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Underpricing and Entrepreneurial Wealth Losses in IPOs: Theory and Evidence
16 references·16 citing·31 second hopsampled
Underpricing and Entrepreneurial Wealth Losses in IPOs: Theory and Evidence (2001)Underpricing and Entrepreneurial Wealth L…Why Don’t Issuers Get Upset About Leaving Money on the Table in IPOs? (2002)Why Don’t Issuers Get Upset A…Underwriter Reputation, Initial Returns, and the Long‐Run Performance of IPO Stocks (1998)Underwriter Reputation, Initi…The underpricing of initial public offerings and the partial adjustment phenomenon (1993)The underpricing of initial p…Venture Capitalist Certification in Initial Public Offerings (1991)Venture Capitalist Certificat…The Long‐Run Performance of initial Public Offerings (1991)The Long‐Run Performance of i…Initial Public Offerings and Underwriter Reputation (1990)Initial Public Offerings and …Signalling by underpricing in the IPO market (1989)Signalling by underpricing in…Signalling and the Pricing of New Issues (1989)Signalling and the Pricing of…Seasoned Offerings, Imitation Costs, and the Underpricing of Initial Public Offerings (1989)Seasoned Offerings, Imitation…How investment bankers determine the offer price and allocation of new issues (1989)How investment bankers determ…Why new issues are underpriced (1986)Why new issues are underpricedInvestment banking, reputation, and the underpricing of initial public offerings (1986)Investment banking, reputatio…Information quality and the valuation of new issues (1986)Information quality and the v…Capital raising, underwriting and the certification hypothesis (1986)Capital raising, underwriting…The "Hot Issue" Market of 1980 (1984)The "Hot Issue" Market of 1980Specification Tests in Econometrics (1978)Specification Tests in Econom…The role of underwriter peer networks in IPOs (2014)The role of underwriter peer …The underpricing of IPOs on the Stock Exchange of Mauritius (2012)The underpricing of IPOs on t…Associations Between Management Forecast Accuracy and Pricing of IPOs in Athens Stock Exchange (2011)Associations Between Manageme…Share issuing privatizations in China: Sequencing and its effects on public share allocation and underpricing (2008)Share issuing privatizations …The Effects of Owners' Participation and Lockup on IPO Underpricing in Malaysia (2007)The Effects of Owners' Partic…Liquidity and Initial Public Offering Underpricing (2006)Liquidity and Initial Public …IPO Pricing with Bookbuilding and a When-Issued Market (2006)IPO Pricing with Bookbuilding…Underpricing, share retention, and the IPO aftermarket liquidity (2005)Underpricing, share retention…Quid Pro Quo in Ipos: Why Book-Building is Dominating Auctions (2005)Quid Pro Quo in Ipos: Why Boo…Pursuing Value Through Liquidity in IPOs: Underpricing, Share Retention, Lockup, and Trading Volume Relationships (2005)Pursuing Value Through Liquid…Initial Public Offerings and Venture Capital in Germany (2004)Initial Public Offerings and …Venture Capitalist Participation and the Performance of IPO Firms: Empirical Evidence from France, Germany, and the UK (2003)Venture Capitalist Participat…Taking Stock in Stock Markets: The Changing Governance of Exchanges (2003)Taking Stock in Stock Markets…Sous-évaluation à l'introduction et cessions d'actions par les actionnaires d'origine : le cas français (2003)Sous-évaluation à l'introduct…Negotiation and the IPO Offer Price: A Comparison of Integer Versus Non-Integer Ipos (2002)Negotiation and the IPO Offer…The Market Performance of Italian Ipos in the Long-Run (2001)The Market Performance of Ita…The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)The Role of Market Forces in Assuring Contractual Performance (1981)A Model of the Demand for Investment Banking Advising and Distribution Services for New Issues (1982)Information and the Cost of Capital (2004)Theory of Rational Option Pricing (1973)INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION (1977)MEDIA LEGITIMATION EFFECTS IN THE MARKET FOR INITIAL PUBLIC OFFERINGS. (2003)Theory of rational option pricing (2005)The New Issues Puzzle (1995)Myth or Reality? The Long-Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital-Backed Companies (1997)Herd Behaviour and Cascading in Capital Markets: a Review and Synthesis (2003)On the Pooling of Time Series and Cross Section Data (1978)Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Econometric Analysis of Cross Section and Panel Data (2001)Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)Auditor independence, ‘low balling’, and disclosure regulation (1981)Financial Intermediation, Loanable Funds, and The Real Sector (1997)Interorganizational Endorsements and the Performance of Entrepreneurial Ventures (1999)RISK, UNCERTAINTY, AND DIVERGENCE OF OPINION (1977)Does the Stock Market Overreact? (1985)INITIAL PUBLIC OFFERINGS (1988)Event Studies in Economics and Finance (1997)Investor Psychology and Security Market Under‐ and Overreactions (1998)Investor Sentiment and the Cross‐Section of Stock Returns (2006)Why Has IPO Underpricing Changed Over Time? (2002)Why Has IPO Underpricing Changed Over Time (2004)Grandstanding in the venture capital industry (1996)Conflict of Interest and the Credibility of Underwriter Analyst Recommendations (1999)The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle (1998)A Review of IPO Activity, Pricing, and Allocations (2002)Whom You Know Matters: Venture Capital Networks and Investment Performance (2007)
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References

  • 1978Specification Tests in Econometrics18,788 cited
  • 1991The Long‐Run Performance of initial Public Offerings3,500 cited
  • 1986Why new issues are underpriced2,788 cited
  • 1986Investment banking, reputation, and the underpricing of initial public offerings2,581 cited
  • 1990Initial Public Offerings and Underwriter Reputation2,442 cited
  • 1991Venture Capitalist Certification in Initial Public Offerings2,322 cited
  • 1989How investment bankers determine the offer price and allocation of new issues1,815 cited
  • 1984The "Hot Issue" Market of 19801,586 cited
  • 1998Underwriter Reputation, Initial Returns, and the Long‐Run Performance of IPO Stocks1,510 cited
  • 1989Signalling by underpricing in the IPO market1,454 cited
  • 1989Seasoned Offerings, Imitation Costs, and the Underpricing of Initial Public Offerings1,393 cited
  • 2002Why Don’t Issuers Get Upset About Leaving Money on the Table in IPOs?1,384 cited
  • 1986Information quality and the valuation of new issues1,180 cited
  • 1989Signalling and the Pricing of New Issues1,049 cited
  • 1993The underpricing of initial public offerings and the partial adjustment phenomenon988 cited

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  • 1986Capital raising, underwriting and the certification hypothesis952 cited
  • Cited by

    • 2006IPO Pricing with Bookbuilding and a When-Issued Market79 cited
    • 2003Taking Stock in Stock Markets: The Changing Governance of Exchanges64 cited
    • 2005Pursuing Value Through Liquidity in IPOs: Underpricing, Share Retention, Lockup, and Trading Volume Relationships49 cited
    • 2012The underpricing of IPOs on the Stock Exchange of Mauritius39 cited
    • 2014The role of underwriter peer networks in IPOs37 cited
    • 2003Venture Capitalist Participation and the Performance of IPO Firms: Empirical Evidence from France, Germany, and the UK34 cited
    • 2005Underpricing, share retention, and the IPO aftermarket liquidity34 cited
    • 2006Liquidity and Initial Public Offering Underpricing30 cited
    • 2002Negotiation and the IPO Offer Price: A Comparison of Integer Versus Non-Integer Ipos27 cited
    • 2001The Market Performance of Italian Ipos in the Long-Run26 cited
    • 2008Share issuing privatizations in China: Sequencing and its effects on public share allocation and underpricing24 cited
    • 2005Quid Pro Quo in Ipos: Why Book-Building is Dominating Auctions22 cited
    • 2007The Effects of Owners' Participation and Lockup on IPO Underpricing in Malaysia21 cited
    • 2011Associations Between Management Forecast Accuracy and Pricing of IPOs in Athens Stock Exchange21 cited
    • 2004Initial Public Offerings and Venture Capital in Germany21 cited
    • 2003Sous-évaluation à l'introduction et cessions d'actions par les actionnaires d'origine : le cas français19 cited