메뉴 건너뛰기




Volumn 19, Issue 2-3, 2001, Pages 99-113

The Underpricing of Venture and Nonventure Capital IPOs: An Empirical Investigation

Author keywords

Deliberate underpricing; IPOs; Stochastic frontier; Venture backed IPOs

Indexed keywords


EID: 0035630090     PISSN: 09208550     EISSN: None     Source Type: Journal    
DOI: 10.1023/A:1011134715911     Document Type: Article
Times cited : (64)

References (26)
  • 1
    • 0040805978 scopus 로고    scopus 로고
    • Stabilization Activities by Underwriters after IPOs
    • Agarwall, R. "Stabilization Activities by Underwriters After IPOs." Journal of Finance 55 (2000), 1075-1103.
    • (2000) Journal of Finance , vol.55 , pp. 1075-1103
    • Agarwall, R.1
  • 2
    • 49449120922 scopus 로고
    • Formulation and the Estimation of Stochastic Frontier Production Models
    • Aigner, D., K. Lovell, and P. Schmidt. "Formulation and the Estimation of Stochastic Frontier Production Models." Journal of Econometrics 6 (1977), 21-37.
    • (1977) Journal of Econometrics , vol.6 , pp. 21-37
    • Aigner, D.1    Lovell, K.2    Schmidt, P.3
  • 3
    • 45349112870 scopus 로고
    • Signaling by Underpricing in the IPO Market
    • Allen, F., and G. Faulhaber. "Signaling by Underpricing in the IPO Market." Journal of Financial Economics 23 (1989), 303-323.
    • (1989) Journal of Financial Economics , vol.23 , pp. 303-323
    • Allen, F.1    Faulhaber, G.2
  • 4
    • 33845397012 scopus 로고
    • A Model of the Demand for Investment Banking Advising and Distribution Services for New Issues
    • Baron, David P. "A Model of the Demand for Investment Banking Advising and Distribution Services for New Issues." Journal of Finance 37 (1982), 955-976.
    • (1982) Journal of Finance , vol.37 , pp. 955-976
    • Baron, D.P.1
  • 5
    • 0001671710 scopus 로고
    • The Role of Venture Capital in the Creation of Public Companies: Evidence from the Going-Public Process
    • Barry, C., C. Muscarella, H. Peavy, and M. Vetsuypens. "The Role of Venture Capital in the Creation of Public Companies: Evidence from the Going-Public Process." Journal of Financial Economics 27 (1990), 447-476.
    • (1990) Journal of Financial Economics , vol.27 , pp. 447-476
    • Barry, C.1    Muscarella, C.2    Peavy, H.3    Vetsuypens, M.4
  • 6
    • 0007193104 scopus 로고    scopus 로고
    • Myth or Reality? The Long-Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital-Backed Companies
    • Brav, A., and P. A. Gompers. "Myth or Reality? The Long-Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital-Backed Companies." Journal of Finance 52 (1997), 1791-1821.
    • (1997) Journal of Finance , vol.52 , pp. 1791-1821
    • Brav, A.1    Gompers, P.A.2
  • 8
    • 0037855539 scopus 로고    scopus 로고
    • Underwriter Reputation, Initial Returns, and the Long-Run Performance of IPO Stocks
    • Carter, R., F. Dark, and A. Singh. "Underwriter Reputation, Initial Returns, and the Long-Run Performance of IPO Stocks." Journal of Finance 53, (1998), 285-312.
    • (1998) Journal of Finance , vol.53 , pp. 285-312
    • Carter, R.1    Dark, F.2    Singh, A.3
  • 9
    • 84993921360 scopus 로고
    • The Pricing of Initial Public Offerings: A Dynamic Model with Information Production
    • Chemmanur, T. "The Pricing of Initial Public Offerings: A Dynamic Model with Information Production." Journal of Finance 48 (1993), 678-690.
    • (1993) Journal of Finance , vol.48 , pp. 678-690
    • Chemmanur, T.1
  • 11
    • 0002352750 scopus 로고
    • The Use of Warrants as Underwriter Compensation in Initial Public Offerings
    • Dunbar, C. "The Use of Warrants as Underwriter Compensation in Initial Public Offerings." Journal of Financial Economics 38 (1995), 59-78.
    • (1995) Journal of Financial Economics , vol.38 , pp. 59-78
    • Dunbar, C.1
  • 12
    • 0031161474 scopus 로고    scopus 로고
    • Overallotment Option Restrictions and Contract Choice in Initial Public Offerings
    • Dunbar, C. "Overallotment Option Restrictions and Contract Choice in Initial Public Offerings." Journal of Corporate Finance 3 (1997), 251-275.
    • (1997) Journal of Corporate Finance , vol.3 , pp. 251-275
    • Dunbar, C.1
  • 13
    • 0042362906 scopus 로고    scopus 로고
    • Underpricing of Venture and Nonventure Backed IPOs in the U.S
    • working paper, Stern of School of Business, New York University
    • Francis, B., and I. Hasan. "Underpricing of Venture and Nonventure Backed IPOs in the U.S.," working paper, Berkley Entrepreneural Center, Stern of School of Business, New York University, 2000.
    • (2000) Berkley Entrepreneural Center
    • Francis, B.1    Hasan, I.2
  • 14
    • 84977725468 scopus 로고
    • Signaling and Pricing of New Issues
    • Grinblatt, M., and C. Hwang. "Signaling and Pricing of New Issues." Journal of Finance 44 (1989), 393-420.
    • (1989) Journal of Finance , vol.44 , pp. 393-420
    • Grinblatt, M.1    Hwang, C.2
  • 15
  • 16
    • 0030492112 scopus 로고    scopus 로고
    • Testing for Deliberate Underpricing in the IPO Premarket: A Stochastic Frontier Approach
    • Hung-McCool, J., S. Koh, and B. Francis. "Testing for Deliberate Underpricing in the IPO Premarket: A Stochastic Frontier Approach." Review of Financial Studies 9 (1996), 1251-1269.
    • (1996) Review of Financial Studies , vol.9 , pp. 1251-1269
    • Hung-McCool, J.1    Koh, S.2    Francis, B.3
  • 17
    • 49049139741 scopus 로고
    • On the Estimation of Technical Inefficiency in the Stochastic Frontier Production Function Model
    • Jondrow, J., K. Lovell, I. Materov, and P. Schmidt. "On the Estimation of Technical Inefficiency in the Stochastic Frontier Production Function Model." Journal of Econometrics 19 (1982), 233-238.
    • (1982) Journal of Econometrics , vol.19 , pp. 233-238
    • Jondrow, J.1    Lovell, K.2    Materov, I.3    Schmidt, P.4
  • 18
    • 0001200084 scopus 로고
    • Venture Capitalists and the Decision to Go Public
    • Lerner, J. "Venture Capitalists and the Decision to Go Public." Journal of Financial Economics 35 (1994), 293-316.
    • (1994) Journal of Financial Economics , vol.35 , pp. 293-316
    • Lerner, J.1
  • 19
    • 84977723575 scopus 로고
    • Venture Capitalist Certification in Initial Public Offerings
    • Megginson, W., and K. Weiss. "Venture Capitalist Certification in Initial Public Offerings." Journal of Finance 46 (1991), 879-903.
    • (1991) Journal of Finance , vol.46 , pp. 879-903
    • Megginson, W.1    Weiss, K.2
  • 20
    • 0000976473 scopus 로고
    • Efficiency in the Savings and Loan Industry
    • Mester, L. "Efficiency in the Savings and Loan Industry." Journal of Banking and Finance 17 (1993), 67-286.
    • (1993) Journal of Banking and Finance , vol.17 , pp. 67-286
    • Mester, L.1
  • 21
    • 0001447776 scopus 로고
    • Econometric Issues in the Analysis of Regressions with Generated Regressors
    • Pagan, A. "Econometric Issues in the Analysis of Regressions with Generated Regressors." International Economic Review (1984), 221-247.
    • (1984) International Economic Review , pp. 221-247
    • Pagan, A.1
  • 22
    • 84977717063 scopus 로고
    • The Long-Run Performance of Initial Public Offerings
    • Ritter, J. "The Long-Run Performance of Initial Public Offerings." Journal of Finance 46 (1991), 3-27.
    • (1991) Journal of Finance , vol.46 , pp. 3-27
    • Ritter, J.1
  • 23
    • 0000423667 scopus 로고
    • Why New Issues Are Underpriced
    • Rock, K. "Why New Issues Are Underpriced." Journal of Financial Economics 15 (1986), 187-212.
    • (1986) Journal of Financial Economics , vol.15 , pp. 187-212
    • Rock, K.1
  • 24
    • 0001145095 scopus 로고
    • Underwriter Price Support and the IPO Underpricing Puzzle
    • Ruud, J. "Underwriter Price Support and the IPO Underpricing Puzzle." Journal of Financial Economics 34 (1993), 135-151.
    • (1993) Journal of Financial Economics , vol.34 , pp. 135-151
    • Ruud, J.1
  • 25
    • 84977718972 scopus 로고
    • Anatomy of Initial Public Offerings of Common Stock
    • Tinic, S. M. "Anatomy of Initial Public Offerings of Common Stock." Journal of Finance 43 (1988), 789-822.
    • (1988) Journal of Finance , vol.43 , pp. 789-822
    • Tinic, S.M.1
  • 26
    • 84977703615 scopus 로고
    • Seasoned Offerings, Imitation Costs, and the Underpricing of Initial Public Offerings
    • Welch, I. "Seasoned Offerings, Imitation Costs, and the Underpricing of Initial Public Offerings." Journal of Finance 44 (1989), 421-449.
    • (1989) Journal of Finance , vol.44 , pp. 421-449
    • Welch, I.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.