메뉴 건너뛰기




Volumn 34, Issue 9, 2010, Pages 2294-2305

Information content of IPO grading

Author keywords

Certification hypothesis; Initial public offering (IPO); IPO grading; Underpricing

Indexed keywords


EID: 77954142371     PISSN: 03784266     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jbankfin.2010.02.018     Document Type: Article
Times cited : (75)

References (32)
  • 1
    • 77954142569 scopus 로고    scopus 로고
    • India IPO Market. Working Paper, World Bank Working Paper Series.
    • Aggarwal, R., 2000. India IPO Market. Working Paper, World Bank Working Paper Series.
    • (2000)
    • Aggarwal, R.1
  • 3
    • 0013068840 scopus 로고    scopus 로고
    • Illiquidity and stock returns: cross-section and time-series effects
    • Amihud Y. Illiquidity and stock returns: cross-section and time-series effects. Journal of Financial Markets 2002, 5:31-56.
    • (2002) Journal of Financial Markets , vol.5 , pp. 31-56
    • Amihud, Y.1
  • 5
    • 37149005683 scopus 로고
    • Investment banking, reputation, and the underpricing of initial public offerings
    • Beatty P.R., Ritter J.R. Investment banking, reputation, and the underpricing of initial public offerings. Journal of Financial Economics 1986, 15:213-232.
    • (1986) Journal of Financial Economics , vol.15 , pp. 213-232
    • Beatty, P.R.1    Ritter, J.R.2
  • 6
    • 0031314627 scopus 로고    scopus 로고
    • Book-building vs. fixed price: An analysis of competing strategies for marketing IPOs
    • Benveniste L.M., Busaba W.Y. Book-building vs. fixed price: An analysis of competing strategies for marketing IPOs. Journal Financial and Quantitative Analysis 1997, 32:383-403.
    • (1997) Journal Financial and Quantitative Analysis , vol.32 , pp. 383-403
    • Benveniste, L.M.1    Busaba, W.Y.2
  • 7
  • 8
    • 0031232456 scopus 로고    scopus 로고
    • Underpricing, ownership, and control in initial public offerings of equity securities in the UK
    • Brennan M.J., Franks J. Underpricing, ownership, and control in initial public offerings of equity securities in the UK. Journal of Financial Economics 1997, 45:391-413.
    • (1997) Journal of Financial Economics , vol.45 , pp. 391-413
    • Brennan, M.J.1    Franks, J.2
  • 9
    • 0037855539 scopus 로고    scopus 로고
    • Underwriter reputation, initial returns, and the long run performance of initial public offering stocks
    • Carter R., Dark R., Singh A. Underwriter reputation, initial returns, and the long run performance of initial public offering stocks. Journal of Finance 1998, 53:289-311.
    • (1998) Journal of Finance , vol.53 , pp. 289-311
    • Carter, R.1    Dark, R.2    Singh, A.3
  • 10
    • 84993921360 scopus 로고
    • The pricing of initial public offerings: a dynamic model with information production
    • Chemmanur T.J. The pricing of initial public offerings: a dynamic model with information production. Journal of Finance 1993, 48:285-304.
    • (1993) Journal of Finance , vol.48 , pp. 285-304
    • Chemmanur, T.J.1
  • 11
    • 84993923489 scopus 로고
    • Investment banker reputation, information production and financial intermediation
    • Chemmanur T.J., Fulghieri P. Investment banker reputation, information production and financial intermediation. Journal of Finance 1994, 49:57-79.
    • (1994) Journal of Finance , vol.49 , pp. 57-79
    • Chemmanur, T.J.1    Fulghieri, P.2
  • 12
    • 16844384881 scopus 로고    scopus 로고
    • Management quality, certification, and initial public offerings
    • Chemmanur T.J., Paeglis I. Management quality, certification, and initial public offerings. Journal of Financial Economics 2005, 76:331-368.
    • (2005) Journal of Financial Economics , vol.76 , pp. 331-368
    • Chemmanur, T.J.1    Paeglis, I.2
  • 13
    • 0040488624 scopus 로고    scopus 로고
    • Visibility versus complexity in business groups: evidence from Japanese keiretsu
    • Dewenter K., Novaes W., Pettway R.H. Visibility versus complexity in business groups: evidence from Japanese keiretsu. Journal of Business 2001, 74:79-100.
    • (2001) Journal of Business , vol.74 , pp. 79-100
    • Dewenter, K.1    Novaes, W.2    Pettway, R.H.3
  • 14
    • 77953534434 scopus 로고    scopus 로고
    • Underpricing of IPOs: Firm-, issue- and country-specific characteristics
    • Engelen P.-J., Essen M.V. Underpricing of IPOs: Firm-, issue- and country-specific characteristics. Journal of Banking and Finance 2010, 34:1958-1969.
    • (2010) Journal of Banking and Finance , vol.34 , pp. 1958-1969
    • Engelen, P.-J.1    Essen, M.V.2
  • 15
    • 84977725468 scopus 로고
    • Signaling and the pricing of new issues
    • Grinblatt R., Hwang C. Signaling and the pricing of new issues. Journal of Finance 1989, 45:393-420.
    • (1989) Journal of Finance , vol.45 , pp. 393-420
    • Grinblatt, R.1    Hwang, C.2
  • 16
    • 0000859784 scopus 로고    scopus 로고
    • Is group membership profitable in emerging markets? An analysis of diversified Indian business groups
    • Khanna T., Palepu K. Is group membership profitable in emerging markets? An analysis of diversified Indian business groups. Journal of Finance 2000, 55:867-891.
    • (2000) Journal of Finance , vol.55 , pp. 867-891
    • Khanna, T.1    Palepu, K.2
  • 17
    • 0001882337 scopus 로고
    • A direct test of Rock's model of the pricing of unseasoned issues
    • Koh F., Walter T. A direct test of Rock's model of the pricing of unseasoned issues. Journal of Financial Economics 1989, 23:251-272.
    • (1989) Journal of Financial Economics , vol.23 , pp. 251-272
    • Koh, F.1    Walter, T.2
  • 18
    • 3242758176 scopus 로고    scopus 로고
    • Grandstanding, certification and the underpricing of venture capital backed IPOs
    • Lee P.M., Wahal S. Grandstanding, certification and the underpricing of venture capital backed IPOs. Journal of Financial Economics 2004, 73:375-407.
    • (2004) Journal of Financial Economics , vol.73 , pp. 375-407
    • Lee, P.M.1    Wahal, S.2
  • 20
    • 77954144784 scopus 로고    scopus 로고
    • Has introduction of book-building increased the efficiency of international IPOs. Working Paper, Stern School of Business, New York University.
    • Ljungqvist, A.P., Jenkinson, T., Wilhelm, W.J., 2000. Has introduction of book-building increased the efficiency of international IPOs. Working Paper, Stern School of Business, New York University.
    • (2000)
    • Ljungqvist, A.P.1    Jenkinson, T.2    Wilhelm, W.J.3
  • 21
    • 0036108222 scopus 로고    scopus 로고
    • Why do not issuers get upset about leaving money on the table in IPOs?
    • Loughran T., Ritter J. Why do not issuers get upset about leaving money on the table in IPOs?. Review of Financial Studies 2002, 15:413-444.
    • (2002) Review of Financial Studies , vol.15 , pp. 413-444
    • Loughran, T.1    Ritter, J.2
  • 22
    • 70549090024 scopus 로고    scopus 로고
    • Group affiliation and the performance of initial public offerings in the Indian stock market
    • Marisetty V., Subrahmanyam M. Group affiliation and the performance of initial public offerings in the Indian stock market. Journal of Financial Markets 2010, 13:196-223.
    • (2010) Journal of Financial Markets , vol.13 , pp. 196-223
    • Marisetty, V.1    Subrahmanyam, M.2
  • 23
    • 84993924798 scopus 로고
    • Issue size and underpricing in thrift-mutual-to-stock conversions
    • Maksimovic V., Unal H. Issue size and underpricing in thrift-mutual-to-stock conversions. Journal of Finance 1993, 48:1659-1692.
    • (1993) Journal of Finance , vol.48 , pp. 1659-1692
    • Maksimovic, V.1    Unal, H.2
  • 24
    • 56549114785 scopus 로고    scopus 로고
    • An analysis of the liquidity benefit provided by the secondary markets
    • Mantecon T., Poon P. An analysis of the liquidity benefit provided by the secondary markets. Journal of Banking and Finance 2009, 33:335-346.
    • (2009) Journal of Banking and Finance , vol.33 , pp. 335-346
    • Mantecon, T.1    Poon, P.2
  • 25
    • 84977723575 scopus 로고
    • Venture capitalist certification in IPOs
    • Megginson W., Weiss K. Venture capitalist certification in IPOs. Journal of Finance 1991, 46:879-903.
    • (1991) Journal of Finance , vol.46 , pp. 879-903
    • Megginson, W.1    Weiss, K.2
  • 26
    • 0002860329 scopus 로고    scopus 로고
    • Analyst following of initial public offerings
    • Rajan R., Servaes H. Analyst following of initial public offerings. Journal of Finance 1997, 52:507-529.
    • (1997) Journal of Finance , vol.52 , pp. 507-529
    • Rajan, R.1    Servaes, H.2
  • 28
    • 84977717063 scopus 로고
    • The long run performance of initial public offerings
    • Ritter J.R. The long run performance of initial public offerings. Journal of Finance 1991, 46:3-27.
    • (1991) Journal of Finance , vol.46 , pp. 3-27
    • Ritter, J.R.1
  • 29
    • 77954143093 scopus 로고    scopus 로고
    • Policy issues in the Indian securities market. Working Paper No. 106, Stanford University.
    • Shah, A., Thomas, S., 2001. Policy issues in the Indian securities market. Working Paper No. 106, Stanford University.
    • (2001)
    • Shah, A.1    Thomas, S.2
  • 30
    • 0034413281 scopus 로고    scopus 로고
    • IPOs and long-term relationships - an advantage of book building
    • Sherman A.E. IPOs and long-term relationships - an advantage of book building. Review of Financial Studies 2000, 13:697-714.
    • (2000) Review of Financial Studies , vol.13 , pp. 697-714
    • Sherman, A.E.1
  • 32
    • 84977703615 scopus 로고
    • Seasoned offerings, imitation costs, and the underpricing of initial public offerings
    • Welch I. Seasoned offerings, imitation costs, and the underpricing of initial public offerings. Journal of Finance 1989, 44:421-449.
    • (1989) Journal of Finance , vol.44 , pp. 421-449
    • Welch, I.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.