摘要：This work provides an analysis of factors that may influence the decision of going public. Our study examined a sample of 152 IPO French companies, between 2005-2010, including 41 companies that have made a transfer of market during the same study period. The results show that French firms that are generally younger, with relatively high borrowing costs, with reduced level of information asymmetry, with high profitability and with high levels of disclosure, are not likely to go public. Thus, the French companies that are characterized by a high MTB ratio are motivated to be admitted to listing. This ratio implies the existence of periods of heavy activity, reflecting the good timing of the IPO.
关键词：IPO timing; Financial and economic pre-IPO factors; MTB ratio; market transfer
