FYI: ■The number of publicly listed U.S. companies has fallen by about 50 percent in the last 20 years. But focusing solely on this decreasing number masks some important trends.
■A closer look at these market and regulatory trends reveals that microcap companies account for most of the decline.
■We find that the shrinking number of public companies has not materially changed the concentration and diversification of the investable U.S. market.
Regards,
Ted
https://personal.vanguard.com/pdf/ISGPCA.pdf
