The DOI matches its Crossref record; 79 of the 79 references it cites were found in a registry or an index.
Initial Public Offerings: An Analysis of Theory and Practice
Open accessAbstract
We survey 336 chief financial officers (CFOs) to compare practice to theory in the areas of initial public offering (IPO) motivation, timing, underwriter selection, underpricing, signaling, and the decision to remain private. We find the primary motivation for going public is to facilitate acquisitions. CFOs base IPO timing on overall market conditions, are well informed regarding expected underpricing, and feel underpricing compensates investors for taking risk. The most important positive signal is past historical earnings, followed by underwriter certification. CFOs have divergent opinions about the IPO process depending on firm‐specific characteristics. Finally, we find the main reason for remaining private is to preserve decision‐making control and ownership.
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Cites
Corporate financing and investment decisions when firms have information that investors do not have
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CORPORATE INCOME TAXES AND THE COST OF CAPITAL: A CORRECTION
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INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION
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Informational Asymmetries, Financial Structure, and Financial Intermediation
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Why Do Firms Use Private Equity to Opt Out of Public Markets?
Bharath, S. T., & Dittmar, A. K. (2010) · Review of Financial Studies · doi:10.1093/rfs/hhq016 · Cited by 247
Ill Communication: Technology, distraction & student performance
Beland, L.-P., & Murphy, R. (2016) · Labour Economics · doi:10.1016/j.labeco.2016.04.004 · Cited by 236
SOX after Ten Years: A Multidisciplinary Review
Coates, J. C., & Srinivasan, S. (2014) · Accounting Horizons · doi:10.2308/acch-50759 · Cited by 228
Why do companies delist voluntarily from the stock market?
Kashefi Pour, E., & Lasfer, M. (2013) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2013.08.022 · Cited by 109
Intrisano, C., Micheli, A. P., & Calce, A. M. (2020) · International Journal of Economics and Finance · doi:10.5539/ijef.v12n11p130 · Cited by 4
Metadata
- Authors
- BRAU, J. C., & FAWCETT, S. E.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2006-01-20
- Volume
- 61
- Issue
- 1
- Pages
- 399-436
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3125531661
- Cited by
- 837
- References
- 79
- FWCI
- 144.04
- Type
- journal article
- Language
- en
- Open access
- green
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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.
