Abstract
Most studies of IPO activity focus on individual issuer decision (filings, issuances, withdrawals). This study provides a more complete empirical picture of the IPO market by tracking the monthly value of IPOs in registration from 1998 to 2007. The value in registration has a significantly negative effect on IPO filings and a significantly positive effect on issuances, withdrawals and filing size amendments for issuers remaining in registration. Controlling for the value of IPOs in registration, market condition variables (including market return and volatility) play less significant roles on issuance choices than found in the existing literature.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
