Fjesme, Sturla Lyngnes; Hannah, Leslie; Moore, Lyndon (Journal article; Tidsskriftartikkel; Peer reviewed, 2023-02-02)
Thousands of prospectuses offered shares to British investors at the turn of the twentieth century. We find evidence that there were informed investors who participated in the market at this time. Firms that attracted additional investor demand were more likely to be listed on the London Stock Exchange, survive longer, and achieve better long-run equity returns. We find that the exchange screened ...