英语翻译Whilefewnonfinancialfirmsareacquiredpost-IPO(Fama&French,2004),ultimateacquisitionmaybeamoresalientmotivationforbanks.Rosen,Smart,andZutter(2005)showthatbanksthatgopublicaresignificantlymorelikelytobecomet

Question

英语翻译
While few nonfinancial firms are acquired post-IPO (Fama & French,2004),ultimate acquisition may be a more salient motivation for banks.Rosen,Smart,and Zutter (2005) show that banks that go public are significantly more likely to become takeover targets than are privately-held control banks.Similarly,we find that more than half of the banks that undertake an IPO are acquired,with an average time to acquisition of 6.8 years.Thus,whatever the motive for going public,banks' post-IPO experience is typically quite different than that of nonfinancial firms.

Answer 1

然而很少有非金融公司被收购上市(法玛&法国,2004),最终收购银行可能是一个更为突出的动机.罗森、智能和Zutter(2005)表明,上市银行明显比私人控股的银行更有可能成为被收购的目标.同样地,我们发现超过一半的上市银行被收购了,平均的收购时间为6.8年.因此,无论上市的动机是什么,上市之后银行的经验通常与非金融公司是截然不同的.