This paper shows that the wave-shape parameters of lightning-induced voltages (front-time and time-to-half value) are influenced by the ground resistivity, the line length, and the distance between the flash and the line. In general, these parameters increase with the ground resistivity, the line length, and the distance from the flash. The probabilistic distribution of the waveshape parameters are presented, considering different values of line length and ground resistivity. The effect of the induced voltage waveform on the indirect lightning performance of aerial distribution lines is evaluated using the disruptive effect (DE) method as a flashover criterion. The resulting flashover rates differ significantly from those obtained when only the peak value is used as flashover criterion. The use of a correction factor to multiply the line critical flashover when using the peak value as a flashover criterion is investigated.