To wait or not to wait: When do announced Initial Public Offerings are completed?

@inproceedings{Beaulieu2008ToWO,
  title={To wait or not to wait: When do announced Initial Public Offerings are completed?},
  author={Marie-Claude Beaulieu and William Rolland Sodjahin},
  year={2008}
}
This paper proposes a model that formalizes the optimal external timing for an initial public offering using real options concept and also presents empirical analysis. It is the first study to investigate the factors influencing the IPO waiting period. We find strong evidence of information production by waiting period. In line with the predictions of our model, the waiting period is more likely to be longer the larger syndicate size. We argue that the high competition risk among syndicate… CONTINUE READING