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Cited by 420

The DOI matches its Crossref record; 55 of the 55 references it cites were found in a registry or an index.

Rational IPO Waves

PÁSTOR, ĽUBOŠ, VERONESI, PIETRO·2005·The Journal of Finance
DOI 10.1111/j.1540-6261.2005.00778.x
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Abstract

We argue that the number of firms going public changes over time in response to time variation in market conditions. We develop a model of optimal initial public offering (IPO) timing in which IPO waves are caused by declines in expected market return, increases in expected aggregate profitability, or increases in prior uncertainty about the average future profitability of IPOs. We test and find support for the model's empirical predictions. For example, we find that IPO waves tend to be preceded by high market returns and followed by low market returns.

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Crossref · 10.1111/j.1540-6261.2005.00778.x

Cites

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Metadata

Authors
PÁSTOR, Ľ., & VERONESI, P.
Venue
The Journal of Finance
Publisher
Wiley
Published
2005-08
Volume
60
Issue
4
Pages
1713-1757
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.2005.00778.x
OpenAlex
W2136491889
Cited by
420
References
55
FWCI
123.70
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Rational IPO Waves. https://app.cochat.ai/papers/10.1111/j.1540-6261.2005.00778.x
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PÁSTOR, Ľ., & VERONESI, P. (2005). Rational IPO Waves. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2005.00778.x

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.