Authors: Bryce Tingle, N. Murray Edwards Chair in Business Law, University of Calgary and J. Ari Pandes, Associate Professor of Finance, University of Calgary
Stock markets in Canada and the United States are booming right now. So why do so few companies want to join them?
With the exception of a couple of bad years, the last two decades have been a great time to be a public company. Valuations are at record highs and executive compensation has more than doubled as a percentage of corporate profits. Nevertheless, fewer and fewer companies and their managers want to take advantage of these opportunities.