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Underwriter price support and the IPO underpricing puzzle

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References

1983Limited-dependent and qualitative variables in econometrics13,257 cited
1965The Behavior of Stock-Market Prices8,707 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
1989How investment bankers determine the offer price and allocation of new issues1,815 cited
1984The "Hot Issue" Market of 19801,586 cited
1989Signalling by underpricing in the IPO market1,454 cited
1989Seasoned Offerings, Imitation Costs, and the Underpricing of Initial Public Offerings1,393 cited
1975Price performance of common stock new issues1,341 cited
1984Limited-Dependent and Qualitative Variables in Econometrics.1,310 cited
1977Foundations of Finance.1,128 cited
1989Signalling and the Pricing of New Issues1,049 cited
1982A Model of the Demand for Investment Banking Advising and Distribution Services for New Issues931 cited
1991The Long-Run Performance of Initial Public Offerings779 cited
1975

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"Hot Issue" Markets

645 cited

Cited by

1995Evidence on the strategic allocation of initial public offerings264 cited
1997Pricing initial public offerings: Further evidence from Germany252 cited
1993Price stabilization in the market for new issues219 cited
1994Aftermarket support and underpricing of initial public offerings214 cited
2003Allocations, adverse selection, and cascades in IPOs: Evidence from the Tel Aviv Stock Exchange191 cited
2007IPO Underpricing**Thanks for helpful comments go to Martijn Cremers, Espen Eckbo, Roger Edelen, David Goldreich, Tim Jenkinson, Ron Masulis, Jay Ritter, Ann Sherman, Seha Tinic, and William J. Wilhelm.188 cited
1996Price stabilization as a bonding mechanism in new equity issues158 cited
2004Are share price levels informative? Evidence from the ownership, pricing, turnover and performance of IPO firms143 cited
1995Chapter 30 Initial public offerings133 cited
1997Reputation and Financial Intermediation: An Empirical Investigation of the Impact of IPO Mispricing on Underwriter Market Value129 cited
2003Market-wide impact of the disposition effect: evidence from IPO trading volume129 cited
2000Price Discovery in Initial Public Offerings and the Role of the Lead Underwriter119 cited
2014Robust determinants of IPO underpricing and their implications for IPO research115 cited
2006Risk, Reputation, and IPO Price Support113 cited
2015How Does Ambiguity Influence IPO Underpricing? The Role of the Signalling Environment103 cited
1996Testing for Deliberate Underpricing in the IPO Premarket: A Stochastic Frontier Approach101 cited