Results 171 to 180 of about 9,379 (192)
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Financial Analysts Journal, 1987
(1987). Underpricing in Canadian IPOs. Financial Analysts Journal: Vol. 43, No. 6, pp. 48-55.
Vijay M. Jog, Allan L. Riding
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(1987). Underpricing in Canadian IPOs. Financial Analysts Journal: Vol. 43, No. 6, pp. 48-55.
Vijay M. Jog, Allan L. Riding
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SSRN Electronic Journal, 2014
SEBI, the Indian securities market regulator has set a unique example for the entire world by introducing IPO grading in India. The purpose of this grading was to provide retail investors with a ready-made assessment of the fundamental quality of the issuer of an IPO, so they could make a better and informed investment decision in an era of information
Sudesh Kumar Sharma +2 more
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SEBI, the Indian securities market regulator has set a unique example for the entire world by introducing IPO grading in India. The purpose of this grading was to provide retail investors with a ready-made assessment of the fundamental quality of the issuer of an IPO, so they could make a better and informed investment decision in an era of information
Sudesh Kumar Sharma +2 more
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Journal of Corporate Finance, 2015
Abstract Before the IPO bubble burst, the first day return for IPOs backed by top VC firms was double that of non-top VC IPOs. Top VC IPOs were also twice as likely to receive all-star analyst coverage and suffered twice as large negative returns upon lockup expiration. We argue that this was not a coincidence.
Daniel Bradley +2 more
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Abstract Before the IPO bubble burst, the first day return for IPOs backed by top VC firms was double that of non-top VC IPOs. Top VC IPOs were also twice as likely to receive all-star analyst coverage and suffered twice as large negative returns upon lockup expiration. We argue that this was not a coincidence.
Daniel Bradley +2 more
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Auditor Selection and IPO Underpricing
2018This chapter focuses on the selection of an audit firm by UK initial public offering (IPO) firms. It documents that many IPO firms switch to an audit firm in a different segment (big, midsize, or small), which suggests that IPO firms carefully select an audit firm of a particular quality level before they go public. It examines whether the selection of
Koning, Miriam +2 more
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Executive Stock Options and IPO Underpricing
SSRN Electronic Journal, 2006In about one-third of US IPOs between 1996 and 2000, executives received stock options with an exercise price set equal to the IPO offer price (rather than a price determined by the market). Among firms with such “IPO options”, 58 percent of top executives receive a net gain from underpricing, meaning the gain from IPO options exceeds the loss from the
Michelle Lowry, Kevin J. Murphy
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From underpricing to unconstrained China's IPO underpricing
2017This paper explores one possible channel that could explain part of the large IPO underpricing of firms listed in the Small and Medium Enterprise Board of Shenzhen Stock Exchange in China. Firms use underpricing to signal their growth potential and attract bank-related investors to establish banking relationship via them.
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SSRN Electronic Journal, 2013
We consider IPO issuances as multi-units auctions, where privately informed bidders are risk-averse. At the optimal IPO and fixed-price auctions, we show that when individual beliefs about the valuation of the shares increase in the sense of either first-order or second order stochastic dominance, the equilibrium price decreases. For Walrasian auctions
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We consider IPO issuances as multi-units auctions, where privately informed bidders are risk-averse. At the optimal IPO and fixed-price auctions, we show that when individual beliefs about the valuation of the shares increase in the sense of either first-order or second order stochastic dominance, the equilibrium price decreases. For Walrasian auctions
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Underpricing versus Underinvestment in IPOs
SSRN Electronic Journal, 2005We study signaling equilibria at the IPO when owners determine not only the price at which to sell primary equity but also the amount of investment proceeds to raise. This implies owners have a choice of two signals at the IPO, i.e., investment oriented signaling and underpricing.
Andrew H. Roper, Min Shi
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Media Coverage and IPO Underpricing
SSRN Electronic Journal, 2007We document that media coverage before the IPO day significantly relates to IPO underpricing. The relation is asymmetrical: more media articles are associated with more underpricing when the offer price is revised upwards from the midpoint of the initial filing range, while there is no significant relationship between media coverage and underpricing ...
Laura Xiaolei Liu +2 more
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IPO Underpricing: A Liquidity Based Explanation
SSRN Electronic Journal, 2012The underpricing of initial public offerings (IPOs) is a deeply investigated phenomenon, commonly explained with asymmetric information and risk. Ellul and Pagano (2006) first linked the underpricing with liquidity proxies like liquidity risk and effective spread.
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