Do you really want to ask an underwriter how much money you should leave on the table?

Journal of International Financial Markets, Institutions and Money

Volumn 14, Issue 3, 2004, Pages 267-280

  Dimovski, William ^a   Brooks, Robert ^b  

^a DEAKIN UNIVERSITY   (Australia)

^b RMIT UNIVERSITY   (Australia)

Author keywords

Australian capital markets; IPOs; Underwriters

Indexed keywords

EID: 1342307334     PISSN: 10424431     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.intfin.2003.11.001     Document Type: Article

References (39)

1. Asquith D. Jones J.D. Kieschnick R. Evidence on price stabilisation and underpricing in early IPO returns The Journal of Finance 53 1998 1759-1773
2. Baron D.P. A model of the demand for investment banking advising and distribution services for new issues The Journal of Finance 37 1982 955-976
3. Barry C.B. Muscarella C.J. Peavy III. J.W. Vetsuypens M.R. The role of venture capital in the creation of public companies Journal of Financial Economics 27 1990 447-471
4. Beatty R.P. Auditor reputation and the pricing of initial public offerings The Accounting Review 64 1989 693-709
5. Beatty R.P. Ritter J.R. Investment banking, reputation, and the underpricing of initial public offerings Journal of Financial Economics 15 1986 213-232
6. Benveniste L.M. Spindt P.A. How investment bankers determine the offer price and allocation of new issues Journal of Financial Economics 24 1989 343-361
7. Benveniste L.M. Wilhelm W.J. A comparative analysis of IPO proceeds under alternative regulatory environments Journal of Financial Economics 28 1990 173-207
8. Booth J.R. Smith II. R.L. Capital raising, underwriting and the certification hypothesis Journal of Financial Economics 15 1986 261-281
9. Brealey, R., Stewart, M., Graham, P., David, R., 2000. Principles of Corporate Finance. McGraw-Hill, Sydney.
10. Carter R. Manaster S. Initial public offerings and underwriter reputation The Journal of Finance 45 1990 1045-1067
11. Chalk A.J. Peavy III. J.W. Initial public offerings: daily returns, offering types and the price effect Financial Analysts Journal 43 1987 65-69
12. Dunbar C.G. The use of warrants as underwriter compensation in initial public offerings Journal of Financial Economics 38 1995 59-78
13. Finn F.J. Higham R. The performance of unseasoned new equity issues-cum-stock exchange listings in Australia Journal of Banking and Finance 12 1988 333-351
14. Hanley K.W. Kumar A.A. Seguin P.J. Price stabilization in the market for new issues Journal of Financial Economics 34 1993 177-197
15. How J.C.Y. Voluntary forecast disclosure and the underpricing of IPOs Accounting Research Journal 9 1 1996 17-28
16. How J.C.Y. The initial and long run performances of mining IPOs in Australia Australian Journal of Management 25 1 2000 95-118
17. How J.C.Y. Howe J.S. Warrants in initial public offerings: empirical evidence Journal of Business 743 2001 433-458
18. How J.C.Y. Low J.G. Fractional ownership and underpricing: signals of IPO firm value Pacific-Basin Finance Journal 1 1993 47-65
19. How J.C.Y. Izan H.Y. Monroe G.S. Differential information and the underpricing of initial public offerings: Australian evidence Accounting and Finance 35 1995 87-105
20. Ibbotson R.G. Sindelar J.L. Ritter J.R. Initial public offerings Journal of Applied Corporate Finance 1 1988 37-45
21. Ibbotson R.G. Sindelar J.L. Ritter J.R. The market's problems with the pricing of initial public offerings Journal of Applied Corporate Finance 7 1994 66-74
22. James C. Relationship-specific assets and the pricing of underwriter services Journal of Finance 47 1992 1865-1885
23. James C. Wier P. Borrowing relationships, intermediation and the cost of issuing public securities Journal of Financial Economics 29 1990 149-172
24. Jenkinson, T., Ljungqvist, A., 1996. Going Public: The Theory and Evidence on How Companies Raise Equity Finance. Clarendon Express, Oxford.
25. Koop G. Li K. The valuation of IPO and SEO firms Journal of Empirical Finance 8 2001 375-401
26. Lee P.J. Taylor S.L. Walter T.S. Australian IPO pricing in the short and long run Journal of Banking and Finance 20 1996 1189-1210
27. Leleux, B.F., Muzyka, D.F., 1993. The Demise of European IPO Market: A Post-Issue Performance Study. Working Paper, INSEAD, USA.
28. Logue D.E. On the pricing of unseasoned equity issues: 1965-1969 Journal of Financial and Quantitative Analysis 8 1973 91-103
29. Loughran T. Ritter J.R. Rydqvist K. Initial public offerings: international insights Pacific-Basin Finance Journal 2 1994 165-199
30. Loughran T. Ritter J.R. Why don't issuers get upset about leaving money on the table in IPOs The Review of Financial Studies 152 2002 413-443
31. Michaely R. Shaw W.H. The pricing of initial public offerings: tests of adverse-selection and signaling theories The Review of Financial Studies 7 2 1994 279-319
32. Michaely R. Shaw W.H. Does the choice of auditor convey quality in an initial public offering Financial Management 24 1995 15-30
33. Muscarella C. Vetsuypens M.R. A simple test of Baron's model of IPO underpricing Journal of Financial Economics 24 1989 125-136
34. Rajan R. Servaes H. Analyst following of initial public offerings The Journal of Finance 52 1997 507-529
35. Ritter J.R. The "Hot Issue" market of 1980 Journal of Business 57 1984 269-281
36. Ruud J.S. Underwriter price support and the IPO underpricing puzzle Journal of Financial Economics 34 1993 135-151
37. Su D. Fleisher B.M. An empirical investigation of underpricing in Chinese IPOs Pacific-Basin Finance Journal 7 1999 173-202
38. Tinic S.M. Anatomy of initial public offerings of common stock The Journal of Finance 43 1988 789-822
39. White H. A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskesticity Econometrica 48 1980 817-838