Bibliometric analysis of IPO literature to identify core and emerging knowledge

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Abstract

This study aims to identify conceptual links, trends, and emerging insights into Initial Public Offering (IPO) literature that will be relevant for scholars to further research on IPOs and their implications on firms’ sustainability. We identified 579 relevant articles on IPO research by collecting data from Scopus and applying predefined criteria (IPO topics). These articles cover the period from 1986 to 2024. Citation and co-citation analysis revealed three clusters with key themes, including research on underpricing and long-term corporate value. Additionally, through theme analysis, we found that commerce and long-term sustainability of firm value are emerging research areas in the IPO literature. Using factor analysis, we identify the key conceptual framework underlying IPO research that will guide future research.

Keywords: Bibliometric Analysis, Co-Citation Analysis, Factor Analysis, Initial Public Offering

Authors’ individual contribution: The Author is responsible for all the contributions to the paper according to CRediT (Contributor Roles Taxonomy) standards.

Declaration of conflicting interests: The Author declares that there is no conflict of interest.

JEL Classification: G11, G12, G14, G15

Received: 28.07.2025
Revised: 07.10.2025; 03.11.2025
Accepted: 19.11.2025
Published online: 21.11.2025

How to cite this paper: Karnatak, U. (2025). Bibliometric analysis of IPO literature to identify core and emerging knowledge. Corporate Ownership & Control, 22(4), 8–20. https://doi.org/10.22495/cocv22i4art1