Warrants in initial public offerings: Empirical evidence

Journal of Business

Volumn 74, Issue 3, 2001, Pages 433-457

  How, Janice C Y ^a   Howe, John S ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0039298205     PISSN: 00219398     EISSN: None     Source Type: Journal    
DOI: 10.1086/321933     Document Type: Article

References (27)

1. Ang, J. S.; Cole, R. A.; and Lin, J. W. 2000. Agency costs and ownership structure. Journal of Finance 55:81-106.
2. Balvers, R. J.; McDonald, B.; and Miller, R. E. 1988. Underpricing of new issues and the choice of auditor as a signal of investment banker reputation. Accounting Review 63:605-22.
3. Barclay, M., and Smith, C. 1995a. The maturity structure of corporate debt. Journal of Finance 50:609-31.
4. Barclay, M., and Smith, C. 1995b. The priority structure of corporate debt. Journal of Finance 50:899-917.
5. Beatty, R. P. 1989. Auditor reputation and the pricing of initial public offerings. Accounting Review 64:693-709.
6. Beatty, R. P., and Ritter, J. R. 1986. Investment banking, reputation, and the underpricing of initial public offerings. Journal of Financial Economics 15:213-32.
7. Carter, R., and Manaster, S. 1990. Initial public offerings and underwriter reputation. Journal of Finance 45:1045-67.
8. Chalk, A. J., and Peavy, J. W. 1987. Initial public offerings: Daily returns, offering types and the price effect. Financial Analysts Journal 43 (September/October): 65-69.
9. Chemmanur, T. J., and Fulghieri, P. 1997. Why include warrants in new equity issues? A theory of unit IPOs. Journal of Financial and Quantitative Analysis 32:1-24.
10. Chung, K. H., and Pruitt, S. W. 1994. A simple approximation of Tobin's q. Financial Management 23:70-74.
11. Finn, F. J., and Higham, R. 1988. The performance of unseasoned new equity issues-cum-stock exchange listings in Australia. Journal of Banking and Finance 12:333-52.
12. Grinblatt, M., and Hwang, C. Y. 1989. Signalling and the pricing of new issues. Journal of Finance 44:93-420.
13. How, J. C. Y.; Izan, H. Y.; and Monroe, G. S. 1995. Differential information and the underpricing of IPOs in Australia. Accounting and Finance 35 (May): 87-106.
14. Ibbotson, R. G.; Sindelar, J.; and Ritter, J. 1988. Initial public offerings. Journal of Applied Corporate Finance 6:37-45.
15. Jensen, M. 1986. The agency cost of free cash flow, corporate finance, and takeovers. American Economic Review 76:323-29.
16. Kang, J. K.; Kim, Y. C.; Park, K. J.; and Stulz, R. 1995. An analysis of the wealth effects of Japanese offshore dollar-denominated convertible and warrant bond issues. Journal of Financial and Quantitative Analysis 30:257-70.
17. Krishnaswami, S.; Spindt, P. A.; and Subramaniam, V. 1999. Information asymmetry, monitoring, and the placement of corporate debt. Journal of Financial Economics 51:407-34.
18. Krishnaswami, S., and Subramaniam, V. 1999. Information asymmetry, valuation, and the corporate spin-off decision. Journal of Financial Economics 53:73-112.
19. Lee, P.; Taylor, S.; and Walter, T. 1996. Australian IPO pricing in the short and long run. Journal of Banking and Finance 20:1189-1210.
20. Ritter, J. R. 1984. The "hot issues" market of 1980. Journal of Business 57:215-40.
21. Rock, K. 1986. Why new issues are underpriced. Journal of Financial Economics 15:187-212.
22. Ross, S. 1977. The determination of financial structure: The incentive signalling approach. Bell Journal of Economics 8:23-40.
23. Sahlman, W. 1990. The structure and governance of venture capital organizations. Journal of Financial Economics 27:473-524.
24. Schultz, P. 1993a. Calls of warrants: Timing and market reaction. Journal of Finance 48:681-96.
25. Schultz, P. 1993b. Unit initial public offerings: A form of staged financing. Journal of Financial Economics 34:199-229.
26. Smith, C. W., Jr., and Watts, R. L. 1992. The investment opportunity set and corporate financing, dividend, and compensation policies. Journal of Financial Economics 32:263-92.
27. Wolfe, G. A., and Cooperman, E. S. 1990. A reassessment of the excess return phenomenon for initial public offerings of common stock. Journal of Applied Business Research 6:40-50.