Results 71 to 80 of about 9,379 (192)
Local underwriter oligopolies and IPO underpricing
Journal of Financial Economics, 2011 Abstract We develop a theory of initial public offering (IPO) underpricing based on differentiated underwriting services and localized competition. Even though a large number of investment banks compete for IPOs, if issuers care about non-price dimensions of underwriting, then the industry structure is best characterized as a series of local ...
Warrington College of Business Administration, University of Florida, Gainesville, FL 32611-7168, USA ( host institution ) +2 more
openaire +2 more sources
Anomalies and Their Short‐Sale Costs
The Journal of Finance, Volume 80, Issue 6, Page 3639-3694, December 2025.ABSTRACT Short‐sale costs eliminate the abnormal returns on asset pricing anomaly portfolios. While many anomalies persist out‐of‐sample before accounting for short‐sale costs, they cannot be exploited with long‐short strategies due to stock borrow fees.
DMITRIY MURAVYEV +2 more
wiley +1 more source
Who knows what when? : The information content of pre-IPO market prices : [Version March/June 2002] [PDF]
, 2002 To resolve the IPO underpricing puzzle it is essential to analyze who knows what when during the issuing process. In Germany, broker-dealers make a market in IPOs during the subscription period.
Löffler, Gunter +2 more
core
Going for Broke: Bank Reputation and the Performance of Opaque Securities
The Journal of Finance, Volume 80, Issue 6, Page 3263-3312, December 2025.ABSTRACT Can banks’ reputational concerns improve the quality of opaque, off‐balance sheet securities, such as mortgage‐backed securities? We study this question in a uniquely parsimonious setting. In the 1760s, Dutch banking partnerships securitized West‐Indian plantation mortgages that were risky and opaque.
ABE DE JONG +2 more
wiley +1 more source
Inflation and DER Fluctuations: The Underpricing Phenomenon
Almana: Jurnal Manajemen dan BisnisCapital markets reflect economic progress, with IPO and underpricing illustrating market and investor efficiency. This study aims to see how inflation and DER variables impact the underpricing value during the IPO years from 2021 to 2022. For this study,
Jufri Yandes
doaj +1 more source
Global Strategy Journal, Volume 15, Issue 4, Page 524-552, November 2025.Abstract Research Summary Foreign initial public offerings (IPOs) play a significant role in global stock markets. This paper aims to elucidate why foreign IPOs suffer from the liability of foreignness in capital markets (CMLOF) and how they overcome this liability. Building on international business research and the legitimacy perspective, I develop a
You‐Xiang Song
wiley +1 more source
Corporate Governance: An International Review, Volume 33, Issue 6, Page 1384-1410, November 2025.ABSTRACT Research Question/Issue At the turn of the 20th century, firms raised capital in a highly unregulated market characterized by severe information asymmetries and weak legal protection. In such a context, does the board of directors (BOD) play a significant role? If so, how? Research Findings/Insights We examine the relationship between the size
Marc Deloof +3 more
wiley +1 more source
The Impact of Reputable Law Firms on IPO Underpricing in Developing Countries
SAGE OpenThe purpose of this research is to evaluate the effect of issuing businesses engaging reputed law firms on the extent of underpricing in developing IPO markets. The consequences of the involvement of prestigious lawyers in underpricing IPO businesses are
Fouad Jamaani +2 more
doaj +1 more source
Underpricing, Risk Management, Hot Issue and Crowding out Effects: Evidence from the Australian Resources Sector Initital Public Offerings [PDF]
In this paper, we provide a comprehensive investigation of 260 initial public offerings (IPOs) in the Australian resource sector for the 1994 – 2004 period. Consistent with the existing IPO literature, we document a 16.13% underpricing return by firms in
Hoa Nguyen +2 more
core
The Determinants of Management Forecasts Error and the Ipo Underpricing: a Case Study of Indonesian Ipo [PDF]
, 2011 To reduce the well-known information asymmetry in the IPO market, the issuing firms are required to publish offering prospectuses. One type of information disclosed in the prospectus is the management financial forecasts in which the IPO firms predict ...
Ekaputra, I. A. (Irwan) +2 more
core