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Changing conditions in the Hong Kong new issues market

  • Carey, Peter
  • Steen, Adam
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    File URL: http://www.sciencedirect.com/science/article/B6VFF-4K428K0-1/2/15522c7435b9a611519af04b4a8e836d
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    Article provided by Elsevier in its journal Pacific-Basin Finance Journal.

    Volume (Year): 14 (2006)
    Issue (Month): 5 (November)
    Pages: 484-500

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    Handle: RePEc:eee:pacfin:v:14:y:2006:i:5:p:484-500
    Contact details of provider: Web page: http://www.elsevier.com/locate/pacfin

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    1. Dark, Frederick H. & Carter, Richard B., 1993. "Effects of differential information on the after-market valuation of initial public offerings," Journal of Economics and Business, Elsevier, vol. 45(5), pages 375-392, December.
    2. Loughran, Tim & Ritter, Jay R. & Rydqvist, Kristian, 1995. "Initial public offerings: International insights," Pacific-Basin Finance Journal, Elsevier, vol. 3(1), pages 139-140, May.
    3. Campbell, Tim S & Kracaw, William A, 1980. " Information Production, Market Signalling, and the Theory of Financial Intermediation," Journal of Finance, American Finance Association, vol. 35(4), pages 863-82, September.
    4. Miller, Merton H., 1998. "The current Southeast Asia financial crisis1," Pacific-Basin Finance Journal, Elsevier, vol. 6(3-4), pages 225-233, August.
    5. James, Christopher & Wier, Peggy, 1990. "Borrowing relationships, intermediation, and the cost of issuing public securities," Journal of Financial Economics, Elsevier, vol. 28(1-2), pages 149-171.
    6. Tim Loughran & Jay R. Ritter, 2002. "Why Don't Issuers Get Upset About Leaving Money on the Table in IPOs?," Review of Financial Studies, Society for Financial Studies, vol. 15(2), pages 413-444, March.
    7. Michelle Lowry & G. William Schwert, 2002. "IPO Market Cycles: Bubbles or Sequential Learning?," Journal of Finance, American Finance Association, vol. 57(3), pages 1171-1200, 06.
    8. Richard B. Carter & Frederick H. Dark & Ajai K. Singh, 1998. "Underwriter Reputation, Initial Returns, and the Long-Run Performance of IPO Stocks," Journal of Finance, American Finance Association, vol. 53(1), pages 285-311, 02.
    9. Benveniste, Lawrence M & Ljungqvist, Alexander P. & Wilhelm Jr, William J & Yu, Xiaoyun, 2001. "Evidence of Information Spillovers in the Production of Investment Banking Services," CEPR Discussion Papers 2988, C.E.P.R. Discussion Papers.
    10. Alexander Ljungqvist & Vikram Nanda & Rajdeep Singh, 2006. "Hot Markets, Investor Sentiment, and IPO Pricing," The Journal of Business, University of Chicago Press, vol. 79(4), pages 1667-1702, July.
    11. Booth, James R. & Smith, Richard II, 1986. "Capital raising, underwriting and the certification hypothesis," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 261-281.
    12. Bruce E. Hansen, 1998. "Testing for Structural Change in Conditional Models," Boston College Working Papers in Economics 310., Boston College Department of Economics.
    13. T.Y. Cheng & Michael Firth, 2000. "An Empirical Analysis of the Bias and Rationality of Profit Forecasts Published in New Issue Prospectuses," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 27(3&4), pages 423-446.
    14. Chowdhry, Bhagwan & Goyal, Amit, 2000. "Understanding the financial crisis in Asia," Pacific-Basin Finance Journal, Elsevier, vol. 8(2), pages 135-152, May.
    15. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-38, May.
    16. Helwege, Jean & Liang, Nellie, 2004. "Initial Public Offerings in Hot and Cold Markets," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 39(03), pages 541-569, September.
    17. Banz, Rolf W., 1981. "The relationship between return and market value of common stocks," Journal of Financial Economics, Elsevier, vol. 9(1), pages 3-18, March.
    18. Rock, Kevin, 1986. "Why new issues are underpriced," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 187-212.
    19. D. E. Allen & N. J. Morkel-Kingsbury & W. Piboonthanakiat, 1999. "The long-run performance of initial public offerings in Thailand," Applied Financial Economics, Taylor & Francis Journals, vol. 9(3), pages 215-232.
    20. Allen, Franklin & Faulhaber, Gerald R., 1989. "Signalling by underpricing in the IPO market," Journal of Financial Economics, Elsevier, vol. 23(2), pages 303-323, August.
    21. Lerner, Joshua, 1994. "Venture capitalists and the decision to go public," Journal of Financial Economics, Elsevier, vol. 35(3), pages 293-316, June.
    22. Firth, Michael & Liau-Tan, Chee Keng, 1997. "Signalling models and the valuation of new issues: An examination of IPOs in Singapore," Pacific-Basin Finance Journal, Elsevier, vol. 5(5), pages 511-526, December.
    23. Maksimovic, Vojislav & Pichler, Pegaret, 2001. "Technological Innovation and Initial Public Offerings," Review of Financial Studies, Society for Financial Studies, vol. 14(2), pages 459-94.
    24. Fama, Eugene F., 1985. "What's different about banks?," Journal of Monetary Economics, Elsevier, vol. 15(1), pages 29-39, January.
    25. Loughran, Tim & Ritter, Jay R, 1995. " The New Issues Puzzle," Journal of Finance, American Finance Association, vol. 50(1), pages 23-51, March.
    26. Pomerleano, Michael, 1998. "The East Asia crisis and corporate finances : the untold micro story," Policy Research Working Paper Series 1990, The World Bank.
    27. FranÁois Derrien & Kent L. Womack, 2003. "Auctions vs. Bookbuilding and the Control of Underpricing in Hot IPO Markets," Review of Financial Studies, Society for Financial Studies, vol. 16(1), pages 31-61.
    28. Benveniste, Lawrence M. & Busaba, Walid Y. & Wilhelm, William Jr., 2002. "Information Externalities and the Role of Underwriters in Primary Equity Markets," Journal of Financial Intermediation, Elsevier, vol. 11(1), pages 61-86, January.
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