The must-read summary of Drew Field's book: "Direct Public Offerings: The New Method for Taking Your Company Public". This complete summary of the ideas from Drew Field's book "Direct Public Offerings" explains how DPOs have now become a viable way for companies to sell stock directly to the public, without the expenses required for traditional IPO processes. In his book, Drew Field shows how Direct Public Offerings deliver significant advantages and opportunities for both investors and companies. By reading the information provided by the author, you will understand what DPOs can do for you and your business, and start making them an integral part of your business plan. Added-value of this summary: • Save time • Understand key concepts • Expand your business knowledge To learn more, read "Direct Public Offerings" and find out the benefits of DPOs and why you should never run a business without them.

Instead of calling your broker, imagine buying stock after seeing shares offered in a box of macaroni, a listing on the Internet, or a tag attached to a six-pack of beer. In "Direct Public Offerings", Field, the pioneer in applying direct marketing technology to selling securities, thoroughly explains the ins and outs of the hottest new method for corporate financial growth.

One of the most powerful mechanisms by which governments and corporations can raise capital is by offering securities to the public without an underwriter through a direct public offering (DPO). Although governments at all levels have conducted DPOs, corporations generally have not adopted the DPO as a means of financing the corporation. This paper contends that DPOs can be a more efficient means of raising capital than conventional offerings. In particular, aggregate transaction costs in aDPO are likely to be lower in certain circumstances such as when: an offering is conducted over the Internet; the issuer is seasoned; investors are sophisticated; and, the offering is debt rather than equity securities. The presence of each of these factors can result in lower information costs and thereby increase the potential for an efficient DPO.

The purpose of this monograph is to provide an overview of the IPO literature since 2000. The fewer numbers of companies going public in recent years has raised many questions regarding the IPO process, in both academic and regulatory circles. As we all strive to understand these changes in the market, it is especially important to understand the dynamics underlying the IPO process. If the process of going public is too costly or the IPO mechanism is plagued by too many conflicts of interest among the various intermediaries, then private companies may rationally choose other methods of raising capital. In a related vein, it is imperative that new regulations not be based on research focusing solely on large, more mature firms. Newly public firms have unique characteristics, and an increased understanding of such issues will contribute positively to well-functioning public markets and further growth of the entrepreneurial sector. We also provide a detailed guide to researchers on how to obtain a research-quality sample of IPOs, from standard data sources. Related to this, we tabulate important corrections to these standard data sources.