!!!Optimal IPO Timing(经济环境决定IPO时机).pdfVIP

Optimal IPO Timing∗ Brian E. Young September 17, 2007 Abstract IPO volume varies monthly and often in waves of high or low volume. Many published papers attribute the waves to private firms capitalizing on mispricing by the market. This paper demonstrates the feasibility that market valuations of a given firm can rationally change over time due to changes in econo