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dc.contributor.authorBouis, Romain
dc.date.accessioned2014-01-29T08:49:44Z
dc.date.available2014-01-29T08:49:44Z
dc.date.issued2009-12
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/12529
dc.language.isoenen
dc.subjectIPO timingen
dc.subjectRegistration perioden
dc.subjectReal optionen
dc.subjectHazard analysisen
dc.subject.ddc332en
dc.subject.classificationjelG14en
dc.subject.classificationjelG24en
dc.subject.classificationjelG32en
dc.titleThe short-term timing of initial public offeringsen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenThis paper examines the effect of stock market conditions on the waiting time of initial public offering (IPO) candidates, from the date firms file a registration statement with the Securities and Exchange Commission (SEC) to the effective IPO date. I find that issuers are going public faster when time-varying stock market valuations are high, and when time-varying market returns and time-varying market volatility are low. The volatility effect is not driven by regulatory delays consecutive to changes in the terms of the offers during the IPO process. Taken together, these results indicate that firms use a short-term market timing strategy when deciding the right time to go public and are consistent with a real option interpretation of IPO timing.en
dc.relation.isversionofjnlnameJournal of corporate finance
dc.relation.isversionofjnlvol15en
dc.relation.isversionofjnlissue5en
dc.relation.isversionofjnldate2009-12
dc.relation.isversionofjnlpages587-601en
dc.relation.isversionofdoihttp://dx.doi.org/10.1016/j.jcorpfin.2009.07.002en
dc.relation.isversionofjnlpublisherElsevieren
dc.subject.ddclabelEconomie financièreen
dc.relation.forthcomingnonen
dc.relation.forthcomingprintnonen


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