So from your own post...
There is no research on the ASX...
So why do you expect anyone to give a FF about US markets?
Should we care about Chinese RT's then?
" Most of this literature casts RMs in a dim light, as RM firms in developed market are generally smaller, younger, and riskier. For example, when compared to IPO firms, U.S. RMs have worse operating performance ex ante, as well as higher delisting probability ex post (e.g., Gleason et al., 2005;Adjei et al., 2008;Floros and Sapp, 2011). 3 Unlike these studies, our results show that in China, firms going public through RMs tend to be robust business entities that exhibit equal or even superior long-term performance relative to IPO firms. ...
... Note also that none of the RM firms in our sample delisted after going public. This stands in sharp contrast to the evidence from the U.S., where Gleason et al. (2005) find that more than 50% the RM firms do not survive their first two years. ...
... Over the first three years, RMs report robust growth in sales and earnings that exceed those reported by matched IPO firms. This superior post-listing operating performance is in sharp contrast to evidence from other countries, where RM firms tend to struggle after listing and, in many cases, disappear altogether (Gleason et al., 2005). We also find weak evidence of a political connectedness effect among IPO firms. ...
Going Public in China: Reverse Mergers Versus IPOs
Article
Again not a scintilla of proof to any of your nonsense.
THIS IS AUSTRALIA!
NOT US!
NOT CHINA!
AUSTRALIA...Plain enough for ya'? You pixel thief you.
(20min delay)