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Control as a motivation for underpricing: a comparison of dual and single-class IPOs

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  • Smart, Scott B.
  • Zutter, Chad J.

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  • Smart, Scott B. & Zutter, Chad J., 2003. "Control as a motivation for underpricing: a comparison of dual and single-class IPOs," Journal of Financial Economics, Elsevier, vol. 69(1), pages 85-110, July.
    • Handle: RePEc:eee:jfinec:v:69:y:2003:i:1:p:85-110
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    Cited by:

    1. Forssbæck , Jens & Oxelheim, Lars, 2008. "Financial Determinants of Foreign Direct Investment," Working Paper Series 741, Research Institute of Industrial Economics.
    2. Roosenboom, Peter & van der Goot, Tjalling, 2005. "The effect of ownership and control on market valuation: Evidence from initial public offerings in The Netherlands," International Review of Financial Analysis, Elsevier, vol. 14(1), pages 43-59.
    3. Chemmanur, Thomas J. & Jiao, Yawen, 2012. "Dual class IPOs: A theoretical analysis," Journal of Banking & Finance, Elsevier, vol. 36(1), pages 305-319.
    4. Michel, Allen & Oded, Jacob & Shaked, Israel, 2014. "Ownership structure and performance: Evidence from the public float in IPOs," Journal of Banking & Finance, Elsevier, vol. 40(C), pages 54-61.
    5. Odegaard, Bernt Arne, 2007. "Price differences between equity classes. Corporate control, foreign ownership or liquidity?," Journal of Banking & Finance, Elsevier, vol. 31(12), pages 3621-3645, December.
    6. Grammenos, Costas Th. & Papapostolou, Nikos C., 2012. "US shipping initial public offerings: Do prospectus and market information matter?," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 48(1), pages 276-295.
    7. Forssbæck, Jens & Oxelheim, Lars, 2011. "Corporate financial determinants of foreign direct investment," The Quarterly Review of Economics and Finance, Elsevier, vol. 51(3), pages 269-282, June.
    8. Thomas J. Chemmanur & Imants Paeglis & Karen Simonyan, 2011. "Management Quality and Antitakeover Provisions," Journal of Law and Economics, University of Chicago Press, vol. 54(3), pages 651-692.
    9. Carow, Kenneth A. & Cox, Steven R. & Roden, Dianne M., 2009. "Demutualization: Determinants and consequences of the mutual holding company choice," Journal of Banking & Finance, Elsevier, vol. 33(8), pages 1454-1463, August.
    10. Hearn, Bruce, 2014. "The impact of institutions, ownership structure, business angels, venture capital and lead managers on IPO firm underpricing across North Africa," Journal of Multinational Financial Management, Elsevier, vol. 24(C), pages 19-42.
    11. Roosenboom, Peter & Schramade, Willem, 2006. "The price of power: Valuing the controlling position of owner-managers in French IPO firms," Journal of Corporate Finance, Elsevier, vol. 12(2), pages 270-295, January.
    12. Boulton, Thomas J., 2010. "Venture capital and the incorporation decisions of IPO firms," Journal of Economics and Business, Elsevier, vol. 62(6), pages 477-501, November.
    13. Peter Roosenboom & Tjalling Van Der Goot, 2003. "Takeover Defences and IPO Firm Value in the Netherlands," European Financial Management, European Financial Management Association, vol. 9(4), pages 485-511, December.
    14. Jay C. Hartzell & Jarl G. Kallberg & Crocker H. Liu, 2008. "The Role of Corporate Governance in Initial Public Offerings: Evidence from Real Estate Investment Trusts," Journal of Law and Economics, University of Chicago Press, vol. 51(3), pages 539-562, August.
    15. Abdullah & Jia’nan Zhou & Muhammad Hashim Shah, 2017. "Effect of Disproportional Voting Rights on Firm’s Market Performance: Evidence from Chinese Firms Cross-Listed on U.S. Exchanges," IJFS, MDPI, vol. 5(3), pages 1-11, September.
    16. Autore, Don M. & Boulton, Thomas J. & Smart, Scott B. & Zutter, Chad J., 2014. "The impact of institutional quality on initial public offerings," Journal of Economics and Business, Elsevier, vol. 73(C), pages 65-96.
    17. Helwege, Jean & Packer, Frank, 2009. "Private matters," Journal of Financial Intermediation, Elsevier, vol. 18(3), pages 362-383, July.
    18. Pajuste, Anete, 2005. "Determinants and consequences of the unification of dual-class shares," Working Paper Series 465, European Central Bank.
    19. Forssbaeck, Jens & Oxelheim, Lars, 2008. "Finance-specific Factors as Drivers of Cross-border Investment – An OLI Perspective," Working Paper Series 767, Research Institute of Industrial Economics.
    20. Forssbæck, Jens & Oxelheim, Lars, 2008. "Finance-specific factors as drivers of cross-border investment--An empirical investigation," International Business Review, Elsevier, vol. 17(6), pages 630-641, December.
    21. William R. Sodjahin & Marie-Claude Beaulieu, 2013. "The impact of firm-specific information during the registration period on initial public offering pricing," Applied Financial Economics, Taylor & Francis Journals, vol. 23(13), pages 1083-1096, July.
    22. Ljungqvist, Alexander, 2003. "Conflicts of Interest and Efficient Contracting in IPOs," CEPR Discussion Papers 4163, C.E.P.R. Discussion Papers.
    23. Otsubo, Minoru, 2013. "Value creation from financing in equity carve-outs: Evidence from Japan," Journal of Economics and Business, Elsevier, vol. 68(C), pages 52-69.

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