The issue examined in this study and the title of this study is "Taking A Company Public." Taking a company public, or "going public" in financial jargon, "refers to a closely held company's first sale of securities to the general public in more than one state" (Taggart, Alexander, and Arnold 1991, 1). In order to go public, a company is required to file with the Securities and Exchange Commission (SEC), and to comply with federal and state security law (Peat Marwick Private Business Advisory Service 1985, 3).
The issue examined is addressed within the context of five problem areas. The problem areas addressed in this examination are (1) the purpose, functioning, and regulation of financial markets, (2) business planning, (3) the decision to go public, (4) the process of going public, (5) and procedural and legal requirements applicable to companies subsequent to going public. Each of these problem areas is addressed in a single, separate chapter, with the exception of (1) the decision to go public, and (2) the process of going public. The decision to go public is addressed within the context of two sub problems. These sub problems are (1) capital generation options to going public, and (2) the advantages and disadvantages of going public, together with the criteria for going public. Each of these sub problems is addressed in a single, separate chapter. The process of going public is also addressed within the context of two sub problems. These sub problems are (1) the alternative ways of going public, and (2) procedures required to go public. Each of these sub problems is also addressed in a single, separate chapter.
The final presentation in this study is a concluding summary. In this section, the results of the study are summarized, and the conclusion drawn relative to going public is stated.
THE PURPOSE, FUNCTIONING, AND REGULATION
The first problem area addressed is the purpose, functioning, and regulation...