FINANCING GROWTH AFTER THE IPO

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    The analysis and conclusions of this paper are those of the authors and do Smith, and R. Watts, “The Determinants of Corporate Leverage and Payout Policies, not indicate concurrence by other members of the research staff, by the Board of Governors, the Federal Reserve Bank of New York, or by the Federal Reserve System. We are grateful for the excellent research assistance of Kyle Nagel.

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