메뉴 건너뛰기




Volumn 55, Issue 3, 2000, Pages 1039-1074

When the underwriter is the market maker: An examination of trading in the IPO aftermarket

Author keywords

[No Author keywords available]

Indexed keywords


EID: 0040958428     PISSN: 00221082     EISSN: None     Source Type: Journal    
DOI: 10.1111/0022-1082.00240     Document Type: Article
Times cited : (315)

References (26)
  • 2
    • 45349112870 scopus 로고
    • Signaling by underpricing in the IPO market
    • Allen, Franklin, and Gerald Faulhaber, 1989, Signaling by underpricing in the IPO market, Journal of Financial Economics 23, 303-323.
    • (1989) Journal of Financial Economics , vol.23 , pp. 303-323
    • Allen, F.1    Faulhaber, G.2
  • 3
    • 0039527096 scopus 로고    scopus 로고
    • Effects of market reform on the trading costs and depths of Nasdaq stocks
    • Barclay, Michael, William Christie, Jeffrey Harris, Eugene Kandel, and Paul Schultz, 1998, Effects of market reform on the trading costs and depths of Nasdaq stocks, Journal of Finance 54, 1-34.
    • (1998) Journal of Finance , vol.54 , pp. 1-34
    • Barclay, M.1    Christie, W.2    Harris, J.3    Kandel, E.4    Schultz, P.5
  • 4
    • 37149005683 scopus 로고
    • Investment banking, reputation and the underpricing of initial public offerings
    • Beatty, Randolph, and Jay Ritter, 1986, Investment banking, reputation and the underpricing of initial public offerings, Journal of Financial Economics 15, 213-232.
    • (1986) Journal of Financial Economics , vol.15 , pp. 213-232
    • Beatty, R.1    Ritter, J.2
  • 5
    • 0030269005 scopus 로고    scopus 로고
    • Price stabilization as a bonding mechanism in new equity issues
    • Benveniste, Lawrence, Walid Busaba, and William Wilhelm, 1996, Price stabilization as a bonding mechanism in new equity issues, Journal of Financial Economics 42, 223-255.
    • (1996) Journal of Financial Economics , vol.42 , pp. 223-255
    • Benveniste, L.1    Busaba, W.2    Wilhelm, W.3
  • 6
    • 0039184677 scopus 로고
    • How investment bankers determine the offer price and allocation of new issues
    • Benveniste, Lawrence, and Paul Spindt, 1989, How investment bankers determine the offer price and allocation of new issues, Journal of Financial Economics 24, 343-362.
    • (1989) Journal of Financial Economics , vol.24 , pp. 343-362
    • Benveniste, L.1    Spindt, P.2
  • 7
    • 0010823295 scopus 로고
    • The overallotment option and initial public offerings of equity: Risks and underwriter prestige
    • Carter, Richard, and Frederick Dark, 1990, The overallotment option and initial public offerings of equity: risks and underwriter prestige, Financial Management 19, 55-64.
    • (1990) Financial Management , vol.19 , pp. 55-64
    • Carter, R.1    Dark, F.2
  • 8
    • 84977731975 scopus 로고
    • Initial public offering and underwriter reputation
    • Carter, Richard, and Steven Manaster, 1990, Initial public offering and underwriter reputation, Journal of Finance 45, 1045-1067.
    • (1990) Journal of Finance , vol.45 , pp. 1045-1067
    • Carter, R.1    Manaster, S.2
  • 9
    • 0040211611 scopus 로고    scopus 로고
    • The seven percent solution
    • Chen, Hsuan-Chi, and Jay Ritter, 2000, The seven percent solution, Journal of Finance 55, 1105-1131.
    • (2000) Journal of Finance , vol.55 , pp. 1105-1131
    • Chen, H.-C.1    Ritter, J.2
  • 11
    • 43949164598 scopus 로고
    • The underpricing of initial public offerings and the partial adjustment phenomenon
    • Hanley, Kathleen, 1993, The underpricing of initial public offerings and the partial adjustment phenomenon, Journal of Financial Economics 34, 231-250.
    • (1993) Journal of Financial Economics , vol.34 , pp. 231-250
    • Hanley, K.1
  • 12
  • 13
    • 0030116450 scopus 로고    scopus 로고
    • The marketing of closed-end fund IPOs: Evidence from transaction data
    • Hanley, Kathleen, Charles Lee, and Paul Seguin, 1996, The marketing of closed-end fund IPOs: Evidence from transaction data, Journal of Financial Intermediation 5, 127-159.
    • (1996) Journal of Financial Intermediation , vol.5 , pp. 127-159
    • Hanley, K.1    Lee, C.2    Seguin, P.3
  • 14
    • 0000372473 scopus 로고
    • Price performance of common stock new issues
    • Ibbotson, Roger, 1975, Price performance of common stock new issues, Journal of Financial Economics 2, 235-272.
    • (1975) Journal of Financial Economics , vol.2 , pp. 235-272
    • Ibbotson, R.1
  • 15
    • 77957763074 scopus 로고
    • Initial public offerings
    • Robert Jarrow, Vojislav Maksimovic, and William Ziemba, eds.: (North-Holland, Amsterdam)
    • Ibbotson, Roger, and Jay Ritter, 1995, Initial public offerings, in Robert Jarrow, Vojislav Maksimovic, and William Ziemba, eds.: Handbooks of Operations Research and Management Science: Finance (North-Holland, Amsterdam).
    • (1995) Handbooks of Operations Research and Management Science: Finance
    • Ibbotson, R.1    Ritter, J.2
  • 16
    • 0000112757 scopus 로고    scopus 로고
    • The persistence of IPO mispricing and the predictive power of flipping
    • Krigman, Laurie, Wayne Shaw, and Kent Womack, 1999, The persistence of IPO mispricing and the predictive power of flipping, Journal of Finance 54, 1015-1044.
    • (1999) Journal of Finance , vol.54 , pp. 1015-1044
    • Krigman, L.1    Shaw, W.2    Womack, K.3
  • 17
    • 84977730741 scopus 로고
    • Inferring trade direction from intraday data
    • Lee, Charles, and Mark Ready, 1991, Inferring trade direction from intraday data Journal of Finance 46, 733-746.
    • (1991) Journal of Finance , vol.46 , pp. 733-746
    • Lee, C.1    Ready, M.2
  • 18
    • 0040162533 scopus 로고
    • The pricing of initial public offerings: Tests of adverse selection and signaling theories
    • Michaely, Roni, and Wayne Shaw, 1994, The pricing of initial public offerings: tests of adverse selection and signaling theories, Review of Financial Studies 7, 279-319.
    • (1994) Review of Financial Studies , vol.7 , pp. 279-319
    • Michaely, R.1    Shaw, W.2
  • 19
    • 0039225384 scopus 로고    scopus 로고
    • Conflict of interest and the credibility of underwriter analyst recommendations
    • forthcoming
    • Michaely, Roni, and Kent Womack, 1998, Conflict of interest and the credibility of underwriter analyst recommendations, Review of Financial Studies, forthcoming.
    • (1998) Review of Financial Studies
    • Michaely, R.1    Womack, K.2
  • 22
    • 84977717063 scopus 로고
    • The long-run performance of initial public offerings
    • Ritter, Jay, 1991, The long-run performance of initial public offerings, Journal of Finance 46 3-27.
    • (1991) Journal of Finance , vol.46 , pp. 3-27
    • Ritter, J.1
  • 23
    • 0000423667 scopus 로고
    • Why new issues are underpriced
    • Rock, Kevin, 1986, Why new issues are underpriced, Journal of Financial Economics 15, 187-212.
    • (1986) Journal of Financial Economics , vol.15 , pp. 187-212
    • Rock, K.1
  • 25
    • 43949151471 scopus 로고
    • Aftermarket support and underpricing of initial public offerings
    • Schultz, Paul, and Mir Zaman, 1994, Aftermarket support and underpricing of initial public offerings, Journal of Financial Economics 35, 199-219.
    • (1994) Journal of Financial Economics , vol.35 , pp. 199-219
    • Schultz, P.1    Zaman, M.2
  • 26
    • 84977703615 scopus 로고
    • Seasoned offerings, imitation costs and the underpricing of initial public offerings
    • Welch, Ivo, 1989, Seasoned offerings, imitation costs and the underpricing of initial public offerings, Journal of Finance 44, 421-449.
    • (1989) Journal of Finance , vol.44 , pp. 421-449
    • Welch, I.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.