Initial Public Offerings: Status, Flaws and Dysfunctions

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April 2003

Research Paper prepared for the Small Business Branch of Industry Canada by Cécile Carpentier, Maher Kooli and Jean-Marc Suret
CIRANO and Université Laval

This study offers a complete picture of primary issues in Canada by operating companies and CPCs from 1991 to 2000, based on the identification and analysis of 1,891 share issues. This work is consistent with the priorities of the federal government which feels it should have more and better statistics on and analysis of small and medium-sized business financing to provide a better understanding of their needs.