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Behavioral Finance Grexit & Public Companies Feb 5, 2015 Behavioral Finance Economics 437
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Behavioral Finance Grexit & Public Companies Feb 5, 2015 Greece 11.1 Million population Per capita income about $ 35 K Total Current Sovereign Debt = almost $ 350 Billion Went broke in 2010 Bailed out Memorandum of Understanding in 2012 250 Billion in debt forgiven in 2012 Troika put in charge of further payments
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Behavioral Finance Grexit & Public Companies Feb 5, 2015 Now $ 4 Billion needed in two weeks ECB refused yesterday to continue to accept Greek sovereign as loan collateral Greek stocks dropped nine percent Yields on three year paper near 20 percent
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Behavioral Finance Grexit & Public Companies Feb 5, 2015 Public versus Private Most companies are private; relatively few are public Vast majority of assets are in public companies Companies begin as private Then “go public” Sometimes go the other way (private equity firm buyouts, for example)
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Behavioral Finance Grexit & Public Companies Feb 5, 2015 How do you go public Hire an investment bank File an S-1 Do a roadshow Sell small fraction of company to public shareholders Rules governed by 1933 and 1934 Security Acts Main rule = disclose, disclose, disclose 10K, 10Q filings
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Behavioral Finance Grexit & Public Companies Feb 5, 2015 The End
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