메뉴 건너뛰기




Volumn 9, Issue C, 1995, Pages 993-1016

Initial public offerings

Author keywords

[No Author keywords available]

Indexed keywords


EID: 77957763074     PISSN: 09270507     EISSN: None     Source Type: Book Series    
DOI: 10.1016/S0927-0507(05)80074-X     Document Type: Review
Times cited : (152)

References (100)
  • 1
    • 21144477200 scopus 로고
    • The aftermarket performance of initial public offerings in Latin America
    • Aggarwal, R., Leal, R., Hernandez, F., The aftermarket performance of initial public offerings in Latin America. Financ. Manage. 22 (1993), 42–53.
    • (1993) Financ. Manage. , vol.22 , pp. 42-53
    • Aggarwal, R.1    Leal, R.2    Hernandez, F.3
  • 2
    • 0002450761 scopus 로고
    • Fads in the initial public offering market?
    • Aggarwal, R., Rivoli, P., Fads in the initial public offering market?. Financ. Manage. 19 (1990), 45–57.
    • (1990) Financ. Manage. , vol.19 , pp. 45-57
    • Aggarwal, R.1    Rivoli, P.2
  • 3
    • 85005305538 scopus 로고
    • The market for “lemons”: Quality uncertainty and the market mechanism
    • Akerlof, G.A., The market for “lemons”: Quality uncertainty and the market mechanism. Q. J. Econ. 84 (1970), 488–500.
    • (1970) Q. J. Econ. , vol.84 , pp. 488-500
    • Akerlof, G.A.1
  • 4
    • 0000280110 scopus 로고
    • Do the merits matter? A study of settlements in securities classactions
    • Alexander, J.C., Do the merits matter? A study of settlements in securities classactions. Stanford Law Rev. 43 (1991), 497–597.
    • (1991) Stanford Law Rev. , vol.43 , pp. 497-597
    • Alexander, J.C.1
  • 5
    • 0000950786 scopus 로고
    • The lawsuit avoidance theory of why initial public offerings are underpriced
    • Alexander, J.C., The lawsuit avoidance theory of why initial public offerings are underpriced. UCLA Law Rev. 41 (1993), 17–71.
    • (1993) UCLA Law Rev. , vol.41 , pp. 17-71
    • Alexander, J.C.1
  • 6
    • 45349112870 scopus 로고
    • Signalling by underpricing in the IPO market
    • Allen, F., Faulhaber, G., Signalling by underpricing in the IPO market. J. Financ. Econ. 23 (1989), 303–323.
    • (1989) J. Financ. Econ. , vol.23 , pp. 303-323
    • Allen, F.1    Faulhaber, G.2
  • 7
    • 0001385346 scopus 로고
    • Underpricing of new issues and the choice of auditor as a signal of investment banker reputation
    • Balver, R.J., McDonald, B., Miller, R.E., Underpricing of new issues and the choice of auditor as a signal of investment banker reputation. Account. Rev. 63 (1988), 605–622.
    • (1988) Account. Rev. , vol.63 , pp. 605-622
    • Balver, R.J.1    McDonald, B.2    Miller, R.E.3
  • 8
    • 33845397012 scopus 로고
    • A model of the demand of investment banking advising and distribution services for new issues
    • Baron, D., A model of the demand of investment banking advising and distribution services for new issues. J. Finance 37 (1982), 955–976.
    • (1982) J. Finance , vol.37 , pp. 955-976
    • Baron, D.1
  • 9
    • 84977323214 scopus 로고
    • The investment banking contract for new issues under asymmetric information: Delegation and the incentive problem
    • Baron, D., Holmström, B., The investment banking contract for new issues under asymmetric information: Delegation and the incentive problem. J. Finance 35 (1980), 1115–1138.
    • (1980) J. Finance , vol.35 , pp. 1115-1138
    • Baron, D.1    Holmström, B.2
  • 10
    • 0011458254 scopus 로고
    • The opening price performance of initial public offerings of common stock
    • Barry, C., Jennings, R., The opening price performance of initial public offerings of common stock. Financ. Manage. 22 (1993), 54–63.
    • (1993) Financ. Manage. , vol.22 , pp. 54-63
    • Barry, C.1    Jennings, R.2
  • 11
    • 0001671710 scopus 로고
    • The role of venture capital in the creation of public companies: Evidence from the going public process
    • Barry, C., Muscarella, C., Peavy, J., Vetsuypens, M., The role of venture capital in the creation of public companies: Evidence from the going public process. J. Financ. Econ. 27 (1990), 447–471.
    • (1990) J. Financ. Econ. , vol.27 , pp. 447-471
    • Barry, C.1    Muscarella, C.2    Peavy, J.3    Vetsuypens, M.4
  • 12
    • 0001295992 scopus 로고
    • Underwriter warrants, underwriter compensation and the costs of going public
    • Barry, C., Muscarella, C., Vetsuypens, M., Underwriter warrants, underwriter compensation and the costs of going public. J. Financ. Econ. 29 (1991), 113–135.
    • (1991) J. Financ. Econ. , vol.29 , pp. 113-135
    • Barry, C.1    Muscarella, C.2    Vetsuypens, M.3
  • 13
    • 0027759482 scopus 로고
    • Auditor reputation and the pricing of initial public offerings
    • Beatty, R.P., Auditor reputation and the pricing of initial public offerings. Account. Rev. 64 (1989), 693–709.
    • (1989) Account. Rev. , vol.64 , pp. 693-709
    • Beatty, R.P.1
  • 14
    • 37149005683 scopus 로고
    • Investment banking, reputation, and the underpricing of initial public offerings
    • Beatty, R.P., Ritter, J.R., Investment banking, reputation, and the underpricing of initial public offerings. J. Financ. Econ. 15 (1986), 213–232.
    • (1986) J. Financ. Econ. , vol.15 , pp. 213-232
    • Beatty, R.P.1    Ritter, J.R.2
  • 15
    • 0039184677 scopus 로고
    • How investment bankers determine the offer price and allocation of new issues
    • Benveniste, L., Spindt, P., How investment bankers determine the offer price and allocation of new issues. J. Financ. Econ. 24 (1989), 343–361.
    • (1989) J. Financ. Econ. , vol.24 , pp. 343-361
    • Benveniste, L.1    Spindt, P.2
  • 16
    • 38049044430 scopus 로고
    • A comparative analysis of IPO proceeds under alternative regulatory environments
    • Benveniste, L., Wilhelm, W., A comparative analysis of IPO proceeds under alternative regulatory environments. J. Financ. Econ. 28 (1990), 173–207.
    • (1990) J. Financ. Econ. , vol.28 , pp. 173-207
    • Benveniste, L.1    Wilhelm, W.2
  • 17
    • 85023325312 scopus 로고
    • Ownership dispersion, costly information, and IPO underpricing
    • unpublished working paper, Arizona State
    • unpublished working paper, Arizona State Booth, J., Chua, L., Ownership dispersion, costly information, and IPO underpricing. 1995.
    • (1995)
    • Booth, J.1    Chua, L.2
  • 18
    • 0011615421 scopus 로고
    • Capital raising, underwriting and the certification hypothesis
    • Booth, J., Smith, R., Capital raising, underwriting and the certification hypothesis. J. Financ. Econ. 15 (1986), 261–281.
    • (1986) J. Financ. Econ. , vol.15 , pp. 261-281
    • Booth, J.1    Smith, R.2
  • 19
    • 0004281707 scopus 로고
    • Underpricing, ownership and control in initial public offerings of equity securities in the U.K.
    • unpublished working paper London Business School
    • unpublished working paper Brennan, M., Franks, J., Underpricing, ownership and control in initial public offerings of equity securities in the U.K. 1995, London Business School.
    • (1995)
    • Brennan, M.1    Franks, J.2
  • 20
    • 84977731975 scopus 로고
    • Initial public offerings and underwriter reputation
    • Carter, R., Manaster, S., Initial public offerings and underwriter reputation. J. Finance 45 (1990), 1045–1067.
    • (1990) J. Finance , vol.45 , pp. 1045-1067
    • Carter, R.1    Manaster, S.2
  • 21
    • 0001853491 scopus 로고
    • Initial public offerings: Daily returns, offering types and the price effect
    • Chalk, A., Peavy, J., Initial public offerings: Daily returns, offering types and the price effect. Financ. Anal. J., 1987, 65–69.
    • (1987) Financ. Anal. J. , pp. 65-69
    • Chalk, A.1    Peavy, J.2
  • 22
    • 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. J. Finance 48 (1993), 285–304.
    • (1993) J. Finance , vol.48 , pp. 285-304
    • Chemmanur, T.J.1
  • 23
    • 84993923489 scopus 로고
    • Investment banker reputation, information production, and financial intermediation
    • Chemmanur, T.J., Fulghieri, P., Investment banker reputation, information production, and financial intermediation. J. Finance 49 (1994), 57–79.
    • (1994) J. Finance , vol.49 , pp. 57-79
    • Chemmanur, T.J.1    Fulghieri, P.2
  • 24
    • 0038122635 scopus 로고
    • The price behavior of IPOs in Taiwan
    • unpublished working paper University of Illinois
    • unpublished working paper Chen, H.-L., The price behavior of IPOs in Taiwan. 1992, University of Illinois.
    • (1992)
    • Chen, H.-L.1
  • 25
    • 0040020265 scopus 로고
    • The possibility of failure and the pricing of best efforts offerings
    • Cho, S., The possibility of failure and the pricing of best efforts offerings. Q. Rev. Econ. Finance 32 (1992), 30–45.
    • (1992) Q. Rev. Econ. Finance , vol.32 , pp. 30-45
    • Cho, S.1
  • 26
    • 84978569878 scopus 로고
    • Secondary stock market performance of initial public offers, Hong Kong, Singapore, and Malaysia: 1978–1984
    • Dawson, S.M., Secondary stock market performance of initial public offers, Hong Kong, Singapore, and Malaysia: 1978–1984. J. Bus. Finance Account. 14 (1987), 65–76.
    • (1987) J. Bus. Finance Account. , vol.14 , pp. 65-76
    • Dawson, S.M.1
  • 27
    • 0010918011 scopus 로고
    • The efficiency of the British new issue market for ordinary shares
    • unpublished Ph.D. dissertation University of London
    • unpublished Ph.D. dissertation Dimson, E., The efficiency of the British new issue market for ordinary shares. 1979, University of London.
    • (1979)
    • Dimson, E.1
  • 28
    • 84977339411 scopus 로고
    • Signaling and the valuation of unseasoned new issues
    • Downes, D., Heinkel, R., Signaling and the valuation of unseasoned new issues. J. Finance 37 (1982), 1–10.
    • (1982) J. Finance , vol.37 , pp. 1-10
    • Downes, D.1    Heinkel, R.2
  • 29
    • 21144477918 scopus 로고
    • IPO underpricing: Insurance against legal liability?
    • Drake, P.D., Vetsuypens, M.R., IPO underpricing: Insurance against legal liability?. Financ. Manage. 22 (1993), 64–73.
    • (1993) Financ. Manage. , vol.22 , pp. 64-73
    • Drake, P.D.1    Vetsuypens, M.R.2
  • 30
    • 21144459167 scopus 로고
    • IPO underpricing, insider selling and subsequent equity offerings: Is underpricing a signal of quality?
    • Garfinkel, J., IPO underpricing, insider selling and subsequent equity offerings: Is underpricing a signal of quality?. Financ. Manage. 22 (1993), 74–83.
    • (1993) Financ. Manage. , vol.22 , pp. 74-83
    • Garfinkel, J.1
  • 31
    • 84977725468 scopus 로고
    • Signalling and the pricing of new issues
    • Grinblatt, M., Hwang, C.Y., Signalling and the pricing of new issues. J. Finance 44 (1989), 393–420.
    • (1989) J. Finance , vol.44 , pp. 393-420
    • Grinblatt, M.1    Hwang, C.Y.2
  • 32
    • 43949164598 scopus 로고
    • Underpricing of initial public offerings and the partial adjustment phenomenon
    • Hanley, K.W., Underpricing of initial public offerings and the partial adjustment phenomenon. J. Financ. Econ. 34 (1993), 231–250.
    • (1993) J. Financ. Econ. , vol.34 , pp. 231-250
    • Hanley, K.W.1
  • 34
    • 0002605051 scopus 로고
    • Japanese initial public offerings
    • I. Walter T. Hiraki Business One/Irwin London
    • Hebner, K.J., Hiraki, T., Japanese initial public offerings. Walter, I., Hiraki, T., (eds.) Restructuring Japan's Financial Markets, 1993, Business One/Irwin, London.
    • (1993) Restructuring Japan's Financial Markets
    • Hebner, K.J.1    Hiraki, T.2
  • 35
    • 21144471474 scopus 로고
    • Litigation risk, intermediation, and the underpricing of initial public offerings
    • Hughes, P.J., Thakor, A.V., Litigation risk, intermediation, and the underpricing of initial public offerings. Rev. Financ. Studies 5 (1992), 709–742.
    • (1992) Rev. Financ. Studies , vol.5 , pp. 709-742
    • Hughes, P.J.1    Thakor, A.V.2
  • 36
    • 0003196539 scopus 로고
    • French new issues, underpricing, and alternative methods of distribution
    • R. Guimaraes et al. (eds.) Springer-Verlag Homewood, IL
    • Husson, B., Jacquillat, B., French new issues, underpricing, and alternative methods of distribution. Guimaraes, R., et al. (eds.) A Reappraisal of the Efficiency of Financial Markets, 1989, Springer-Verlag, Homewood, IL.
    • (1989) A Reappraisal of the Efficiency of Financial Markets
    • Husson, B.1    Jacquillat, B.2
  • 37
    • 0000372473 scopus 로고
    • Price performance of common stock new issues
    • Ibbotson, R.G., Price performance of common stock new issues. J. Financ. Econ. 2 (1975), 235–272.
    • (1975) J. Financ. Econ. , vol.2 , pp. 235-272
    • Ibbotson, R.G.1
  • 38
    • 84944832660 scopus 로고
    • ‘Hot issue’ markets
    • Ibbotson, R.G., Jaffe, J.F., ‘Hot issue’ markets. J. Finance 30 (1975), 1027–1042.
    • (1975) J. Finance , vol.30 , pp. 1027-1042
    • Ibbotson, R.G.1    Jaffe, J.F.2
  • 39
    • 0001929941 scopus 로고
    • The market's problems with the pricing of initial public offerings
    • Ibbotson, R.G., Sindelar, J., Ritter, J., The market's problems with the pricing of initial public offerings. J. Appl. Corp. Finance 6 (1994), 66–74.
    • (1994) J. Appl. Corp. Finance , vol.6 , pp. 66-74
    • Ibbotson, R.G.1    Sindelar, J.2    Ritter, J.3
  • 40
    • 0038461763 scopus 로고
    • List of Malaysian IPOs
    • unpublished working paper University of Malaya Berlin
    • unpublished working paper Isa, M., List of Malaysian IPOs. 1993, University of Malaya, Berlin.
    • (1993)
    • Isa, M.1
  • 41
    • 84993850751 scopus 로고
    • The post-issue operating performance of IPO Firms
    • Jain, B.A., Kini, O., The post-issue operating performance of IPO Firms. J. Finance 49 (1994), 1699–1726.
    • (1994) J. Finance , vol.49 , pp. 1699-1726
    • Jain, B.A.1    Kini, O.2
  • 42
    • 84993660190 scopus 로고
    • Relationship specific assets and the pricing of underwriter services
    • James, C., Relationship specific assets and the pricing of underwriter services. J. Finance 47 (1992), 1865–1885.
    • (1992) J. Finance , vol.47 , pp. 1865-1885
    • James, C.1
  • 43
    • 38249017555 scopus 로고
    • Borrowing relationships, intermediation, and the costs of issuing public securities
    • James, C., Wier, P., Borrowing relationships, intermediation, and the costs of issuing public securities. J. Financ. Econ. 28 (1990), 149–171.
    • (1990) J. Financ. Econ. , vol.28 , pp. 149-171
    • James, C.1    Wier, P.2
  • 44
    • 0041620040 scopus 로고
    • An empirical investigation of IPO returns and subsequent equity offerings
    • Jegadeesh, N., Weinstein, M., Welch, I., An empirical investigation of IPO returns and subsequent equity offerings. J. Financ. Econ. 34 (1993), 153–175.
    • (1993) J. Financ. Econ. , vol.34 , pp. 153-175
    • Jegadeesh, N.1    Weinstein, M.2    Welch, I.3
  • 45
    • 44949290919 scopus 로고
    • Initial public offerings in the UK, USA, and Japan
    • Jenkinson, T., Initial public offerings in the UK, USA, and Japan. J. Jap. Int. Econ. 4 (1990), 428–449.
    • (1990) J. Jap. Int. Econ. , vol.4 , pp. 428-449
    • Jenkinson, T.1
  • 46
    • 84858154452 scopus 로고
    • Underpricing in Canadian IPOs 1971–1992 — An update
    • Jog, V.M., Srivastava, A., Underpricing in Canadian IPOs 1971–1992 — An update. FINECO, 5, 1995.
    • (1995) FINECO , vol.5
    • Jog, V.M.1    Srivastava, A.2
  • 47
    • 85023404585 scopus 로고
    • Price support and initial public offerings: Evidence from the Athens Stock Exchange
    • unpublished working paper Piraeus University
    • unpublished working paper Kazantzis, C., Levis, M., Price support and initial public offerings: Evidence from the Athens Stock Exchange. 1994, Piraeus University.
    • (1994)
    • Kazantzis, C.1    Levis, M.2
  • 48
    • 0001694154 scopus 로고
    • The winner's curse, legal liability, and the long-run price performance of initial public offerings in the Finland
    • Keloharju, M., The winner's curse, legal liability, and the long-run price performance of initial public offerings in the Finland. J. Financ. Econ. 34 (1993), 251–277.
    • (1993) J. Financ. Econ. , vol.34 , pp. 251-277
    • Keloharju, M.1
  • 49
    • 84896353750 scopus 로고
    • Motives for going public and underpricing: New findings from Korea
    • Kim, J., Krinsky, I., Lee, J., Motives for going public and underpricing: New findings from Korea. J. Banking Finance Account. 20 (1993), 195–211.
    • (1993) J. Banking Finance Account. , vol.20 , pp. 195-211
    • Kim, J.1    Krinsky, I.2    Lee, J.3
  • 50
    • 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. J. Financ. Econ. 23 (1989), 251–272.
    • (1989) J. Financ. Econ. , vol.23 , pp. 251-272
    • Koh, F.1    Walter, T.2
  • 51
    • 85023398505 scopus 로고
    • The initial listing performance of Indian IPOs
    • unpublished working paper Indian Institute of Science
    • unpublished working paper Krishnamurti, C., Kumar, P., The initial listing performance of Indian IPOs. 1994, Indian Institute of Science.
    • (1994)
    • Krishnamurti, C.1    Kumar, P.2
  • 52
    • 0001641004 scopus 로고
    • Why initial public offerings are underpriced: Evidence from Switzerland
    • Kunz, R.M., Aggarwal, R., Why initial public offerings are underpriced: Evidence from Switzerland. J. Banking Finance 18 (1994), 705–723.
    • (1994) J. Banking Finance , vol.18 , pp. 705-723
    • Kunz, R.M.1    Aggarwal, R.2
  • 53
    • 84977736029 scopus 로고
    • Investor sentiment and the closed-end fund puzzle
    • Lee, C., Shleifer, A., Thaler, R., Investor sentiment and the closed-end fund puzzle. J. Finance 46 (1991), 75–109.
    • (1991) J. Finance , vol.46 , pp. 75-109
    • Lee, C.1    Shleifer, A.2    Thaler, R.3
  • 54
    • 84909588454 scopus 로고
    • Australian IPO underpricing in the short andlong run
    • unpublished working paper University of Sydney Bangalore
    • unpublished working paper Lee, P., Taylor, S., Walter, T., Australian IPO underpricing in the short andlong run. 1994, University of Sydney, Bangalore.
    • (1994)
    • Lee, P.1    Taylor, S.2    Walter, T.3
  • 55
    • 85023313735 scopus 로고
    • Expected and realized returns of Singaporean IPOs
    • unpublished working paper University of Sydney
    • unpublished working paper Lee, P., Taylor, S., Walter, T., Expected and realized returns of Singaporean IPOs. 1994, University of Sydney.
    • (1994)
    • Lee, P.1    Taylor, S.2    Walter, T.3
  • 56
    • 0000140435 scopus 로고
    • Informational asymmetrics, financial structure and financial intermediation
    • Leland, H., Pyle, D., Informational asymmetrics, financial structure and financial intermediation. J. Finance 32 (1977), 371–387.
    • (1977) J. Finance , vol.32 , pp. 371-387
    • Leland, H.1    Pyle, D.2
  • 57
    • 0142109325 scopus 로고
    • The demise of European IPO markets: A post-issue performance study
    • unpublished working paper INSEAD
    • unpublished working paper Leleux, B.F., Muzyka, D.F., The demise of European IPO markets: A post-issue performance study. 1993, INSEAD.
    • (1993)
    • Leleux, B.F.1    Muzyka, D.F.2
  • 58
    • 0002111898 scopus 로고
    • The long-run performance of initial public offerings: The UK experience 1980–88
    • Levis, M., The long-run performance of initial public offerings: The UK experience 1980–88. Financ. Manage. 22 (1993), 28–41.
    • (1993) Financ. Manage. , vol.22 , pp. 28-41
    • Levis, M.1
  • 59
    • 85023368749 scopus 로고
    • Underpricing and long-term performance of German IPOs, 1978–92
    • unpublished working paper Nuffield College
    • unpublished working paper Ljungqvist, A.P., Underpricing and long-term performance of German IPOs, 1978–92. 1993, Nuffield College.
    • (1993)
    • Ljungqvist, A.P.1
  • 60
    • 84910306625 scopus 로고
    • On the pricing of unseasoned equity issues: 1965–69
    • Logue, D., On the pricing of unseasoned equity issues: 1965–69. J. Financ. Quant. Anal. 8 (1973), 91–103.
    • (1973) J. Financ. Quant. Anal. , vol.8 , pp. 91-103
    • Logue, D.1
  • 61
    • 38249003570 scopus 로고
    • NYSE vs NASDAQ returns: Market microstructure or the poor performance of IPOs?
    • Loughran, T., NYSE vs NASDAQ returns: Market microstructure or the poor performance of IPOs?. J. Financ. Econ. 33 (1993), 241–260.
    • (1993) J. Financ. Econ. , vol.33 , pp. 241-260
    • Loughran, T.1
  • 62
    • 84993843481 scopus 로고
    • The new issues puzzle
    • Loughran, T., Ritter, J.R., The new issues puzzle. J. Finance 50 (1995), 23–51.
    • (1995) J. Finance , vol.50 , pp. 23-51
    • Loughran, T.1    Ritter, J.R.2
  • 64
    • 0038112873 scopus 로고
    • Investment banking: An economic analysis of optimal underwriting contracts
    • Mandelker, G., Raviv, A., Investment banking: An economic analysis of optimal underwriting contracts. J. Finance 32 (1977), 683–694.
    • (1977) J. Finance , vol.32 , pp. 683-694
    • Mandelker, G.1    Raviv, A.2
  • 65
    • 0002741782 scopus 로고
    • The effect of the secondary market on the pricing of initial public offerings: Theory and evidence
    • Mauer, D., Senbet, L., The effect of the secondary market on the pricing of initial public offerings: Theory and evidence. J. Financ. Quant. Anal. 27 (1992), 55–79.
    • (1992) J. Financ. Quant. Anal. , vol.27 , pp. 55-79
    • Mauer, D.1    Senbet, L.2
  • 66
    • 84977723575 scopus 로고
    • Venture capitalist certification in initial public offerings
    • Megginson, W.L., Weiss, K.A., Venture capitalist certification in initial public offerings. J. Finance 46 (1991), 879–903.
    • (1991) J. Finance , vol.46 , pp. 879-903
    • Megginson, W.L.1    Weiss, K.A.2
  • 67
    • 0040162533 scopus 로고
    • The pricing of initial public offerings: Tests of adverse selection and signaling theories
    • Michaely, R., Shaw, W., The pricing of initial public offerings: Tests of adverse selection and signaling theories. Rev. Financ. Studies 7 (1994), 279–317.
    • (1994) Rev. Financ. Studies , vol.7 , pp. 279-317
    • Michaely, R.1    Shaw, W.2
  • 68
    • 84916929634 scopus 로고
    • Risk, uncertainty, and divergence of opinion
    • Miller, E., Risk, uncertainty, and divergence of opinion. J. Finance 32 (1977), 1151–1168.
    • (1977) J. Finance , vol.32 , pp. 1151-1168
    • Miller, E.1
  • 69
    • 0002245411 scopus 로고
    • An examination of mispricing, returns, and uncertainty for initial public offerings
    • Miller, R., Reilly, F., An examination of mispricing, returns, and uncertainty for initial public offerings. Financ. Manage. 16 (1987), 33–38.
    • (1987) Financ. Manage. , vol.16 , pp. 33-38
    • Miller, R.1    Reilly, F.2
  • 70
    • 0001514171 scopus 로고
    • A simple test of Baron's model of IPO underpricing
    • Muscarella, C., Vetsuypens, M., A simple test of Baron's model of IPO underpricing. J. Financ. Econ. 24 (1989), 125–135.
    • (1989) J. Financ. Econ. , vol.24 , pp. 125-135
    • Muscarella, C.1    Vetsuypens, M.2
  • 71
    • 84944830772 scopus 로고
    • The capital structure puzzle
    • Myers, S., The capital structure puzzle. J. Finance 39 (1984), 575–592.
    • (1984) J. Finance , vol.39 , pp. 575-592
    • Myers, S.1
  • 72
    • 0000629920 scopus 로고
    • Returns on initial public offerings of closed-end funds
    • Peavy, J.W., Returns on initial public offerings of closed-end funds. Rev. Financ. Studies 3 (1990), 695–708.
    • (1990) Rev. Financ. Studies , vol.3 , pp. 695-708
    • Peavy, J.W.1
  • 73
    • 0003956861 scopus 로고
    • The effect of market conditions on initial public offerings
    • unpublished working paper University of Chicago Oxford
    • unpublished working paper Rajan, R., Servaes, H., The effect of market conditions on initial public offerings. 1993, University of Chicago, Oxford.
    • (1993)
    • Rajan, R.1    Servaes, H.2
  • 74
    • 0001605968 scopus 로고
    • The ‘hot issue’ market of 1980
    • Ritter, J.R., The ‘hot issue’ market of 1980. J. Bus. 57 (1984), 215–240.
    • (1984) J. Bus. , vol.57 , pp. 215-240
    • Ritter, J.R.1
  • 75
    • 0001228346 scopus 로고
    • Signaling and the valuation of unseasoned new issues: A comment
    • Ritter, J.R., Signaling and the valuation of unseasoned new issues: A comment. J. Finance 39 (1984), 1231–1237.
    • (1984) J. Finance , vol.39 , pp. 1231-1237
    • Ritter, J.R.1
  • 76
    • 38249033671 scopus 로고
    • The costs of going public
    • Ritter, J.R., The costs of going public. J. Financ. Econ. 19 (1987), 269–281.
    • (1987) J. Financ. Econ. , vol.19 , pp. 269-281
    • Ritter, J.R.1
  • 77
    • 84977717063 scopus 로고
    • The long-run performance of initial public offerings
    • Ritter, J.R., The long-run performance of initial public offerings. J. Finance 46 (1991), 3–27.
    • (1991) J. Finance , vol.46 , pp. 3-27
    • Ritter, J.R.1
  • 78
    • 0000423667 scopus 로고
    • Why new issues are underpriced
    • Rock, K., Why new issues are underpriced. J. Financ. Econ. 15 (1986), 187–212.
    • (1986) J. Financ. Econ. , vol.15 , pp. 187-212
    • Rock, K.1
  • 79
    • 0001145095 scopus 로고
    • Underwriter price support and the IPO underpricing puzzle
    • Ruud, J., Underwriter price support and the IPO underpricing puzzle. J. Financ. Econ. 34 (1993), 135–151.
    • (1993) J. Financ. Econ. , vol.34 , pp. 135-151
    • Ruud, J.1
  • 80
    • 33751078151 scopus 로고
    • Initial public offerings in Sweden and other small markets
    • unpublished working paper Stockholm School of Economics
    • unpublished working paper Rydqvist, K., Initial public offerings in Sweden and other small markets. 1993, Stockholm School of Economics.
    • (1993)
    • Rydqvist, K.1
  • 81
    • 0002154354 scopus 로고
    • Aspects of financial contracting in venture capital
    • Sahlman, W., Aspects of financial contracting in venture capital. J. Appl. Corp. Finance 1 (1988), 23–36.
    • (1988) J. Appl. Corp. Finance , vol.1 , pp. 23-36
    • Sahlman, W.1
  • 82
    • 0000887602 scopus 로고
    • The structure and governance of venture capital organizations
    • Sahlman, W., The structure and governance of venture capital organizations. J. Financ. Econ. 27 (1990), 473–521.
    • (1990) J. Financ. Econ. , vol.27 , pp. 473-521
    • Sahlman, W.1
  • 83
    • 0000511080 scopus 로고
    • Unit initial public offerings: A form of staged financing
    • Schultz, P., Unit initial public offerings: A form of staged financing. J. Financ. Econ. 34 (1993), 199–229.
    • (1993) J. Financ. Econ. , vol.34 , pp. 199-229
    • Schultz, P.1
  • 84
    • 0002897976 scopus 로고
    • Speculative prices and popular models
    • Shiller, R.J., Speculative prices and popular models. J. Econ. Perspect. 4 (1990), 55–65.
    • (1990) J. Econ. Perspect. , vol.4 , pp. 55-65
    • Shiller, R.J.1
  • 85
    • 0000104843 scopus 로고
    • The effect of the 1933 securities act on investor information and the performance of new issues
    • Simon, C., The effect of the 1933 securities act on investor information and the performance of new issues. Am. Econ. Rev. 79 (1989), 295–318.
    • (1989) Am. Econ. Rev. , vol.79 , pp. 295-318
    • Simon, C.1
  • 86
    • 38249043340 scopus 로고
    • Investment banking and the capital acquisition process
    • Smith, C., Investment banking and the capital acquisition process. J. Financ. Econ. 15 (1986), 3–29.
    • (1986) J. Financ. Econ. , vol.15 , pp. 3-29
    • Smith, C.1
  • 87
    • 0000792614 scopus 로고
    • Preplay communication, participation restrictions, and efficiency in initial public offerings
    • Spatt, C., Srivastava, S., Preplay communication, participation restrictions, and efficiency in initial public offerings. Rev. Financ. Studies 4 (1991), 709–726.
    • (1991) Rev. Financ. Studies , vol.4 , pp. 709-726
    • Spatt, C.1    Srivastava, S.2
  • 88
    • 84977718972 scopus 로고
    • Anatomy of initial public offerings of common stock
    • Tinic, S., Anatomy of initial public offerings of common stock. J. Finance 43 (1988), 789–822.
    • (1988) J. Finance , vol.43 , pp. 789-822
    • Tinic, S.1
  • 89
    • 46149127849 scopus 로고
    • Information quality and the valuation of new issues
    • Titman, S., Trueman, B., Information quality and the valuation of new issues. J. Account. Econ. 8 (1986), 159–172.
    • (1986) J. Account. Econ. , vol.8 , pp. 159-172
    • Titman, S.1    Trueman, B.2
  • 91
    • 77953854748 scopus 로고
    • New Zealand IPO underpricing: A reputation based model
    • Vos, E.A., Cheung, J., New Zealand IPO underpricing: A reputation based model. Small Enterprise Res. 1 (1992), 13–22.
    • (1992) Small Enterprise Res. , vol.1 , pp. 13-22
    • Vos, E.A.1    Cheung, J.2
  • 92
    • 38249012761 scopus 로고
    • Initial public offerings of equity securities: Anomalous evidence using REITs
    • Wang, K., Chan, S.H., Gau, G.W., Initial public offerings of equity securities: Anomalous evidence using REITs. J. Financ. Econ. 31 (1992), 381–410.
    • (1992) J. Financ. Econ. , vol.31 , pp. 381-410
    • Wang, K.1    Chan, S.H.2    Gau, G.W.3
  • 93
    • 0001889189 scopus 로고
    • The post-offering price performance of closed-end funds
    • Weiss, K., The post-offering price performance of closed-end funds. Financ. Manage. 18 (1989), 57–67.
    • (1989) Financ. Manage. , vol.18 , pp. 57-67
    • Weiss, K.1
  • 94
    • 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. J. Finance 44 (1989), 421–449.
    • (1989) J. Finance , vol.44 , pp. 421-449
    • Welch, I.1
  • 95
    • 0010823612 scopus 로고
    • An empirical examination of models of contract choice in initial public offerings
    • Welch, I., An empirical examination of models of contract choice in initial public offerings. J. Financ. Quant. Anal. 26 (1991), 497–518.
    • (1991) J. Financ. Quant. Anal. , vol.26 , pp. 497-518
    • Welch, I.1
  • 96
    • 84977727359 scopus 로고
    • Sequential sales, learning, and cascades
    • Welch, I., Sequential sales, learning, and cascades. J. Finance 47 (1992), 695–732.
    • (1992) J. Finance , vol.47 , pp. 695-732
    • Welch, I.1
  • 97
    • 2542618022 scopus 로고
    • The market for IPOs: An analysis of the Amsterdam stock exchange
    • R. Guimaraes et al. (eds.) Springer-Verlag Berlin
    • Wessels, R., The market for IPOs: An analysis of the Amsterdam stock exchange. Guimaraes, R., et al. (eds.) A Reappraisal of the Efficiency of Financial Markets, 1989, Springer-Verlag, Berlin.
    • (1989) A Reappraisal of the Efficiency of Financial Markets
    • Wessels, R.1
  • 98
    • 0041295504 scopus 로고
    • Initial public offerings in Thailand, 1988–89: Price and return patterns
    • S.G. Rhee R.P. Chang North-Holland Berlin
    • Wethyavivorn, K., Koo-smith, Y., Initial public offerings in Thailand, 1988–89: Price and return patterns. Rhee, S.G., Chang, R.P., (eds.) Pacific-Basin Capital Markets Research, Vol. II, 1991, North-Holland, Berlin.
    • (1991) Pacific-Basin Capital Markets Research , vol.2
    • Wethyavivorn, K.1    Koo-smith, Y.2
  • 99
    • 85023365002 scopus 로고
    • Going Public: What the CFO Needs to Know
    • forthcoming AICPA Amsterdam
    • forthcoming Zeune, G.D., Going Public: What the CFO Needs to Know. 1994, AICPA, Amsterdam.
    • (1994)
    • Zeune, G.D.1
  • 100
    • 84882460478 scopus 로고
    • Power Japan
    • Probus Publishing
    • Ziemba, W.T., Schwartz, S.L., Power Japan. 1992, Probus Publishing.
    • (1992)
    • Ziemba, W.T.1    Schwartz, S.L.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.