America’s public markets are perking up. Can it last?
The burden of going public will need to be lightened if a flurry of initial public offerings is to turn into a flood
FOR years, discussions of America’s public markets have usually featured a lament for their dwindling appeal. According to Jay Ritter of the University of Florida, the number of publicly listed companies peaked in 1997 at 8,491 (see chart). By 2017 it had slumped to 4,496. True, many of the companies that went public in the internet’s early days should never have done so. But the decline worries anyone who sees public markets as the best way for ordinary investors to benefit from the successes of corporate America.
This article appeared in the Finance & economics section of the print edition under the headline "Proof of life"
Finance & economics March 17th 2018
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From the March 17th 2018 edition
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