Pagano, Marco; Panetta, Fabio; Zingales, Luigi - In: Journal of Finance 53 (1998) 1, pp. 27-64
Using a large database of private firms in Italy, we analyze the determinants of initial public offerings (IPOs) by comparing the ex ante and ex post characteristics of IPOs with those of private firms. The likelihood of an IPO is increasing in the company's size and the industry's...