Choice between backdoor listing and regular initial public offering in China
The essay examines the factors that affect the private firms’ choice to go public by backdoor listing (BDL) or regular initial public offering (IPO) in China. The relevant ex-ante factors are tested by 104 BDL firms and 449 IPO firms. The results indicate significant regulation impact to the firm’s decision. In the meantime, it is unclear that the review standard of firm’s profit affects the firm’
