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The Long-Run Return to Investors in Share Issue Privatization
11 references·16 citing·42 second hop
The Long-Run Return to Investors in Share Issue Privatization (2000)The Long-Run Return to Investors in Share…The aftermarket performance of initial public offerings in Canada (2003)The aftermarket performance o…State-Owned and Privately Owned Firms: An Empirical Analysis of Profitability, Leverage, and Labor Intensity (2001)State-Owned and Privately Own…Improved Methods for Tests of Long‐Run Abnormal Stock Returns (1999)Improved Methods for Tests of…Public Offerings of State-Owned and Privately-Owned Enterprises: An International Comparison (1997)Public Offerings of State-Own…Measuring long-horizon security price performance (1997)Measuring long-horizon securi…Firm Size, Book-to-Market Ratio, and Security Returns: A Holdout Sample of Financial Firms (1997)Firm Size, Book-to-Market Rat…Detecting long-run abnormal stock returns: The empirical power and specification of test statistics (1997)Detecting long-run abnormal s…The New Issues Puzzle (1995)The New Issues PuzzleThe Financial and Operating Performance of Newly Privatized Firms: An International Empirical Analysis (1994)The Financial and Operating P…The Long-Run Performance of Initial Public Offerings: The UK Experience 1980-1988 (1993)The Long-Run Performance of I…The Long‐Run Performance of initial Public Offerings (1991)The Long‐Run Performance of i…Privatization and Finance (2010)Privatization and FinanceLong‐term Performance of Greek IPOs (2010)Long‐term Performance of Gree…Group affiliation and the performance of IPOs in the Indian stock market (2009)Group affiliation and the per…UNDERPRICING AND LONG‐RUN PERFORMANCE OF SHARE ISSUE PRIVATIZATIONS IN THE EGYPTIAN STOCK MARKET (2005)UNDERPRICING AND LONG‐RUN PER…THE PERFORMANCE AND LONG-RUN CHARACTERISTICS OF THE CHINESE IPO MARKET (2005)THE PERFORMANCE AND LONG-RUN …Privatization Through an Overseas Listing: Evidence from China's H-Share Firms (2005)Privatization Through an Over…Do privatized banks in middle- and low-income countries perform better than rival banks? An intra-industry analysis of bank privatization (2005)Do privatized banks in middle…Do government-linked companies underperform? (2004)Do government-linked companie…Privatisation Initial Public Offerings: the Polish Experience (2003)Privatisation Initial Public …The performance of privatized firms in the Czech Republic (2002)The performance of privatized…Privatization in Canada: Operating and Stock Price Performance with International Comparisons (2002)Privatization in Canada: Oper…Malaysia Privatization: A Comprehensive Study (2002)Malaysia Privatization: A Com…Confidence Building in Emerging Stock Markets (2001)Confidence Building in Emergi…Privatization versus Private Sector Initial Public Offerings in Poland (2000)Privatization versus Private …International cross-listing and stock market development in emerging economies (2000)International cross-listing a…Factors affecting the stock price performance of share issued privatizations (2000)Factors affecting the stock p…On the Existence of an Optimal Capital Structure: Theory and Evidence (1984)Politicians and Firms (1994)Political Connections and Corporate Bailouts (2006)Politically connected CEOs, corporate governance, and Post-IPO performance of China's newly partially privatized firms☆ (2007)Earnings management and the underperformance of seasoned equity offerings11We thank Brad Barber (the referee), Randy Beatty, Vic Bernard, K.C. Chan, Kent Daniel, M. DeFond, Laura Field, David Heike, Chuan Yang Hwang, Jonathan Karpoff, S.P. Kothari, Charles Lee, Wayne Mikkelson (the editor), Tim Opler, Krishna Palepu, K. Ramesh, Jay Ritter, Terry Shevlin, Doug Skinner, Sheridan Titman, Ross Watts, Jerry Zimmerman, and seminar participants at the University of California Finance and Accounting Conference (Davis, March 1995), the NBER Corporate Finance Conference (Boston, August 1995), the Center for Research in Security Prices Seminar (Chicago, October 1995), the American Finance Association Conference (San Francisco, 1996), the American Accounting Association Conference (Chicago, August 1996), the University of Michigan, and the University of Rochester for helpful comments and discussions. (1998)From State to Market: A Survey of Empirical Studies on Privatization (2001)China share issue privatization: the extent of its success (2003)International Corporate Governance (2003)Using daily stock returns (1985)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)Market efficiency, long-term returns, and behavioral finance1The comments of Brad Barber, David Hirshleifer, S.P. Kothari, Owen Lamont, Mark Mitchell, Hersh Shefrin, Robert Shiller, Rex Sinquefield, Richard Thaler, Theo Vermaelen, Robert Vishny, Ivo Welch, and a referee have been helpful. Kenneth French and Jay Ritter get special thanks.1 (1998)Capital markets research in accounting (2001)Introductory Econometrics for Finance (2008)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Do Investors Trade Too Much? (1999)Managerial Decisions and Long‐Term Stock Price Performance (2000)The Economic Costs of Conflict: A Case Study of the Basque Country (2003)Multifactor Explanations of Asset Pricing Anomalies (1996)Conditioning Variables and the Cross-Section of Stock Returns (1999)The Long-Run Performance of Global Equity Offerings (2000)The History of the Cross-Section of Stock Returns (2018)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)Risk, Return, and Equilibrium: Empirical Tests (1973)The relationship between return and market value of common stocks (1981)A five-factor asset pricing model (2014)Investment banking, reputation, and the underpricing of initial public offerings (1986)Why new issues are underpriced (1986)Legitimacy, Interest Group Pressures, and Change in Emergent Institutions: The Case of Foreign Investors and Host Country Governments (2005)The impact of state ownership on performance differences in privately-owned versus state-owned banks: An international comparison (2009)Privatization and Risk Sharing: Evidence from the Split Share Structure Reform in China (2011)The Persistence of IPO Mispricing and the Predictive Power of Flipping (1999)Pseudo Market Timing and the Long‐Run Underperformance of IPOs (2003)Underpricing and long-term performance of IPOs in China (2003)Uniformly least powerful tests of market efficiency (2000)Short-sellers, fundamental analysis, and stock returns (2001)Econometrics of Event Studies**We thank Espen Eckbo, Jon Lewellen, Adam Kolasinski, and Jay Ritter for insightful comments, and Irfan Safdar and Alan Wancier for research assistance. (2007)
this work references cited by second hop

References

  • 1995The New Issues Puzzle3,550 cited
  • 1991The Long‐Run Performance of initial Public Offerings3,500 cited
  • 1997Detecting long-run abnormal stock returns: The empirical power and specification of test statistics2,690 cited
  • 1999Improved Methods for Tests of Long‐Run Abnormal Stock Returns1,826 cited
  • 1994The Financial and Operating Performance of Newly Privatized Firms: An International Empirical Analysis1,416 cited
  • 2001State-Owned and Privately Owned Firms: An Empirical Analysis of Profitability, Leverage, and Labor Intensity1,218 cited
  • 1997Measuring long-horizon security price performance991 cited
  • 1993The Long-Run Performance of Initial Public Offerings: The UK Experience 1980-1988469 cited
  • 1997Public Offerings of State-Owned and Privately-Owned Enterprises: An International Comparison339 cited
  • 1997Firm Size, Book-to-Market Ratio, and Security Returns: A Holdout Sample of Financial Firms323 cited
  • 2003The aftermarket performance of initial public offerings in Canada191 cited

Cited by

  • 2009Group affiliation and the performance of IPOs in the Indian stock market98 cited
  • 2005Do privatized banks in middle- and low-income countries perform better than rival banks? An intra-industry analysis of bank privatization96 cited
  • 2002The performance of privatized firms in the Czech Republic

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89 cited
  • 2004Do government-linked companies underperform?86 cited
  • 2000Privatization versus Private Sector Initial Public Offerings in Poland84 cited
  • 2003Privatisation Initial Public Offerings: the Polish Experience67 cited
  • 2005Privatization Through an Overseas Listing: Evidence from China's H-Share Firms65 cited
  • 2005UNDERPRICING AND LONG‐RUN PERFORMANCE OF SHARE ISSUE PRIVATIZATIONS IN THE EGYPTIAN STOCK MARKET65 cited
  • 2005THE PERFORMANCE AND LONG-RUN CHARACTERISTICS OF THE CHINESE IPO MARKET65 cited
  • 2010Long‐term Performance of Greek IPOs64 cited
  • 2000International cross-listing and stock market development in emerging economies61 cited
  • 2002Malaysia Privatization: A Comprehensive Study59 cited
  • 2010Privatization and Finance56 cited
  • 2001Confidence Building in Emerging Stock Markets51 cited
  • 2000Factors affecting the stock price performance of share issued privatizations44 cited
  • 2002Privatization in Canada: Operating and Stock Price Performance with International Comparisons43 cited