메뉴 건너뛰기




Volumn 38, Issue 2, 2009, Pages 285-300

Underpricing and Ex Post Value Uncertainty

Author keywords

[No Author keywords available]

Indexed keywords


EID: 70349924963     PISSN: 00463892     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1755-053X.2009.01036.x     Document Type: Article
Times cited : (25)

References (39)
  • 1
    • 0037376384 scopus 로고    scopus 로고
    • Allocation of initial public offerings and flipping activity
    • Aggarwal, R., 2003, "Allocation of Initial Public Offerings and Flipping Activity Journal of Financial Economics 68, 111-135.
    • (2003) Journal of Financial Economics , vol.68 , pp. 111-135
    • Aggarwal, R.1
  • 2
    • 0041029535 scopus 로고    scopus 로고
    • Price discovery in initial public offerings and the role of the lead underwriter
    • Aggarwal, R. and P. Conroy, 2000, "Price Discovery in Initial Public Offerings and the Role of the Lead Underwriter Journal of Finance 55, 2903-2922.
    • (2000) Journal of Finance , vol.55 , pp. 2903-2922
    • Aggarwal, R.1    Conroy, P.2
  • 3
    • 0012402130 scopus 로고    scopus 로고
    • Institutional allocation in initial public offerings: Empirical evidence
    • Aggarwal, R., R.P. Nagpurnanand, and M. 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    Nagpurnanand, R.P.2    Puri, M.3
  • 5
    • 0011458254 scopus 로고
    • The opening price performance of initial public offering of common stock
    • Barry, C.B. and R.H. Jennings, 1993, "The Opening Price Performance of Initial Public Offering of Common Stock Financial Management 22, 54-63.
    • (1993) Financial Management , vol.22 , pp. 54-63
    • Barry, C.B.1    Jennings, R.H.2
  • 6
    • 37149005683 scopus 로고
    • Investment banking reputation, and the underpricing of initial public offerings
    • Beatty, R. and J. Ritter, 1986, "Investment Banking, Reputation, and the Underpricing of Initial Public Offerings Journal ofFinancial Economics 15, 213-232.
    • (1986) Journal OfFinancial Economics , vol.15 , pp. 213-232
    • Beatty, R.1    Ritter, J.2
  • 7
    • 0030529155 scopus 로고    scopus 로고
    • Issuer expenses and legal liability in initial public offerings
    • Beatty, R.P. and I. Welch, 1996, "Issuer Expenses and Legal Liability in Initial Public Offerings Journal of Law and Economics 39, 545-602.
    • (1996) Journal of Law and Economics , vol.39 , pp. 545-602
    • Beatty, R.P.1    Welch, I.2
  • 9
    • 0039184677 scopus 로고
    • How investment bankers determine the offer price and the allocation of new issues
    • Benveniste, L. and P.A. Spindt, 1989, "How Investment Bankers Determine the Offer Price and the Allocation of New Issues Journal of Financial Economics 24, 343-361.
    • (1989) Journal of Financial Economics , vol.24 , pp. 343-361
    • Benveniste, L.1    Spindt, P.A.2
  • 10
    • 11244334290 scopus 로고    scopus 로고
    • The pricing of equity IPOs that follow public debt offerings
    • Cai, N., L. Ramchand, and A. Warga, 2004, "The Pricing of Equity IPOs that Follow Public Debt Offerings Financial Management 33, 5-26.
    • (2004) Financial Management , vol.33 , pp. 5-26
    • Cai, N.1    Ramchand, L.2    Warga, A.3
  • 11
    • 0039842567 scopus 로고    scopus 로고
    • Price discovery without trading: Evidence from the NASDAQ pre-opening
    • Cao, C., E. Ghysels, and F. Hathaway, 2000, "Price Discovery without Trading: Evidence from the NASDAQ Pre-Opening Journal of Finance 55, 1339-1365.
    • (2000) Journal of Finance , vol.55 , pp. 1339-1365
    • Cao, C.1    Ghysels, E.2    Hathaway, F.3
  • 12
    • 84977731975 scopus 로고
    • Initial public offerings and underwriter reputation
    • Carter, R. and S. Manaster, 1990, "Initial Public Offerings and Underwriter Reputation Journal of Finance 45, 1045-1068.
    • (1990) Journal of Finance , vol.45 , pp. 1045-1068
    • Carter, R.1    Manaster, S.2
  • 13
    • 0037855539 scopus 로고    scopus 로고
    • Underwriter reputation, initial returns, and the long-run performance of IPO stocks
    • Carter, R., F. Dark, and A. Singh, 1998, "Underwriter Reputation, Initial Returns, and the Long-Run Performance of IPO Stocks Journal of Finance 53, 285-311. (Pubitemid 128344207)
    • (1998) Journal of Finance , vol.53 , Issue.1 , pp. 285-311
    • Carter, R.B.1    Dark, F.H.2    Singh, A.K.3
  • 14
    • 21844525728 scopus 로고
    • Market structure and the intraday pattern of bid-ask spreads for NASDAQ securities
    • Chan, K.C., W.G. Christie, and P.H. Schultz, 1995, "Market Structure and the Intraday Pattern of Bid-Ask Spreads for NASDAQ Securities Journal ofBusiness 68, 35-60.
    • (1995) Journal OfBusiness , vol.68 , pp. 35-60
    • Chan, K.C.1    Christie, W.G.2    Schultz, P.H.3
  • 15
    • 56349153300 scopus 로고    scopus 로고
    • A theory of the transition to secondary market trading of IPOs
    • Chen Z. and W. Wilhelm, 2008 "A Theory of the Transition to Secondary Market Trading of IPOs Journal ofFinancial Economics 90, 219-236.
    • (2008) Journal OfFinancial Economics , vol.90 , pp. 219-236
    • Chen, Z.1    Wilhelm, W.2
  • 16
    • 0142219293 scopus 로고    scopus 로고
    • Bookbuilding: How informative is the order book?
    • Cornelli, F. and D. Goldreich, 2003, "Bookbuilding: How Informative Is the Order Book?" Journal of Finance 58, 1415-1443.
    • (2003) Journal of Finance , vol.58 , pp. 1415-1443
    • Cornelli, F.1    Goldreich, D.2
  • 17
    • 0039294771 scopus 로고    scopus 로고
    • The Initial Listing Decisions of Firms That Go Public
    • Corwin, S. and J. Harris, 2001, "The Initial Listing Decisions of Firms That Go Public Financial Management 30, 35-56. (Pubitemid 33273935)
    • (2001) Financial Management , vol.30 , pp. 35-56
    • Corwin, S.A.1    Harris, J.H.2
  • 18
    • 6344283109 scopus 로고    scopus 로고
    • The development of secondary market liquidity for NYSE-Listed IPOs
    • Corwin, S., J. Harris, and M. Lipson, 2004, "The Development of Secondary Market Liquidity for NYSE- Listed IPOs Journal of Finance 59, 2339-2372.
    • (2004) Journal of Finance , vol.59 , pp. 2339-2372
    • Corwin, S.1    Harris, J.2    Lipson, M.3
  • 19
    • 0040418650 scopus 로고    scopus 로고
    • The effect of uncertainty on the underpricing of IPOs
    • Draho J., 2001, "The Effect of Uncertainty on the Underpricing of IPOs Yale University Working Paper.
    • (2001) Yale University Working Paper.
    • Draho, J.1
  • 20
    • 33645736962 scopus 로고    scopus 로고
    • IPO Underpricing and aftermarket liquidity
    • Ellul, A. and M. Pagano, 2006, "IPO Underpricing and Aftermarket Liquidity Review of Financial Studies 19, 381-421.
    • (2006) Review of Financial Studies , vol.19 , pp. 381-421
    • Ellul, A.1    Pagano, M.2
  • 21
    • 0043095579 scopus 로고    scopus 로고
    • Takeover defenses of IPO firms
    • Field, L.C. and J. Karpoff, 2002, "Takeover Defenses of IPO Firms Journal of Finance 57, 1857-1889.
    • (2002) Journal of Finance , vol.57 , pp. 1857-1889
    • Field, L.C.1    Karpoff, J.2
  • 22
    • 45549119325 scopus 로고
    • The Performance of unseasoned new equity issues-cum-stock exchange listings in australia
    • Finn, F.J. and R. Higham, 1988, "The Performance of Unseasoned New Equity Issues-cum-Stock Exchange Listings in Australia Journal of Banking and Finance 12, 333-351.
    • (1988) Journal of Banking and Finance , vol.12 , pp. 333-351
    • Finn, F.J.1    Higham, R.2
  • 23
    • 84988101375 scopus 로고
    • A theory of the distribution of underpriced initial public offers by investment banks
    • Fulghieri, P. and M. Spiegel, 1993, "A Theory of the Distribution of Underpriced Initial Public Offers by Investment Banks Journal of Economics and Management Strategy 2, 509-530.
    • (1993) Journal of Economics and Management Strategy , vol.2 , pp. 509-530
    • Fulghieri, P.1    Spiegel, M.2
  • 25
    • 0035588513 scopus 로고    scopus 로고
    • Underpricing and entrepreneurial wealth losses in IPOs: theory and evidence
    • Habib, M.A. and A.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
  • 26
    • 0000975175 scopus 로고    scopus 로고
    • Institutional affiliation and the role of venture capital: Evidence from initial public offerings in japan
    • Hamao, Y., F. Packer, and J.R. Ritter, 2000, "Institutional Affiliation and the Role of Venture Capital: Evidence from Initial Public Offerings in Japan Pacific-Basin Finance Journal 8, 529-558.
    • (2000) Pacific-Basin Finance Journal , vol.8 , pp. 529-558
    • Hamao, Y.1    Packer, F.2    Ritter, J.R.3
  • 27
    • 38249017555 scopus 로고
    • Borrowing relationships intermediation and the cost of issuing public securities
    • James, C. and P. Wier, 1990, "Borrowing Relationships, Intermediation and the Cost of Issuing Public Securities Journal ofFinancial Economics 28, 149-171.
    • (1990) Journal OfFinancial Economics , vol.28 , pp. 149-171
    • James, C.1    Wier, P.2
  • 29
    • 6344270172 scopus 로고    scopus 로고
    • Why has IPO underpricing increased overtime?
    • Loughran, T. and J. Ritter, 2004, "Why Has IPO Underpricing Increased Overtime?" Financial Management 33, 5-37.
    • (2004) Financial Management , vol.33 , pp. 5-37
    • Loughran, T.1    Ritter, J.2
  • 31
    • 0000600230 scopus 로고
    • An Examination of the underpricing of initial public offerings in hong kong: 1980-90
    • McGuinness, P., 1992, "An Examination of the Underpricing of Initial Public Offerings in Hong Kong: 1980-90 Journal of Business Finance and Accounting 19, 165-186.
    • (1992) Journal of Business Finance and Accounting , vol.19 , pp. 165-186
    • McGuinness, P.1
  • 32
    • 84977723575 scopus 로고
    • Venture capitalist certification in initial public offerings
    • Megginson, W. and K.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
  • 33
    • 21844525005 scopus 로고
    • Does the choice of auditor convey quality in an initial public offering?
    • Michaely, R. and W.H. Shaw, 1995, "Does the Choice of Auditor Convey Quality in an Initial Public Offering?" Financial Management 24, 15-30.
    • (1995) Financial Management , vol.24 , pp. 15-30
    • Michaely, R.1    Shaw, W.H.2
  • 34
    • 0001605968 scopus 로고
    • The 'hot issue' market of 1980
    • Ritter, J.R., 1984, "The 'Hot Issue' Market of 1980 Journal of Business 57, 215-240.
    • (1984) Journal of Business , vol.57 , pp. 215-240
    • Ritter, J.R.1
  • 35
    • 0000423667 scopus 로고
    • Why new issues are underpriced
    • Rock, K., 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
  • 37
    • 84977718972 scopus 로고
    • Anatomy of initial public offerings of common stock
    • Tinic, S.M., 1988, "Anatomy of Initial Public Offerings of Common Stock Journal of Finance 43,789-822.
    • (1988) Journal of Finance , vol.43 , pp. 789-822
    • Tinic, S.M.1
  • 38
    • 0042592352 scopus 로고
    • Pricing initial public offerings: Evidence from Germany
    • Wasserfallen, W. and C. Wittleder, 1994, "Pricing Initial Public Offerings: Evidence from Germany European Economic Review 38, 1505-1517.
    • (1994) European Economic Review , vol.38 , pp. 1505-1517
    • Wasserfallen, W.1    Wittleder, C.2
  • 39
    • 0000095552 scopus 로고
    • A heteroscedasticity-consistent covariance matrix estimator and direct test for het- eroscedasticity
    • White, H., 1980, "A Heteroscedasticity-Consistent Covariance Matrix Estimator and Direct Test for Het- eroscedasticity Econometrica 48, 817-838.
    • (1980) Econometrica , vol.48 , pp. 817-838
    • White, H.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.