Merger-Motivated IPOs

Financial Management

Volumn 39, Issue 4, 2010, Pages 1547-1573

  Hovakimian, Armen ^a   Hutton, Irena ^b  

^a CITY UNIVERSITY OF NEW YORK   (United States)

^b FLORIDA STATE UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 78650054316     PISSN: 00463892     EISSN: 1755053X     Source Type: Journal    
DOI: 10.1111/j.1755-053X.2010.01122.x     Document Type: Article

References (34)

1. Almeida, H. and M. Campello, 2007, "Financial Constraints, Asset Tangibility, and Corporate Investment, " Review of Financial Studies 20, 1429-1460.
2. Alti, A., 2005, "IPO Market Timing, " Review of Financial Studies 18, 1105-1138.
3. Ang, J. and Y. Cheng, 2006, "Direct Evidence on the Market-Driven Acquisition Theory, " Journal of Financial Research 29, 199-216.
4. Becker-Blease, J. and D. Paul, 2006, "Stock Liquidity and Investment Opportunities: Evidence from Index Additions, " Financial Management 35, 35-51.
5. Boulton, T., S. Smart, and C. Zutter, 2006, "IPO Underpricing and the Market for Corporate Control, " Miami University (Ohio) Working Paper.
6. Brau, J. and S. Fawcett, 2006, "Initial Public Offerings: An Analysis of Theory and Practice, " Journal of Finance 61, 399-436.
7. Brau, J., B. Francis, and N. Kohers, 2003, "The Choice of IPO versus Takeover: Empirical Evidence, " Journal of Business 76, 583-612.
8. Celikyurt, U., M. Sevilir, and A. Shivdasani, 2010, "Going Public to Acquire? The Acquisition Motive for IPOs, " Journal of Financial Economics 96, 345-363.
9. Choe, H., R. Masulis, and V. Nanda, 1993, "Common Stock Offerings Across the Business Cycle: Theory and Evidence, " Journal of Empirical Finance 1, 3-31.
10. Hansen, R., 1987, "A Theory for the Choice of Exchange Medium in Mergers and Acquisitions, " Journal of Business 60, 75-95.
11. Harford, J., 2005, "What Drives Merger Waves Journal of Financial Economics 77, 529-560.
12. Hovakimian, A. and I. Hutton, 2010, "Market Feedback and Equity Issuance: Evidence from Repeat Equity Issues, " Journal of Financial and Quantitative Analysis, 43, 739-762.
13. Hovakimian, A., A. Kayhan, and S. Titman, 2009, "Credit Rating Targets, " Baruch College Working Paper.
14. Hsieh, J., E. Lyandres, and A. Zhdanov, 2008, "A Theory of Merger-Driven IPOs, " George Mason University Working Paper.
15. Jegadeesh, N., M. Weinstein, and I. Welch, 1993, "An Empirical Investigation of IPO Returns and Subsequent Equity Offerings, " Journal of Financial Economics 34, 153-175.
16. Kohers, N. and T. Kohers, 2001, "Takeovers of Technology Firms, " Financial Management 30, 35-54.
17. Lerner, J., 1994, "Venture Capitalists and the Decision to Go Public, " Journal of Financial Economics 35, 293-316.
18. Loughran, T. and J. Ritter, 2004, "Why Has Underpricing Changed Over Time Financial Management 33, 5-37.
19. Lowry, M., 2002, "Why Does IPO Volume Fluctuate Journal of Financial Economics 67, 3-40.
20. Lucas, D. and R. McDonald, 1990, "Equity Issues and Stock Price Dynamics, " Journal of Finance 45, 1019-1043.
21. Megginson, W. and K. Weiss, 1991, "Venture Capitalist Certification in Initial Public Offerings, " Journal of Finance 46, 879-903.
22. Mello, A. and J. Parsons, 1998, "Going Public and the Ownership Structure of the Firm, " Journal of Financial Economics 39, 79-109.
23. Officer, M., 2007, "The Price of Corporate Liquidity: Acquisition Discounts for Unlisted Targets, " Journal of Financial Economics 83, 571-598.
24. Pagano, M., F. Panetta, and L. Zingales, 1998, "Why Do Companies Go Public? An Empirical Analysis, " Journal of Finance 53, 27-64.
25. Poulsen, A. and M. Stegemoller, 2008, "Moving from Private to Public Ownership: Selling Out to Public Firms vs. Initial Public Offerings, " Financial Management 37, 81-101.
26. Rhodes-Kropf, M., D. Robinson, and S. Viswanathan, 2005, "Valuation Waves and Merger Activity: The Empirical Evidence, " Journal of Financial Economics 77, 561-603.
27. Rhodes-Kropf, M. and S. Viswanathan, 2004, "Market Valuation and Merger Waves, " Journal of Finance 59, 2685-2718.
28. Ritter, J. and I. Welch, 2002, "A Review of IPO Activity, Pricing, and Allocations, " Journal of Finance 57, 1795-1828.
29. Rosen, R., S. Smart, and C. Zutter, 2005, "Why Do Firms Go Public? Evidence from the Banking Industry, " Indiana University Working Paper.
30. Schultz, P. and M. Zaman, 2001, "Do the Individuals Closest to Internet Firms Believe They Are Overvalued Journal of Financial Economics 59, 347-381.
31. Shleifer, A. and R. Vishny, 2003, "Stock Market Driven Acquisitions, " Journal of Financial Economics 70, 295-311.
32. Subrahmanyam, A. and S. Titman, 2001, "Feedback from Stock Prices to Cash Flows, " Journal of Finance 56, 2389-2413.
33. Tolmunen, P. and S. Torstila, 2005, "Cross-Listings and M&A Activity: Transatlantic Evidence, " Financial Management 34, 123-142.
34. Zingales, L., 1995, "Inside Ownership and the Decision to Go Public, " Review of Economic Studies 62, 425-448.