메뉴 건너뛰기




Volumn 61, Issue 5, 2006, Pages 2289-2324

Are IPO allocations for sale? Evidence from mutual funds

Author keywords

[No Author keywords available]

Indexed keywords


EID: 33748800990     PISSN: 00221082     EISSN: 15406261     Source Type: Journal    
DOI: 10.1111/j.1540-6261.2006.01058.x     Document Type: Article
Times cited : (180)

References (25)
  • 1
    • 0037376384 scopus 로고    scopus 로고
    • Allocation of initial public offerings and flipping activity
    • Aggarwal, Reena, 2003, Allocation of initial public offerings and flipping activity, Journal of Financial Economies 68, 111-135.
    • (2003) Journal of Financial Economies , vol.68 , pp. 111-135
    • Aggarwal, R.1
  • 2
    • 0012402130 scopus 로고    scopus 로고
    • Institutional allocation in initial public offerings: Empirical evidence
    • Aggarwal, Reena, Nagpurnanand R. Prabhala, and Manju Puri, 2002, Institutional allocation in initial public offerings: Empirical evidence, Journal of Finance 57, 1421-1442.
    • (2002) Journal of Finance , vol.57 , pp. 1421-1442
    • Aggarwal, R.1    Prabhala, N.R.2    Puri, M.3
  • 3
    • 0011496477 scopus 로고
    • The incentive problem and the design of investment banking contracts
    • Baron, David P., 1979, The incentive problem and the design of investment banking contracts, Journal of Banking and Finance 3, 157-175.
    • (1979) Journal of Banking and Finance , vol.3 , pp. 157-175
    • Baron, D.P.1
  • 4
    • 0039184677 scopus 로고
    • How investment banks determine the offer price and allocation of new issues
    • Benveniste, Lawrence M., and Paul A. Spindt, 1989, How investment banks determine the offer price and allocation of new issues, Journal of Finance Economics 24, 343-362.
    • (1989) Journal of Finance Economics , vol.24 , pp. 343-362
    • Benveniste, L.M.1    Spindt, P.A.2
  • 5
    • 0042472012 scopus 로고    scopus 로고
    • Conflict of interest in universal banking: Bank lending, stock underwriting, and fund management
    • Ber, Hedva, Yishay Yafeh, and Oved Yosha, 2001, Conflict of interest in universal banking: Bank lending, stock underwriting, and fund management, Journal of Monetary Economics 47, 189-218.
    • (2001) Journal of Monetary Economics , vol.47 , pp. 189-218
    • Ber, H.1    Yafeh, Y.2    Yosha, O.3
  • 6
    • 33846137283 scopus 로고    scopus 로고
    • Do institutions receive more favorable allocations in IPOs with better long run market performance?
    • forthcoming
    • Boehmer, Beatrice, Ekkehart Boehmer, and Raymond P.H. Fishe, 2006, Do institutions receive more favorable allocations in IPOs with better long run market performance? Journal of Financial and Quantitative Analysis (forthcoming).
    • (2006) Journal of Financial and Quantitative Analysis
    • Boehmer, B.1    Boehmer, E.2    Fishe, R.P.H.3
  • 7
    • 0040211611 scopus 로고    scopus 로고
    • The seven percent solution
    • Chen, Hsuan-Chi, and Jay R. 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.R.2
  • 8
    • 10944234993 scopus 로고    scopus 로고
    • Do IPO firms purchase analyst coverage with underpricing?
    • Cliff, Michael, and David Denis, 2004, Do IPO firms purchase analyst coverage with underpricing? Journal of Finance 59, 2871-2901.
    • (2004) Journal of Finance , vol.59 , pp. 2871-2901
    • Cliff, M.1    Denis, D.2
  • 9
    • 0039739778 scopus 로고    scopus 로고
    • Bookbuilding and strategic allocation
    • Cornelli, Francesca, and David Goldreich, 2001, Bookbuilding and strategic allocation, Journal of Finance 56, 2337-2369.
    • (2001) Journal of Finance , vol.56 , pp. 2337-2369
    • Cornelli, F.1    Goldreich, D.2
  • 10
    • 33645074940 scopus 로고    scopus 로고
    • Favoritism in mutual fund families? Evidence of strategic cross-fund subsidization
    • Gaspar, José-Miguel, Massimo Massa, and Pedro Matos, 2006, Favoritism in mutual fund families? Evidence of strategic cross-fund subsidization, Journal of Finance 61, 73-104.
    • (2006) Journal of Finance , vol.61 , pp. 73-104
    • Gaspar, J.-M.1    Massa, M.2    Matos, P.3
  • 11
    • 0035588513 scopus 로고    scopus 로고
    • Underpricing and entrepreneurial wealth losses in IPOs: Theory and evidence
    • Habib, Michel A., and Alexander P. Ljungqvist, 2001, Underpricing and entrepreneurial wealth losses in IPOs: Theory and evidence, Review of Financial Studies 14, 433-458.
    • (2001) Review of Financial Studies , vol.14 , pp. 433-458
    • Habib, M.A.1    Ljungqvist, A.P.2
  • 12
    • 43949164598 scopus 로고
    • The underpricing of initial public offerings and the partial adjustment phenomenon
    • Hanley, Kathleen Weiss, 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.W.1
  • 13
    • 0000307785 scopus 로고
    • Evidence on the strategic allocation of initial public offerings
    • Hanley, Kathleen Weiss, and William J. Wilhelm, 1995, Evidence on the strategic allocation of initial public offerings, Journal of Financial Economics 37, 239-257.
    • (1995) Journal of Financial Economics , vol.37 , pp. 239-257
    • Hanley, K.W.1    Wilhelm, W.J.2
  • 14
    • 0012688602 scopus 로고    scopus 로고
    • Do investment banks compete in IPOs? the advent of the "7% plus" contract
    • Hansen, Robert S., 2001, Do investment banks compete in IPOs? The advent of the "7% plus" contract, Journal of Financial Economics 59, 313-846.
    • (2001) Journal of Financial Economics , vol.59 , pp. 313-846
    • Hansen, R.S.1
  • 15
    • 84942173622 scopus 로고    scopus 로고
    • Who gets the money on the table? A study of investment bank profit from equity offer underpricing
    • Tulane University
    • Hansen, Robert S., and Emir Hrnjić, 2003, Who gets the money on the table? A study of investment bank profit from equity offer underpricing, Working paper, Tulane University.
    • (2003) Working Paper
    • Hansen, R.S.1    Hrnjić, E.2
  • 16
    • 6344239443 scopus 로고    scopus 로고
    • Bids and allocations in European IPO bookbuilding
    • Jenkinson, Tim, and Howard Jones, 2004, Bids and allocations in European IPO bookbuilding, Journal of Finance 59, 2309-2338.
    • (2004) Journal of Finance , vol.59 , pp. 2309-2338
    • Jenkinson, T.1    Jones, H.2
  • 17
    • 0036697828 scopus 로고    scopus 로고
    • IPO allocations: Discriminatory or discretionary
    • Ljungqvist, Alexander P., and William J. Wilhelm, 2002, IPO allocations: Discriminatory or discretionary, Journal of Financial Economics 65, 167-201.
    • (2002) Journal of Financial Economics , vol.65 , pp. 167-201
    • Ljungqvist, A.P.1    Wilhelm, W.J.2
  • 18
    • 0142250304 scopus 로고    scopus 로고
    • IPO pricing in the dot-com bubble
    • Ljungqvist, Alexander P., and William J. Wilhelm, 2003, IPO pricing in the dot-com bubble, Journal. of Finance 58, 723-752.
    • (2003) Journal of Finance , vol.58 , pp. 723-752
    • Ljungqvist, A.P.1    Wilhelm, W.J.2
  • 19
    • 0036108222 scopus 로고    scopus 로고
    • Why don't issuers get upset about leaving money on the table in IPOs?
    • Loughran, Tim, and Jay R. Ritter, 2002, Why don't issuers get upset about leaving money on the table in IPOs? Review of Financial Studies 15, 413-443.
    • (2002) Review of Financial Studies , vol.15 , pp. 413-443
    • Loughran, T.1    Ritter, J.R.2
  • 20
    • 6344270172 scopus 로고    scopus 로고
    • Why has IPO underpricing changed over time?
    • Loughran, Tim, and Jay R. Ritter, 2004, Why has IPO underpricing changed over time? Financial Management 33, 5-37.
    • (2004) Financial Management , vol.33 , pp. 5-37
    • Loughran, T.1    Ritter, J.R.2
  • 21
    • 84977723575 scopus 로고
    • Venture capitalist certification in initial public offerings
    • Megginson, William, and Kathleen A. Weiss, 1991, Venture capitalist certification in initial public offerings, Journal of Finance 46, 879-903.
    • (1991) Journal of Finance , vol.46 , pp. 879-903
    • Megginson, W.1    Weiss, K.A.2
  • 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
  • 24
    • 0036331584 scopus 로고    scopus 로고
    • Building the IPO order book: Underpricing and participation limits with costly information
    • Sherman, Ann E., and Sheridan Titman, 2002, Building the IPO order book: Underpricing and participation limits with costly information, Journal of Financial Economics 65, 3-29.
    • (2002) Journal of Financial Economics , vol.65 , pp. 3-29
    • Sherman, A.E.1    Titman, S.2
  • 25
    • 4644299298 scopus 로고    scopus 로고
    • Why do IPO underwriters allocate extra shares when they expect to buy them back?
    • Zhang, Donghang, 2004, Why do IPO underwriters allocate extra shares when they expect to buy them back? Journal of Financial and Quantitative Analysis 39, 571-594.
    • (2004) Journal of Financial and Quantitative Analysis , vol.39 , pp. 571-594
    • Zhang, D.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.