Money & Business
Why are public companies vanishing in America?
...managers better than public firms. His prediction initially appeared invalid. As shown in Figure 1, the number of public firms increased sharply in the first half of the 1990s. However, the number of listed firms peaked in 1997 and has since fallen by half, such that there are fewer public corporations today than 40 years ago (Doidge, Karolyi, and Stulz, 2017). Does this...