Jonathan Cohn
Institution
University of Texas at Austin
PhD Year
2008
jonathan.cohn@mccombs.utexas.edu
FTG Membership
Member
Website
https://jonathan-cohn.notion.site/
Featured Work
Nov 1, 2022
A Model of Informed Intermediation in the Market for Going Public
We present a model in which informed experts intermediate in the market for going public by acquiring private firms and reselling their shares to public investors. Because information incorporated by the public market generates resale pricing risk for experts, the acquisition prices they pay act as credible signals of firm value. Accordingly, intermediated sales provide a superior alternative for firms that expect to be undervalued...
