Be wary of buying on the sizzle: Imagery language in IPO prospectuses

Stefan Wuorinen, He Gao, Lingling Pan and Gerry McNamara

Journal of Business Venturing Insights, 2025, vol. 23, issue C

Abstract: •Entrepreneurs can use language to influence investors without commitment.•Imagery language in prospectuses increases initial public offering performance.•Imagery language negatively predicts firm long-term growth and innovation investments.•This disconnect provides benefits to new ventures at the expense of investors.•Investors must critically assess promises embedded in initial public offerings.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jobuve:v:23:y:2025:i:c:s2352673425000137

DOI: 10.1016/j.jbvi.2025.e00526

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