degree of urbanization, and whether a state contains a financial center. Some economists see IPOs as a driver of economic growth. Thus, our results suggest factors that government officials may consider to increase the number of IPOs headquartered in their states. Copyright Springer Science+Business Media New York 2016

Keywords: Initial public offering; Firm location; Financial center; Economic freedom index; R38; H32; G24; R58 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/s12197-014-9283-5

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