Why Wait? a Century of Life Before IPO

By Boyan Jovanovic, Peter L. Rousseau. 2001

175 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/15b12dfaeb4fc5747f8f70e362f09ff857ce722a

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In Economics and Econometrics

Citations in the corpus

Firm selection and corporate cash holdings (2020, unknown): “Lifting only restriction (1), that is, allowing for an intra-industry selection, results in R&D–intensive entrants whose evolution of characteristics in terms of size and turnover ratios are in line with the data. As predicted by the model, average cash holdings increase, but not by as much as to ma”
Toward a Quantitative General Equilibrium Asset Pricing Model with Intangible Capital (2013, methodology): “Age is expressed in years and is computed using founding dates from Ritter and Loughran (2004) and Jovanovic and Rousseau (2001). We denote the aggregate physical capital in each quantile by K and that of all firms by K.”
Has the U.S. Finance Industry Become Less Efficient? on the Theory and Measurement of Financial Intermediation (2015, unknown): “As argued by Jovanovic and Rousseau (2001), the IPO market of the 1920s was remarkably active, even compared to the one of the 1990s: IPO firms were of similar ages, and the proceeds (as share of GDP) were comparable.”
What Drove the Increase in Idiosyncratic Volatility during the Internet Boom? (2010, methodology): “However, there is a significant and steady decline in the age of the average or median firm at IPO from approximately 40 years in the early 1960s to less than 5 years by 2000, consistent with Jovanovic and Rousseau (2001). This decline is followed by an increase to 12 years by 2006.”
Knowledge Spillovers and Inequality (2002, methodology): “It includes blueprints, client lists, patent costs and copyrights, goodwill, trademarks and tradenames, 7The age sample was analyzed by Jovanovic and Rousseau (2001b) who provide a full description of it. but excludes software.”
Business Creation and the Stock Market (2004, unknown): “Jovanovic and Rousseau (2001) document the shortening in the average time to the IPO and show that this phenomenon is typical of technological revolutions led by new ﬁrms.”
Why Do Firms Use Private Equity to Opt Out of Public Markets (2010, methodology): “To do so, we include all IPOs from SDC, Jay Ritter's Website, and the Jovanovic and Rousseau (2001) data, excluding those in the broader going private sample.”
Creative industries, new business formation, and regional economic growth (2009, background): “It is defined as5: (3) )( 1 1995 ∑ − = + + =Δ t i ii tt t destm destmtrademarks A second measure, Sh_trademarkst-1, is the one-period lagged number of trademarks and registered designs &models in the respective province relative to 1,000 employees: (4) 1000_ 1 11 1 xemployees destmtrademarksSh t tt”
The Dynamics of Cash (2010, methodology): “If the date is not available from either of these sources, we use the first date the firm was listed on CRSP, checking this with the Jovanovic and Rousseau (2001) data for the pre-CRSP period.”
Creative destruction and firm-specific performance heterogeneity (2007, background): “That is, a new GPT, as explained in Jovanovic and Rousseau (2005), creates potentially value-increasing innovation and asset recombination opportunities.”