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Michelle Lowry

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Working papers

  1. Michelle Lowry & Micah S. Officer & G. William Schwert, 2006. "The Variability of IPO Initial Returns," NBER Working Papers 12295, National Bureau of Economic Research, Inc.

    Cited by:

    1. Fred E. Huibers, 2020. "Towards an Optimal IPO Mechanism," Journal of Risk and Financial Management, MDPI, Open Access Journal, vol. 13(6), pages 1-14, June.
    2. Akyol, Ali C. & Cooper, Tommy & Meoli, Michele & Vismara, Silvio, 2014. "Do regulatory changes affect the underpricing of European IPOs?," Journal of Banking & Finance, Elsevier, vol. 45(C), pages 43-58.
    3. Brière, Marie & Szafarz, Ariane, 2015. "Does Commercial Microfinance Belong to the Financial Sector? Lessons from the Stock Market," World Development, Elsevier, vol. 67(C), pages 110-125.
    4. Neupane, Suman & Marshall, Andrew & Paudyal, Krishna & Thapa, Chandra, 2017. "Do investors flip less in bookbuilding than in auction IPOs?," Journal of Corporate Finance, Elsevier, vol. 47(C), pages 253-268.
    5. Agathee, Ushad Subadar & Sannassee, Raja Vinesh & Brooks, Chris, 2012. "The underpricing of IPOs on the Stock Exchange of Mauritius," Research in International Business and Finance, Elsevier, vol. 26(2), pages 281-303.
    6. Chatterjee, Sris & Chidambaran, N.K. & Goswami, Gautam, 2016. "Security design for a non-standard IPO: The case of SPACs," Journal of International Money and Finance, Elsevier, vol. 69(C), pages 151-178.
    7. Jones, Steven L. & Yeoman, John C., 2014. "Initial uncertainty and the risk of setting a fixed-offer price: Implications for the pricing of bookbuilt and best-efforts IPOs," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 194-215.
    8. Aissia, Dorsaf Ben, 2014. "IPO first-day returns: Skewness preference, investor sentiment and uncertainty underlying factors," Review of Financial Economics, Elsevier, vol. 23(3), pages 148-154.
    9. François DEGEORGE & François DERRIEN & Kent L. WOMACK, 2008. "Auctioned IPOs: The U.S. Evidence," Swiss Finance Institute Research Paper Series 08-38, Swiss Finance Institute.
    10. Qi Deng & Zhong-guo Zhou, 2016. "The pricing of first day opening price returns for ChiNext IPOs," Review of Quantitative Finance and Accounting, Springer, vol. 47(2), pages 249-271, August.
    11. Robert M. Hull & Sungkyu Kwak & Rosemary Walker, 2018. "Hedge fund attributes, insider behavior, and IPO volatility," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 42(2), pages 268-292, April.
    12. Alok R. Saboo & Rajdeep Grewal, 2013. "Stock Market Reactions to Customer and Competitor Orientations: The Case of Initial Public Offerings," Marketing Science, INFORMS, vol. 32(1), pages 70-88, October.
    13. Bakke, Einar & Leite, Tore E. & Thorburn, Karin S., 2010. "Public information and IPO underpricing," Discussion Papers 2010/6, Norwegian School of Economics, Department of Business and Management Science.
    14. Zhang, Feng, 2012. "Information precision and IPO pricing," Journal of Corporate Finance, Elsevier, vol. 18(2), pages 331-348.
    15. Bakke, Einar & Leite, Tore E. & Thorburn, Karin S., 2017. "Partial adjustment to public information in the pricing of IPOs," Journal of Financial Intermediation, Elsevier, vol. 32(C), pages 60-75.
    16. Chen Su, 2018. "The efficiency of IPO issuing mechanisms and market conditions: evidence in China," Review of Quantitative Finance and Accounting, Springer, vol. 51(2), pages 461-495, August.
    17. Michael O'Connor Keefe & David Gallagher, 2014. "Does the effect of revealed private information on initial public offering (IPO) first trading day return differ by IPO market heat?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 54(3), pages 921-964, September.
    18. Yung, Chris & Çolak, Gönül & Wei Wang, 2008. "Cycles in the IPO market," Journal of Financial Economics, Elsevier, vol. 89(1), pages 192-208, July.
    19. 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.
    20. Eliana Angelini & Matteo Foglia, 2018. "The Relationship Between IPO and Macroeconomics Factors: an Empirical Analysis from UK Market," Annals of Economics and Finance, Society for AEF, vol. 19(1), pages 319-336, May.
    21. Cooney, John W. & Madureira, Leonardo & Singh, Ajai K. & Yang, Ke, 2015. "Social ties and IPO outcomes," Journal of Corporate Finance, Elsevier, vol. 33(C), pages 129-146.
    22. Gullapalli, Rachita & Knyazeva, Anzhela, 2020. "Foreign issuers in emerging growth company IPOs," Journal of Multinational Financial Management, Elsevier, vol. 54(C).
    23. McGuinness, Paul B., 2014. "IPO firm value and its connection with cornerstone and wider signalling effects," Pacific-Basin Finance Journal, Elsevier, vol. 27(C), pages 138-162.
    24. Marie-Claude Beaulieu & Habiba Mrissa Bouden, 2020. "Does idiosyncratic risk matter in IPO long-run performance?," Review of Quantitative Finance and Accounting, Springer, vol. 55(3), pages 935-981, October.
    25. Nikolova, Stanislava & Wang, Liying & Wu, Juan (Julie), 2020. "Institutional allocations in the primary market for corporate bonds," Journal of Financial Economics, Elsevier, vol. 137(2), pages 470-490.
    26. Reddy, K. Srinivasa, 2011. "The aftermarket pricing performance of initial public offers: Insights from India," MPRA Paper 62885, University Library of Munich, Germany, revised 2013.
    27. Chen, Yibiao & Wang, Steven Shuye & Li, Wei & Sun, Qian & Tong, Wilson H.S., 2015. "Institutional environment, firm ownership, and IPO first-day returns: Evidence from China," Journal of Corporate Finance, Elsevier, vol. 32(C), pages 150-168.
    28. Dorsaf Ben Aissia & Narjess Skhiri Hellara, 2019. "Systematic risk, the tradeoff of leverage and IPO first-day returns," Review of Quantitative Finance and Accounting, Springer, vol. 53(1), pages 239-256, July.
    29. Eom, Chanyoung, 2018. "Institutional bidding behaviors during IPO bookbuilding: Evidence from Korea," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 413-427.
    30. Hammer, Benjamin & Knauer, Alexander & Pflücke, Magnus & Schwetzler, Bernhard, 2017. "Inorganic growth strategies and the evolution of the private equity business model," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 31-63.
    31. Alok R. Saboo & Anindita Chakravarty & Rajdeep Grewal, 2016. "Organizational Debut on the Public Stage: Marketing Myopia and Initial Public Offerings," Marketing Science, INFORMS, vol. 35(4), pages 656-675, July.
    32. Kanis Saengchote & Chittisa Charoenpanich, 2020. "Cash flow uncertainty and IPO underpricing: Evidence from Thai REITs," PIER Discussion Papers 138, Puey Ungphakorn Institute for Economic Research, revised May 2020.
    33. Martijn J. Assem & Nico L. Sar & Philippe Versijp, 2017. "CEOs and CFOs on IPOs: The Process and Success of Going Public," De Economist, Springer, vol. 165(4), pages 381-410, December.
    34. Klova, Valeriia, 2017. "IPO underpricing: What about the shipping sector?," Journal of Multinational Financial Management, Elsevier, vol. 42, pages 95-115.
    35. Salim Chahine & Samer Saade & Marc Goergen, 2019. "Foreign Business Activities, Foreignness of the VC Syndicate, and IPO Value," Entrepreneurship Theory and Practice, , vol. 43(5), pages 947-973, September.
    36. Deng, Qi & Zhou, Zhong-guo, 2016. "Overreaction in ChiNext IPOs' initial returns: How much and what caused it?," Emerging Markets Review, Elsevier, vol. 29(C), pages 82-103.
    37. Li, Yi & Shen, Dehua & Wang, Pengfei & Zhang, Wei, 2019. "Do analyst recommendations matter for rival companies?," International Review of Financial Analysis, Elsevier, vol. 65(C).
    38. Cecilia Caglio & Kathleen Weiss Hanley & Jennifer Marietta-Westberg, 2016. "What Does It Take to List Abroad? The Role of Global Underwriters," Finance and Economics Discussion Series 2016-041, Board of Governors of the Federal Reserve System (U.S.).
    39. Chua, Ansley, 2014. "Market conditions, underwriter reputation and first day return of IPOs," Journal of Financial Markets, Elsevier, vol. 19(C), pages 131-153.
    40. Butler, Alexander W. & Keefe, Michael O'Connor & Kieschnick, Robert, 2014. "Robust determinants of IPO underpricing and their implications for IPO research," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 367-383.
    41. Gao, Shenghao & Meng, Qingbin & Chan, Jesse Y. & Chan, Kam C., 2018. "Cognitive reference points, institutional investors' bid prices, and IPO pricing: Evidence from IPO auctions in China," Journal of Financial Markets, Elsevier, vol. 38(C), pages 124-140.
    42. Christian Masiak & Joern H. Block & Tobias Masiak & Matthias Neuenkirch & Katja N. Pielen, 2018. "The Market Cycles of ICOs, Bitcoin, and Ether," Research Papers in Economics 2018-04, University of Trier, Department of Economics.
    43. Yibiao Chen & Steven S. Wang & Wilson H. S. Tong & Hui Zhu, 2017. "Economic freedom and IPO underpricing," Frontiers of Business Research in China, Springer, vol. 11(1), pages 1-22, December.
    44. Muhammad Zubair Mumtaz & Zachary A. Smith & Ather Maqsood Ahmed, 2016. "An examination of short-run performance of IPOs using Extreme Bounds Analysis," Estudios de Economia, University of Chile, Department of Economics, vol. 43(1 Year 20), pages 71-95, June.
    45. James D. Campbell, 2019. "Investment in ideas when genius and madness look alike," Economics Bulletin, AccessEcon, vol. 39(2), pages 947-953.
    46. Ni, Yensen & Huang, Paoyu, 2015. "Do IPOs matter for price limits? Evidence from Taiwan," The Quarterly Review of Economics and Finance, Elsevier, vol. 58(C), pages 74-83.
    47. Boehme, Rodney & Çolak, Gönül, 2012. "Primary market characteristics and secondary market frictions of stocks," Journal of Financial Markets, Elsevier, vol. 15(2), pages 286-327.
    48. Crain, Nicholas G., 2018. "Venture capital and career concerns," Journal of Corporate Finance, Elsevier, vol. 49(C), pages 168-185.
    49. Vithanage, Kulunu & Neupane, Suman & Chung, Richard, 2016. "Multiple lead underwriting syndicate and IPO pricing," International Review of Financial Analysis, Elsevier, vol. 48(C), pages 193-208.
    50. Wang, Luxia & Chong, Terence Tai Leung & He, Yiyao & Liu, Yuchen, 2018. "The Underpricing of Venture Capital Backed IPOs in China," MPRA Paper 92079, University Library of Munich, Germany.
    51. Aissia, Dorsaf Ben, 2016. "Home and foreign investor sentiment and the stock returns," The Quarterly Review of Economics and Finance, Elsevier, vol. 59(C), pages 71-77.
    52. Liu, Jia & Lister, Roger & Pang, Dong, 2013. "Corporate evolution following initial public offerings in China: A life-course approach," International Review of Financial Analysis, Elsevier, vol. 27(C), pages 1-20.
    53. Espenlaub, Susanne & Goyal, Abhinav & Mohamed, Abdulkadir, 2016. "Impact of legal institutions on IPO survival: A global perspective," Journal of Financial Stability, Elsevier, vol. 25(C), pages 98-112.
    54. Guldiken, Orhun & Tupper, Christina & Nair, Anil & Yu, Huizhi, 2017. "The impact of media coverage on IPO stock performance," Journal of Business Research, Elsevier, vol. 72(C), pages 24-32.
    55. Baschieri, Giulia & Carosi, Andrea & Mengoli, Stefano, 2015. "Local IPOs, local delistings, and the firm location premium," Journal of Banking & Finance, Elsevier, vol. 53(C), pages 67-83.
    56. Caglio, Cecilia & Hanley, Kathleen Weiss & Marietta-Westberg, Jennifer, 2016. "Going public abroad," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 103-122.
    57. Elitsa R. Banalieva & Kimberly A. Eddleston & Thomas M. Zellweger, 2015. "When do family firms have an advantage in transitioning economies? Toward a dynamic institution-based view," Strategic Management Journal, Wiley Blackwell, vol. 36(9), pages 1358-1377, September.
    58. T. Clifton Green & Byoung-Hyoun Hwang, 2012. "Initial Public Offerings as Lotteries: Skewness Preference and First-Day Returns," Management Science, INFORMS, vol. 58(2), pages 432-444, February.
    59. Gao, Shenghao & Cao, Feng & Fok, Robert (Chi-Wing), 2019. "The anchoring effect of underwriters' proposed price ranges on institutional investors' bid prices in IPO auctions: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 63(C), pages 111-127.
    60. Harris, Oneil, 2018. "The impact of industrial districts on the pricing of IPOs," The Quarterly Review of Economics and Finance, Elsevier, vol. 69(C), pages 274-285.
    61. Karpoff, Jonathan M. & Lee, Gemma & Masulis, Ronald W., 2013. "Contracting under asymmetric information: Evidence from lockup agreements in seasoned equity offerings," Journal of Financial Economics, Elsevier, vol. 110(3), pages 607-626.
    62. Monica Hussein & Zhong-guo Zhou & Qi Deng, 2020. "Does risk disclosure in prospectus matter in ChiNext IPOs’ initial underpricing?," Review of Quantitative Finance and Accounting, Springer, vol. 54(3), pages 957-979, April.
    63. Rama Seth & S. R. Vishwanatha & Durga Prasad, 2019. "Allocation to Anchor Investors, Underpricing, and the After‐Market Performance of IPOs," Financial Management, Financial Management Association International, vol. 48(1), pages 159-186, March.
    64. Boeh, Kevin K. & Dunbar, Craig, 2016. "Underwriter deal pipeline and the pricing of IPOs," Journal of Financial Economics, Elsevier, vol. 120(2), pages 383-399.
    65. Çolak, Gönül & Günay, Hikmet, 2011. "Strategic waiting in the IPO markets," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 555-583, June.
    66. Hon-Wei Leow & Wee-Yeap Lau, 2018. "The Impact of Global Financial Crisis on IPO Underpricing in Malaysian Stock Market," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 21(04), pages 1-17, December.
    67. Cecilia Caglio & Kathleen Weiss Hanley & Jennifer Marietta-Westberg, 2013. "Going public abroad," Finance and Economics Discussion Series 2013-68, Board of Governors of the Federal Reserve System (U.S.), revised 2013.
    68. Jagannathan, Ravi & Jirnyi, Andrei & Sherman, Ann Guenther, 2015. "Share auctions of initial public offerings: Global evidence," Journal of Financial Intermediation, Elsevier, vol. 24(3), pages 283-311.
    69. Yao-Min Chiang & Michelle Lowry & Yiming Qian, 2019. "The Information Advantage of Underwriters in IPOs," Management Science, INFORMS, vol. 65(12), pages 5721-5740, December.
    70. Bergbrant, Mikael C. & Bradley, Daniel & Hunter, Delroy M., 2017. "Does bank loan supply affect the supply of equity capital? Evidence from new share issuance and withdrawal," Journal of Financial Intermediation, Elsevier, vol. 29(C), pages 32-45.
    71. Güçbilmez, Ufuk, 2014. "Why do some Chinese technology firms avoid ChiNext and go public in the US?," International Review of Financial Analysis, Elsevier, vol. 36(C), pages 179-194.

  2. Michelle Lowry & G. William Schwert, 2001. "Biases in the IPO Pricing Process," NBER Working Papers 8586, National Bureau of Economic Research, Inc.

    Cited by:

    1. Aussenegg, Wolfgang & Pichler, Pegaret & Stomper, Alex, 2006. "IPO Pricing with Bookbuilding and a When-Issued Market," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 41(4), pages 829-862, December.
    2. Maher Kooli & Jean-Marc Suret, 2001. "The Aftermarket Performance of Initial Public Offerings in Canada," CIRANO Working Papers 2001s-52, CIRANO.
    3. Amihud, Yakov & Hauser, Shmuel & Kirsh, Amir, 2003. "Allocations, adverse selection, and cascades in IPOs: Evidence from the Tel Aviv Stock Exchange," Journal of Financial Economics, Elsevier, vol. 68(1), pages 137-158, April.
    4. L. Cassia & G. Giudici & S. Paleari & R. Redondi, 2004. "IPO underpricing in Italy," Applied Financial Economics, Taylor & Francis Journals, vol. 14(3), pages 179-194.
    5. Lawrence M. Benveniste & Alexander Ljungqvist & William J. Wilhelm & Xiaoyun Yu, 2002. "Evidence of Information Spillovers in the Production of Investment Banking Services," OFRC Working Papers Series 2002fe06, Oxford Financial Research Centre.
    6. Demers, Elizabeth & Lewellen, Katharina, 2003. "The marketing role of IPOs: evidence from internet stocks," Journal of Financial Economics, Elsevier, vol. 68(3), pages 413-437, June.
    7. Cornelli, Francesca & Goldreich, David, 2001. "Bookbuilding: How Informative is the Order Book?," CEPR Discussion Papers 2863, C.E.P.R. Discussion Papers.
    8. Maher Kooli & Jean-Marc Suret, 2001. "The Underpricing of Initial Public Offerings: Further Canadian Evidence," CIRANO Working Papers 2001s-50, CIRANO.
    9. Michelle Lowry & G. William Schwert, 2000. "IPO Market Cycles: Bubbles or Sequential Learning?," NBER Working Papers 7935, National Bureau of Economic Research, Inc.

  3. Michelle Lowry & G. William Schwert, 2000. "IPO Market Cycles: Bubbles or Sequential Learning?," NBER Working Papers 7935, National Bureau of Economic Research, Inc.

    Cited by:

    1. Ljungqvist, Alexander P. & Wilhelm Jr, William J, 2001. "IPO Allocations: Discriminatory or Discretionary?," CEPR Discussion Papers 2855, C.E.P.R. Discussion Papers.
    2. Ljungqvist, Alexander P. & Nanda, Vikram & Singh, Rajdeep, 2001. "Hot Markets, Investor Sentiment and IPO Pricing," CEPR Discussion Papers 3053, C.E.P.R. Discussion Papers.
    3. Lawrence M. Benveniste & Alexander Ljungqvist & William J. Wilhelm & Xiaoyun Yu, 2002. "Evidence of Information Spillovers in the Production of Investment Banking Services," OFRC Working Papers Series 2002fe06, Oxford Financial Research Centre.
    4. Chemmanur, Thomas J. & Wilhelm, William Jr., 2002. "New Technologies, Financial Innovation, and Intermediation," Journal of Financial Intermediation, Elsevier, vol. 11(1), pages 2-8, January.

Articles

  1. Lee, Lian Fen & Lowry, Michelle & Shu, Susan, 2018. "Are all perks solely perks? Evidence from corporate jets," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 460-473.

    Cited by:

    1. Li, Bin & Yao, Yao & Shahab, Yasir & Li, Hai-Xia & Ntim, Collins G., 2020. "Parent-subsidiary dispersion and executive excess perks consumption," International Review of Financial Analysis, Elsevier, vol. 70(C).
    2. Bushee, Brian J. & Gerakos, Joseph & Lee, Lian Fen, 2018. "Corporate jets and private meetings with investors," Journal of Accounting and Economics, Elsevier, vol. 65(2), pages 358-379.

  2. Peter Iliev & Michelle Lowry, 2015. "Are Mutual Funds Active Voters?," Review of Financial Studies, Society for Financial Studies, vol. 28(2), pages 446-485.

    Cited by:

    1. Aggarwal, Reena & Dahiya, Sandeep & Prabhala, Nagpurnanand R., 2019. "The power of shareholder votes: Evidence from uncontested director elections," Journal of Financial Economics, Elsevier, vol. 133(1), pages 134-153.
    2. Nadya Malenko & Yao Shen, 2016. "The Role of Proxy Advisory Firms: Evidence from a Regression-Discontinuity Design," Review of Financial Studies, Society for Financial Studies, vol. 29(12), pages 3394-3427.
    3. Jang-Sup Shin, 2018. "The Subversion of Shareholder Democracy and the Rise of Hedge-Fund Activism," Working Papers Series 77, Institute for New Economic Thinking.
    4. Yonca Ertimur & Fabrizio Ferri & David Oesch, 2018. "Understanding Uncontested Director Elections," Management Science, INFORMS, vol. 64(7), pages 3400-3420, July.
    5. Sudipto Dasgupta & Thomas H. Noe, 2019. "Does Pay Activism Pay Off for Shareholders? Shareholder Democracy and Its Discontents," Management Science, INFORMS, vol. 65(4), pages 1810-1832, April.
    6. Choonsik Lee & Matthew E. Souther, 2020. "Managerial Reliance on the Retail Shareholder Vote: Evidence from Proxy Delivery Methods," Management Science, INFORMS, vol. 66(4), pages 1717-1736, April.
    7. Bolton, Patrick & Li, Tao & Ravina, Enrichetta & Rosenthal, Howard, 2020. "Investor ideology," Journal of Financial Economics, Elsevier, vol. 137(2), pages 320-352.
    8. Stephen G. Dimmock & William C. Gerken & Zoran Ivković & Scott J. Weisbenner, 2014. "Capital Gains Lock-In and Governance Choices," NBER Working Papers 20176, National Bureau of Economic Research, Inc.
    9. Appel, Ian R. & Gormley, Todd A. & Keim, Donald B., 2016. "Passive investors, not passive owners," Journal of Financial Economics, Elsevier, vol. 121(1), pages 111-141.
    10. Calluzzo, Paul & Kedia, Simi, 2019. "Mutual fund board connections and proxy voting," Journal of Financial Economics, Elsevier, vol. 134(3), pages 669-688.
    11. Xue, Xiaolin & Zhang, Junrui & Yu, Yangxin, 2020. "Distracted passive institutional shareholders and firm transparency," Journal of Business Research, Elsevier, vol. 110(C), pages 347-359.
    12. Christie Hayne & Marshall Vance, 2019. "Information Intermediary or De Facto Standard Setter? Field Evidence on the Indirect and Direct Influence of Proxy Advisors," Journal of Accounting Research, Wiley Blackwell, vol. 57(4), pages 969-1011, September.
    13. Chen, Victor Zitian & Hobdari, Bersant & Zhang, Yilei, 2019. "Blockholder heterogeneity and conflicts in cross-border acquisitions," Journal of Corporate Finance, Elsevier, vol. 57(C), pages 86-101.
    14. Kiesewetter, Dirk & Manthey, Johannes, 2017. "The relationship between corporate governance and tax avoidance - evidence from Germany using a regression discontinuity design," arqus Discussion Papers in Quantitative Tax Research 218, arqus - Arbeitskreis Quantitative Steuerlehre.
    15. Alan D. Crane & Andrew Koch, 2018. "Shareholder Litigation and Ownership Structure: Evidence from a Natural Experiment," Management Science, INFORMS, vol. 64(1), pages 5-23, January.
    16. Bar-Isaac, Heski & Shapiro, Joel, 2017. "Blockholder Voting," CEPR Discussion Papers 11933, C.E.P.R. Discussion Papers.
    17. Massa, Massimo & Žaldokas, Alminas, 2017. "Information transfers among co-owned firms," Journal of Financial Intermediation, Elsevier, vol. 31(C), pages 77-92.
    18. Ian R. Appel & Todd A. Gormley & Donald B. Keim, 2016. "Standing on the Shoulders of Giants: The Effect of Passive Investors on Activism," NBER Working Papers 22707, National Bureau of Economic Research, Inc.
    19. Denes, Matthew R. & Karpoff, Jonathan M. & McWilliams, Victoria B., 2017. "Thirty years of shareholder activism: A survey of empirical research," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 405-424.
    20. Erel, Isil & Stern, Lea Henny & Tan, Chenhao & Weisbach, Michael S., 2018. "Selecting Directors Using Machine Learning," Working Paper Series 2018-05, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    21. Gilje, Erik P. & Gormley, Todd A. & Levit, Doron, 2020. "Who's paying attention? Measuring common ownership and its impact on managerial incentives," Journal of Financial Economics, Elsevier, vol. 137(1), pages 152-178.
    22. Paul M. Guest & Marco Nerino, 2019. "Do Corporate Governance Ratings Change Investor Expectations? Evidence from Announcements by Institutional Shareholder Services," Working Papers wp515, Centre for Business Research, University of Cambridge.
    23. Patrick Bolton & Tao Li & Enrichetta Ravina & Howard L. Rosenthal, 2019. "Investor Ideology," NBER Working Papers 25717, National Bureau of Economic Research, Inc.
    24. Tao Li, 2018. "Outsourcing Corporate Governance: Conflicts of Interest Within the Proxy Advisory Industry," Management Science, INFORMS, vol. 64(6), pages 2951-2971, June.
    25. Gine, Mireia & Moussawi, Rabih & Sedunov, John, 2017. "Governance mechanisms and effective activism: Evidence from shareholder proposals on poison pills," Journal of Empirical Finance, Elsevier, vol. 43(C), pages 185-202.
    26. Bolton, Patrick & Li, Tao & Ravina, Enrichetta & Rosenthal, Howard, 2019. "Investor Ideology," CEPR Discussion Papers 13633, C.E.P.R. Discussion Papers.

  3. Field, Laura & Lowry, Michelle & Mkrtchyan, Anahit, 2013. "Are busy boards detrimental?," Journal of Financial Economics, Elsevier, vol. 109(1), pages 63-82.

    Cited by:

    1. Ewens, Michael & Malenko, Nadya, 2020. "Board Dynamics over the Startup Life Cycle," SocArXiv t96yq, Center for Open Science.
    2. Bao, Xiaolu & Johan, Sofia & Kutsuna, Kenji, 2016. "Do political connections matter in accessing capital markets? Evidence from China," Emerging Markets Review, Elsevier, vol. 29(C), pages 24-41.
    3. Balsmeier, Benjamin & Buchwald, Achim & Stiebale, Joel, 2014. "Outside directors on the board and innovative firm performance," Research Policy, Elsevier, vol. 43(10), pages 1800-1815.
    4. Joohee Park & Chune Young Chung, 2016. "CEO Overconfidence, Leadership Ethics, and Institutional Investors," Sustainability, MDPI, Open Access Journal, vol. 9(1), pages 1-28, December.
    5. Chen, Zonghao & Keefe, Michael O'Connor, 2020. "Rookie directors and firm performance: Evidence from China11We thank William L Megginson (the editor), two anonymous referees, Graeme Guthrie, Heng Geng, Adrian Cheung and seminar participants at the ," Journal of Corporate Finance, Elsevier, vol. 60(C).
    6. Lai, Jung-Ho & Chen, Li-Yu & Song, Sangcheol, 2019. "How outside directors’ human and social capital create value for corporate international investments," Journal of World Business, Elsevier, vol. 54(2), pages 93-106.
    7. Balachandran, Balasingham & Williams, Barry, 2018. "Effective governance, financial markets, financial institutions & crises," Pacific-Basin Finance Journal, Elsevier, vol. 50(C), pages 1-15.
    8. Ferris, Stephen P. & Liao, Min-Yu (Stella) & Tamm, Chris, 2018. "The compensation of busy directors: An international analysis," Research in International Business and Finance, Elsevier, vol. 46(C), pages 294-312.
    9. Zhou, Yifan & Kara, Alper & Molyneux, Philip, 2019. "Chair-CEO generation gap and bank risk-taking," The British Accounting Review, Elsevier, vol. 51(4), pages 352-372.
    10. Yogesh Chauhan & Sudhakara Reddy Syamala & Kavita Wadhwa, 2015. "Board busyness and crash risk: evidence from Indian stock market," International Journal of Corporate Governance, Inderscience Enterprises Ltd, vol. 6(1), pages 1-24.
    11. Chen, Li-Yu & Lai, Jung-Ho & Chen, Carl R., 2015. "Multiple directorships and the performance of mergers & acquisitions," The North American Journal of Economics and Finance, Elsevier, vol. 33(C), pages 178-198.
    12. Deloof, Marc & Vermoesen, Veronique, 2016. "The value of corporate boards during the Great Depression in Belgium," Explorations in Economic History, Elsevier, vol. 62(C), pages 108-123.
    13. Masulis, Ronald W. & Zhang, Emma Jincheng, 2019. "How valuable are independent directors? Evidence from external distractions," Journal of Financial Economics, Elsevier, vol. 132(3), pages 226-256.
    14. Lim, Ivan & Hagendorff, Jens & Armitage, Seth, 2019. "Is the fox guarding the henhouse? Bankers in the Federal Reserve, bank leverage and risk-shifting," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 478-504.
    15. Adams, Mike & Jiang, Wei, 2016. "Do outside directors influence the financial performance of risk-trading firms? Evidence from the United Kingdom (UK) insurance industry," Journal of Banking & Finance, Elsevier, vol. 64(C), pages 36-51.
    16. Masulis, Ronald W. & Mobbs, Shawn, 2014. "Independent director incentives: Where do talented directors spend their limited time and energy?," Journal of Financial Economics, Elsevier, vol. 111(2), pages 406-429.
    17. Eckbo, B Espen & Nygaard, Knut & Thorburn, Karin S, 2016. "Does gender-balancing the board reduce firm value?," CEPR Discussion Papers 11176, C.E.P.R. Discussion Papers.
    18. Dumitru-Nicusor CARAUSU, 2015. "Monitor And Control In Companies: An Agency Theory Approach," Journal of Public Administration, Finance and Law, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 0(Special i), pages 46-60, September.
    19. Nadia Mans-Kemp & Suzette Viviers & Sian Collins, 2018. "Exploring the causes and consequences of director overboardedness in an emerging market," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 15(4), pages 210-220, November.
    20. Ooi, Elizabeth, 2020. "Directors who serve multiple pension funds: Are they conflicted or skilled?," Journal of Banking & Finance, Elsevier, vol. 113(C).
    21. Falato, Antonio & Kadyrzhanova, Dalida & Lel, Ugur, 2014. "Distracted directors: Does board busyness hurt shareholder value?," Journal of Financial Economics, Elsevier, vol. 113(3), pages 404-426.
    22. Bischoff, Oliver & Buchwald, Achim, 2015. "Horizontal and Vertical Firm Networks, Corporate Performance and Product Market Competition," MPRA Paper 63413, University Library of Munich, Germany.
    23. Chakravarty, Sugato & Rutherford, Leann G., 2017. "Do busy directors influence the cost of debt? An examination through the lens of takeover vulnerability," Journal of Corporate Finance, Elsevier, vol. 43(C), pages 429-443.
    24. Mohammed Mahmud Kakanda, & Basariah Salim, & Sitraselvi Chandren,, 2017. "Do board characteristics and risk management disclosure have any effect on firm performance? Empirical evidence from Deposit Money Banks (DMBs) in Nigeria," Business and Economic Horizons (BEH), Prague Development Center, vol. 13(4), pages 506-521, October.
    25. Drobetz, Wolfgang & von Meyerinck, Felix & Oesch, David & Schmid, Markus, 2014. "Board Industry Experience, Firm Value, and Investment Behavior," Working Papers on Finance 1401, University of St. Gallen, School of Finance, revised Dec 2015.
    26. James, Hui Liang & Wang, Hongxia & Xie, Yamin, 2018. "Busy directors and firm performance: Does firm location matter?," The North American Journal of Economics and Finance, Elsevier, vol. 45(C), pages 1-37.
    27. Dou, Ying, 2017. "Leaving before bad times: Does the labor market penalize preemptive director resignations?," Journal of Accounting and Economics, Elsevier, vol. 63(2), pages 161-178.
    28. Sun, Jerry & Liu, Guoping, 2014. "Audit committees’ oversight of bank risk-taking," Journal of Banking & Finance, Elsevier, vol. 40(C), pages 376-387.
    29. Chune Young Chung & Chang Liu & Kainan Wang & Blerina Bela Zykaj, 2015. "Institutional Monitoring: Evidence from the F-Score," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 42(7-8), pages 885-914, September.
    30. Sandra Cavaco & Patricia Crifo & Antoine Rebérioux & Gwenael Roudaut, 2017. "Independent directors: less informed but better selected than affiliated board members?," Post-Print hal-01549817, HAL.
    31. Chen, Zonghao & Keefe, Michael O’Connor, 2018. "Board of director compensation in China: To pay or not to pay? How much to pay?," Emerging Markets Review, Elsevier, vol. 37(C), pages 66-82.
    32. Chen, Jie & Leung, Woon Sau & Evans, Kevin P., 2018. "Female board representation, corporate innovation and firm performance," Journal of Empirical Finance, Elsevier, vol. 48(C), pages 236-254.
    33. Ying Wang & Jing Zhao, 2015. "Hedge Funds and Corporate Innovation," Financial Management, Financial Management Association International, vol. 44(2), pages 353-385, June.
    34. Balsmeier, Benjamin & Fleming, Lee & Manso, Gustavo, 2017. "Independent boards and innovation," Journal of Financial Economics, Elsevier, vol. 123(3), pages 536-557.
    35. Muravyev, Alexander & Talavera, Oleksandr & Weir, Charlie, 2014. "Performance Effects of Appointing Other Firms' Executive Directors to Corporate Boards: An Analysis of UK Firms," IZA Discussion Papers 7962, Institute of Labor Economics (IZA).
    36. Lin, Zhijun & Song, Byron Y. & Tian, Zhimin, 2016. "Does director-level reputation matter? Evidence from bank loan contracting," Journal of Banking & Finance, Elsevier, vol. 70(C), pages 160-176.
    37. S. Baccouche & M. Hadriche & A. Omri, 2014. "Multiple directorships and board meeting frequency: evidence from France," Applied Financial Economics, Taylor & Francis Journals, vol. 24(14), pages 983-992, July.
    38. Etienne Redor, 2016. "Board attributes and shareholder wealth in mergers and acquisitions: a survey of the literature," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 20(4), pages 789-821, December.
    39. Ruihao Ke & Meng Li & Yuan Zhang, 2020. "Directors' Informational Role in Corporate Voluntary Disclosure: An Analysis of Directors from Related Industries†," Contemporary Accounting Research, John Wiley & Sons, vol. 37(1), pages 392-418, March.
    40. Flora Niu & Greg Berberich, 2015. "Director tenure and busyness and corporate governance," International Journal of Corporate Governance, Inderscience Enterprises Ltd, vol. 6(1), pages 56-69.
    41. Baran, Lindsay & Forst, Arno, 2015. "Disproportionate insider control and board of director characteristics," Journal of Corporate Finance, Elsevier, vol. 35(C), pages 62-80.
    42. Yuliya Ponomareva, 2019. "Balancing control and delegation: the moderating influence of managerial discretion on performance effects of board monitoring and CEO human capital," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 23(1), pages 195-225, March.
    43. Nimisha Kapoor & Sandeep Goel, 2017. "Board Characteristics, Firm Profitability and Earnings Management: Evidence from India," Australian Accounting Review, CPA Australia, vol. 27(2), pages 180-194, June.
    44. Moez Bennouri & Tawhid Chtioui & Haithem Nagati & Mehdi Nekhili, 2018. "Female board directorship and firm performance: What really matters?," Post-Print hal-02380497, HAL.
    45. Baran, Lindsay, 2017. "Director connectedness and firm value in S&P 500 Index reconstitutions," Journal of Economics and Business, Elsevier, vol. 92(C), pages 63-79.
    46. Alexander Ljungqvist & Konrad Raff, 2017. "Busy Directors: Strategic Interaction and Monitoring Synergies," NBER Working Papers 23889, National Bureau of Economic Research, Inc.
    47. Andreou, Panayiotis C. & Louca, Christodoulos & Panayides, Photis M., 2014. "Corporate governance, financial management decisions and firm performance: Evidence from the maritime industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 63(C), pages 59-78.
    48. Lel, Ugur & Miller, Darius, 2019. "The labor market for directors and externalities in corporate governance: Evidence from the international labor market," Journal of Accounting and Economics, Elsevier, vol. 68(1).
    49. Ferris, Stephen P. & Jayaraman, Narayanan & Liao, Min-Yu (Stella), 2020. "Better directors or distracted directors? An international analysis of busy boards," Global Finance Journal, Elsevier, vol. 44(C).
    50. Jonathan A. Christy & Zoltan P. Matolcsy & Anna Wright & Anne Wyatt, 2013. "Do Board Characteristics Influence the Shareholders' Assessment of Risk for Small and Large Firms?," Abacus, Accounting Foundation, University of Sydney, vol. 49(2), pages 161-196, June.
    51. Hauser, Roie, 2018. "Busy directors and firm performance: Evidence from mergers," Journal of Financial Economics, Elsevier, vol. 128(1), pages 16-37.
    52. Kozubovska, Mariolia, 2017. "Breaking up big banks," Research in International Business and Finance, Elsevier, vol. 41(C), pages 198-219.
    53. Boateng, Agyenim & Liu, Yang & Brahma, Sanjukta, 2019. "Politically connected boards, ownership structure and credit risk: Evidence from Chinese commercial banks," Research in International Business and Finance, Elsevier, vol. 47(C), pages 162-173.
    54. Pandey, Rakesh & Vithessonthi, Chaiporn & Mansi, Mansi, 2015. "Busy CEOs and the performance of family firms," Research in International Business and Finance, Elsevier, vol. 33(C), pages 144-166.
    55. Rex Wang Renjie & Patrick Verwijmeren, 2020. "Director attention and firm value," Financial Management, Financial Management Association International, vol. 49(2), pages 361-387, June.
    56. Henrique Castro Martins & Cristiano Machado Costa, 2020. "Does control concentration affect board busyness? International evidence," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 24(3), pages 821-850, September.
    57. Stein, Luke C.D. & Zhao, Hong, 2019. "Independent executive directors: How distraction affects their advisory and monitoring roles," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 199-223.
    58. Agarwal, Vikas & Ma, Linlin, 2013. "Managerial multitasking in the mutual fund industry," CFR Working Papers 13-10, University of Cologne, Centre for Financial Research (CFR).
    59. Eulaiwi, Baban & Al-Hadi, Ahmed & Taylor, Grantley & Al-Yahyaee, Khamis Hamed & Evans, John, 2016. "Multiple directorships, family ownership and the board nomination committee: International evidence from the GCC," Emerging Markets Review, Elsevier, vol. 28(C), pages 61-88.
    60. Ying Gan & Buhui Qiu, 2019. "Escape from the USA: Government debt-to-GDP ratio, country tax competitiveness, and US-OECD cross-border M&As," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(7), pages 1156-1183, September.
    61. Tiago Miguel Sá & Elisabete Duarte Neves & Cristina Gonçalves Góis, 2017. "The influence of corporate governance on changes in risk following the global financial crisis: evidence from the Portuguese stock market," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 21(4), pages 841-878, December.
    62. Xia, Changyuan & Zhang, Xiaowei & Cao, Chunfang & Xu, Nan, 2019. "Independent director connectedness in China: An examination of the trade credit financing hypothesis," International Review of Economics & Finance, Elsevier, vol. 63(C), pages 209-225.

  4. David Haushalter & Michelle Lowry, 2011. "When Do Banks Listen to Their Analysts? Evidence from Mergers and Acquisitions," Review of Financial Studies, Society for Financial Studies, vol. 24(2), pages 321-357.

    Cited by:

    1. John R. Busenbark & Donald Lange & S. Trevis Certo, 2017. "Foreshadowing as Impression Management: Illuminating the Path for Security Analysts," Strategic Management Journal, Wiley Blackwell, vol. 38(12), pages 2486-2507, December.
    2. Hassan Tehranian & Mengxing Zhao & Julie L. Zhu, 2014. "Can Analysts Analyze Mergers?," Management Science, INFORMS, vol. 60(4), pages 959-979, April.
    3. Andreas Charitou & Irene Karamanou, 2020. "Sleeping with the enemy: should investment banks be allowed to engage in prop trading?," Review of Accounting Studies, Springer, vol. 25(2), pages 513-557, June.
    4. Falko Fecht & Andreas Hackethal & Yigitcan Karabulut, 2018. "Is Proprietary Trading Detrimental to Retail Investors?," Journal of Finance, American Finance Association, vol. 73(3), pages 1323-1361, June.
    5. Yao-Min Chiang & Michelle Lowry & Yiming Qian, 2019. "The Information Advantage of Underwriters in IPOs," Management Science, INFORMS, vol. 65(12), pages 5721-5740, December.

  5. Field, Laura Casares & Lowry, Michelle, 2009. "Institutional versus Individual Investment in IPOs: The Importance of Firm Fundamentals," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 44(3), pages 489-516, June.

    Cited by:

    1. Demiralp, Ilhan & D'Mello, Ranjan & Schlingemann, Frederik P. & Subramaniam, Venkat, 2011. "Are there monitoring benefits to institutional ownership? Evidence from seasoned equity offerings," Journal of Corporate Finance, Elsevier, vol. 17(5), pages 1340-1359.
    2. Cécile Carpentier & Jean‐Marc Suret, 2018. "Three Decades of IPO Markets in Canada: Evolution, Risk and Return," Accounting Perspectives, John Wiley & Sons, vol. 17(1), pages 123-161, March.
    3. François DEGEORGE & François DERRIEN & Kent L. WOMACK, 2008. "Auctioned IPOs: The U.S. Evidence," Swiss Finance Institute Research Paper Series 08-38, Swiss Finance Institute.
    4. Muhammad Zubair Mumtaz & Zachary Alexander Smith & Ather Maqsood Ahmed, 2016. "An Empirical Analysis of the Implicit Growth Rate for Industrial IPOs Listed in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 55(1), pages 15-28.
    5. Giordano Cogliati & Stefano Paleari & Silvio Vismara, 2011. "IPO pricing: growth rates implied in offer prices," Annals of Finance, Springer, vol. 7(1), pages 53-82, February.
    6. Anderson, Christopher W. & Huang, Jian & Torna, Gökhan, 2017. "Can investors anticipate post-IPO mergers and acquisitions?," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 496-521.
    7. Michael O'Connor Keefe & David Gallagher, 2014. "Does the effect of revealed private information on initial public offering (IPO) first trading day return differ by IPO market heat?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 54(3), pages 921-964, September.
    8. Ľuboš Pástor & Robert F. Stambaugh & Lucian A. Taylor, 2017. "Do Funds Make More When They Trade More?," Journal of Finance, American Finance Association, vol. 72(4), pages 1483-1528, August.
    9. Cattaneo, Mattia & Meoli, Michele & Vismara, Silvio, 2015. "Financial regulation and IPOs: Evidence from the history of the Italian stock market," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 116-131.
    10. Ruey-Dang Chang & Jo-Ting Wei, 2011. "Effects of governance on investment decisions and perceptions of reporting credibility: Investment experience of Taiwanese individual investors," Asia Pacific Journal of Management, Springer, vol. 28(1), pages 139-155, March.
    11. Park, Jinwoo & Lee, Posang & Park, Yun W., 2014. "Information effect of involuntary delisting and informed trading," Pacific-Basin Finance Journal, Elsevier, vol. 30(C), pages 251-269.
    12. Erwan Quintin & Cyril Monnet, 2014. "A Theory of Blind Trading," 2014 Meeting Papers 283, Society for Economic Dynamics.
    13. Paul B. McGuinness, 2019. "The Role of Governance and Bank Funding in the Determination of Cornerstone Allocations in Chinese Equity Offers," Journal of Risk and Financial Management, MDPI, Open Access Journal, vol. 12(3), pages 1-20, July.
    14. Sherrill Shaffer & Tatyana Sokolyk, 2013. "Bank Loans to Newly Public Firms," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 16(2), pages 33-56, Spring.
    15. Lo, Huai-Chun & Wu, Ruei-Shian & Kweh, Qian Long, 2017. "Do institutional investors reinforce or reduce agency problems? Earnings management and the post-IPO performance," International Review of Financial Analysis, Elsevier, vol. 52(C), pages 62-76.
    16. Michel, Allen & Oded, Jacob & Shaked, Israel, 2020. "Institutional investors and firm performance: Evidence from IPOs," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
    17. Douglas O. Cook & Tian Tang, 2010. "The Impact of Regulation FD on Institutional Investor Informativeness," Financial Management, Financial Management Association International, vol. 39(3), pages 1273-1294, September.
    18. Anderson, Christopher W. & Huang, Jian, 2017. "Institutional investment in IPOs and post-IPO M&A activity," Journal of Empirical Finance, Elsevier, vol. 41(C), pages 1-18.
    19. Neupane, Suman & Neupane, Biwesh & Paudyal, Krishna & Thapa, Chandra, 2016. "Domestic and foreign institutional investors' investment in IPOs," Pacific-Basin Finance Journal, Elsevier, vol. 39(C), pages 197-210.
    20. Neupane, Suman & Paudyal, Krishna & Thapa, Chandra, 2014. "Firm quality or market sentiment: What matters more for IPO investors?," Journal of Banking & Finance, Elsevier, vol. 44(C), pages 207-218.
    21. Massimo Guidolin & Simona Mola, 2006. "Why do analysts continue to provide favorable coverage for seasoned stocks?," Working Papers 2006-034, Federal Reserve Bank of St. Louis.
    22. Ertimur, Yonca & Sletten, Ewa & Sunder, Jayanthi, 2014. "Large shareholders and disclosure strategies: Evidence from IPO lockup expirations," Journal of Accounting and Economics, Elsevier, vol. 58(1), pages 79-95.
    23. Ewa Sletten & Yonca Ertimur & Jayanthi Sunder & Joseph Weber, 2018. "When and why do IPO firms manage earnings?," Review of Accounting Studies, Springer, vol. 23(3), pages 872-906, September.
    24. Zeng, Yeqin, 2016. "Institutional investors: Arbitrageurs or rational trend chasers," International Review of Financial Analysis, Elsevier, vol. 45(C), pages 240-262.
    25. De, Soumendra & Jindra, Jan, 2012. "Why newly listed firms become acquisition targets," Journal of Banking & Finance, Elsevier, vol. 36(9), pages 2616-2631.
    26. T. Clifton Green & Byoung-Hyoun Hwang, 2012. "Initial Public Offerings as Lotteries: Skewness Preference and First-Day Returns," Management Science, INFORMS, vol. 58(2), pages 432-444, February.
    27. Bushee, Brian & Cedergren, Matthew & Michels, Jeremy, 2020. "Does the media help or hurt retail investors during the IPO quiet period?," Journal of Accounting and Economics, Elsevier, vol. 69(1).
    28. Ismail, Ahmad & Khalil, Samer & Safieddine, Assem & Titman, Sheridan, 2019. "Smart investments by smart money: Evidence from acquirers' projected synergies," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 343-363.
    29. Duca, Eric, 2016. "Do investors learn from the past? Evidence from follow-on equity issues," Journal of Corporate Finance, Elsevier, vol. 39(C), pages 36-52.
    30. Rama Seth & S. R. Vishwanatha & Durga Prasad, 2019. "Allocation to Anchor Investors, Underpricing, and the After‐Market Performance of IPOs," Financial Management, Financial Management Association International, vol. 48(1), pages 159-186, March.
    31. Monnet, Cyril & Quintin, Erwan, 2017. "Limited disclosure and hidden orders in asset markets," Journal of Financial Economics, Elsevier, vol. 123(3), pages 602-616.
    32. Wei Tang & Tianhao Wu & Liheng Xu, 2017. "Skewness Preference and IPO Anomalies in China," Annals of Economics and Finance, Society for AEF, vol. 18(1), pages 173-199, May.
    33. Salim Chahine & Gonul Colak & Iftekhar Hasan & Mohamad Mazboudi, 2020. "Investor relations and IPO performance," Review of Accounting Studies, Springer, vol. 25(2), pages 474-512, June.

  6. Lowry, Michelle, 2009. "Discussion of [`]shareholder litigation and changes in disclosure behavior'," Journal of Accounting and Economics, Elsevier, vol. 47(1-2), pages 157-159, March.

    Cited by:

    1. Hanley, Kathleen Weiss & Hoberg, Gerard, 2012. "Litigation risk, strategic disclosure and the underpricing of initial public offerings," Journal of Financial Economics, Elsevier, vol. 103(2), pages 235-254.
    2. Hassanein, Ahmed & Hussainey, Khaled, 2015. "Is forward-looking financial disclosure really informative? Evidence from UK narrative statements," International Review of Financial Analysis, Elsevier, vol. 41(C), pages 52-61.
    3. Lin, Chen & Officer, Micah S. & Schmid, Thomas & Zou, Hong, 2019. "Is skin in the game a game changer? Evidence from mandatory changes of D&O insurance policies," Journal of Accounting and Economics, Elsevier, vol. 68(1).

  7. Lowry, Michelle & Murphy, Kevin J., 2007. "Executive stock options and IPO underpricing," Journal of Financial Economics, Elsevier, vol. 85(1), pages 39-65, July.

    Cited by:

    1. Chahine, Salim & Goergen, Marc, 2011. "The two sides of CEO option grants at the IPO," Journal of Corporate Finance, Elsevier, vol. 17(4), pages 1116-1131, September.
    2. Aissia, Dorsaf Ben, 2014. "IPO first-day returns: Skewness preference, investor sentiment and uncertainty underlying factors," Review of Financial Economics, Elsevier, vol. 23(3), pages 148-154.
    3. Heitzman, Shane, 2011. "Equity grants to target CEOs during deal negotiations," Journal of Financial Economics, Elsevier, vol. 102(2), pages 251-271.
    4. Mantecon, Tomas & Poon, Percy, 2009. "An analysis of the liquidity benefits provided by secondary markets," Journal of Banking & Finance, Elsevier, vol. 33(2), pages 335-346, February.
    5. Ren, Siewan & Wright, Anna & Wyatt, Anne, 2012. "Stock option use by Australian IPOs," Journal of Contemporary Accounting and Economics, Elsevier, vol. 8(1), pages 1-22.
    6. Cristiana Cardi & Camilla Mazzoli & Sabrina Severini, 2019. "People have the power: post IPO effects of intellectual capital disclosure," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 43(2), pages 228-255, April.
    7. João Paulo Vieito & António Cerqueira & Elísio Brandão & Walayet A. Khan, 2009. "Executive Compensation: the Finance Perspective," Portuguese Journal of Management Studies, ISEG, Universidade de Lisboa, vol. 0(1), pages 3-32.
    8. Gullapalli, Rachita & Knyazeva, Anzhela, 2020. "Foreign issuers in emerging growth company IPOs," Journal of Multinational Financial Management, Elsevier, vol. 54(C).
    9. Adams, Brian & Carow, Kenneth A. & Perry, Tod, 2009. "Earnings management and initial public offerings: The case of the depository industry," Journal of Banking & Finance, Elsevier, vol. 33(12), pages 2363-2372, December.
    10. Killins, Robert N., 2019. "An investigation of the short-term performance of the Canadian IPO market," Research in International Business and Finance, Elsevier, vol. 47(C), pages 102-113.
    11. Cristiana Cardi & Camilla Mazzoli & Sabrina Severini, 2018. "Friend or foe? The effect of corporate governance on intellectual capital disclosure in IPOs," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 15(1), pages 1-12, February.
    12. Signori, Andrea, 2018. "Zero-revenue IPOs," International Review of Financial Analysis, Elsevier, vol. 57(C), pages 106-121.
    13. Wolfgang Bessler & Christoph Becker & Daniil Wagner, 2009. "The Design and Success of Stock Options Plans for New Economy Firms in Germany," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 12(4), pages 1-34, Spring.
    14. Dorsaf Ben Aissia & Narjess Skhiri Hellara, 2019. "Systematic risk, the tradeoff of leverage and IPO first-day returns," Review of Quantitative Finance and Accounting, Springer, vol. 53(1), pages 239-256, July.
    15. Bajo, Emanuele & Barbi, Massimiliano & Petrella, Giovanni, 2017. "Do firms get what they pay for? A second thought on over-allotment option in IPOs," The Quarterly Review of Economics and Finance, Elsevier, vol. 63(C), pages 219-232.
    16. Alok R. Saboo & Anindita Chakravarty & Rajdeep Grewal, 2016. "Organizational Debut on the Public Stage: Marketing Myopia and Initial Public Offerings," Marketing Science, INFORMS, vol. 35(4), pages 656-675, July.
    17. Fu, Xudong & Lian, Qin & Tang, Tian & Wang, Qiming, 2015. "An empirical study of executive option grants around initial public offerings," The Quarterly Review of Economics and Finance, Elsevier, vol. 57(C), pages 207-221.
    18. Butler, Alexander W. & Keefe, Michael O'Connor & Kieschnick, Robert, 2014. "Robust determinants of IPO underpricing and their implications for IPO research," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 367-383.
    19. Li, Xingli & Pukthuanthong, Kuntara & Glenn Walker, Marcus & Walker, Thomas John, 2016. "The determinants of IPO-related shareholder litigation: The role of CEO equity incentives and corporate governance," Journal of Financial Markets, Elsevier, vol. 31(C), pages 81-126.
    20. Chahine, Salim & Goergen, Marc, 2014. "Top management ties with board members: How they affect pay–performance sensitivity and IPO performance," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 99-115.
    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. Salim Chahine & Gonul Colak & Iftekhar Hasan & Mohamad Mazboudi, 2020. "Investor relations and IPO performance," Review of Accounting Studies, Springer, vol. 25(2), pages 474-512, June.

  8. Field, Laura & Lowry, Michelle & Shu, Susan, 2005. "Does disclosure deter or trigger litigation?," Journal of Accounting and Economics, Elsevier, vol. 39(3), pages 487-507, September.

    Cited by:

    1. Iatridis, George Emmanuel, 2016. "Financial reporting language in financial statements: Does pessimism restrict the potential for managerial opportunism?," International Review of Financial Analysis, Elsevier, vol. 45(C), pages 1-17.
    2. Agnes Cheng, C.S. & He Huang, Henry & Li, Yinghua & Lobo, Gerald, 2010. "Institutional monitoring through shareholder litigation," Journal of Financial Economics, Elsevier, vol. 95(3), pages 356-383, March.
    3. Paul G. Mahoney, 2009. "The Development of Securities Law in the United States," Journal of Accounting Research, Wiley Blackwell, vol. 47(2), pages 325-347, May.
    4. Cassell, Cory A. & Myers, Linda A. & Seidel, Timothy A., 2015. "Disclosure transparency about activity in valuation allowance and reserve accounts and accruals-based earnings management," Accounting, Organizations and Society, Elsevier, vol. 46(C), pages 23-38.
    5. Huang, Xuxing & Rui, Yixuan & Shen, Jianfeng & Tian, Gloria Y., 2017. "U.S. class action lawsuits targeting foreign firms: The country spillover effect," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 378-400.
    6. Mukesh Garg & Vic Naiker & Farshid Navissi, 2012. "Equity value implications of the SEC Exchange Act Rule 13a-14: a litigation cost perspective," Australian Journal of Management, Australian School of Business, vol. 37(1), pages 77-98, April.
    7. Hanley, Kathleen Weiss & Hoberg, Gerard, 2012. "Litigation risk, strategic disclosure and the underpricing of initial public offerings," Journal of Financial Economics, Elsevier, vol. 103(2), pages 235-254.
    8. Ahmed, Anwer S. & Duellman, Scott, 2007. "Accounting conservatism and board of director characteristics: An empirical analysis," Journal of Accounting and Economics, Elsevier, vol. 43(2-3), pages 411-437, July.
    9. Gillan, Stuart L. & Panasian, Christine A., 2014. "On Litigation Risk and Disclosure Complexity: Evidence from Canadian Firms Cross-Listed in the US," The International Journal of Accounting, Elsevier, vol. 49(4), pages 426-454.
    10. Kross, William J. & Ro, Byung T. & Suk, Inho, 2011. "Consistency in meeting or beating earnings expectations and management earnings forecasts," Journal of Accounting and Economics, Elsevier, vol. 51(1-2), pages 37-57, February.
    11. Athanasakou, Vasiliki E. & Strong, Norman C & Walker, Martin, 2014. "The relative concentration of bad versus good news flows," LSE Research Online Documents on Economics 60139, London School of Economics and Political Science, LSE Library.
    12. Ng, Anthony C. & Rezaee, Zabihollah, 2015. "Business sustainability performance and cost of equity capital," Journal of Corporate Finance, Elsevier, vol. 34(C), pages 128-149.
    13. Abdul Ghafoor & Rozaimah Zainudin & Nurul Shahnaz Mahdzan, 2019. "Factors Eliciting Corporate Fraud in Emerging Markets: Case of Firms Subject to Enforcement Actions in Malaysia," Journal of Business Ethics, Springer, vol. 160(2), pages 587-608, December.
    14. Dain C. Donelson & Christopher G. Yust, 2014. "Litigation Risk and Agency Costs: Evidence from Nevada Corporate Law," Journal of Law and Economics, University of Chicago Press, vol. 57(3), pages 747-780.
    15. Liu, Xiaoge & Miao, Miao & Liu, Ruiming, 2020. "Litigation and corporate risk taking: Evidence from Chinese listed firms," International Review of Law and Economics, Elsevier, vol. 61(C).
    16. Billings, Mary Brooke & Cedergren, Matthew C., 2015. "Strategic silence, insider selling and litigation risk," Journal of Accounting and Economics, Elsevier, vol. 59(2), pages 119-142.
    17. Agapova, Anna & Madura, Jeff, 2016. "Market uncertainty and earnings guidance," The Quarterly Review of Economics and Finance, Elsevier, vol. 61(C), pages 97-111.
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    1. Michelle Lowry & Micah S. Officer & G. William Schwert, 2010. "The Variability of IPO Initial Returns," Journal of Finance, American Finance Association, vol. 65(2), pages 425-465, April.
    2. Chong, Beng Soon & Liu, Zhenbin, 2020. "Issuer IPO underpricing and Directed Share Program (DSP)," Journal of Empirical Finance, Elsevier, vol. 56(C), pages 105-125.
    3. Sherman, Ann E., 2005. "Global trends in IPO methods: Book building versus auctions with endogenous entry," Journal of Financial Economics, Elsevier, vol. 78(3), pages 615-649, December.
    4. Liu, Xiaoding & Ritter, Jay R., 2011. "Local underwriter oligopolies and IPO underpricing," Journal of Financial Economics, Elsevier, vol. 102(3), pages 579-601.
    5. Bubna, Amit & Prabhala, Nagpurnanand R., 2011. "IPOs with and without allocation discretion: Empirical evidence," Journal of Financial Intermediation, Elsevier, vol. 20(4), pages 530-561, October.
    6. Cooney, John W. & Moeller, Thomas & Stegemoller, Mike, 2009. "The underpricing of private targets," Journal of Financial Economics, Elsevier, vol. 93(1), pages 51-66, July.
    7. Benveniste, Lawrence M. & Fu, Huijing & Seguin, Paul J. & Yu, Xiaoyun, 2008. "On the anticipation of IPO underpricing: Evidence from equity carve-outs," Journal of Corporate Finance, Elsevier, vol. 14(5), pages 614-629, December.
    8. Bajo, Emanuele & Chemmanur, Thomas J. & Simonyan, Karen & Tehranian, Hassan, 2016. "Underwriter networks, investor attention, and initial public offerings," Journal of Financial Economics, Elsevier, vol. 122(2), pages 376-408.
    9. Chahine, Salim & Goergen, Marc, 2011. "The two sides of CEO option grants at the IPO," Journal of Corporate Finance, Elsevier, vol. 17(4), pages 1116-1131, September.
    10. Aissia, Dorsaf Ben, 2014. "IPO first-day returns: Skewness preference, investor sentiment and uncertainty underlying factors," Review of Financial Economics, Elsevier, vol. 23(3), pages 148-154.
    11. Zheng Qiao & Chongwu Xia & Lei Zhang, 2020. "Does corporate hedging affect firm valuation? Evidence from the IPO market," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 40(6), pages 895-927, June.
    12. Akhigbe, Aigbe & Johnston, Jarrod & Madura, Jeff, 2006. "Long-term industry performance following IPOs," The Quarterly Review of Economics and Finance, Elsevier, vol. 46(4), pages 638-651, September.
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    14. Marcato, Gianluca & Milcheva, Stanimira & Zheng, Chen, 2018. "Market integration, country institutions and IPO underpricing," Journal of Corporate Finance, Elsevier, vol. 53(C), pages 87-105.
    15. Elizabeth Blankespoor & Bradley E. Hendricks & Gregory S. Miller, 2017. "Perceptions and Price: Evidence from CEO Presentations at IPO Roadshows," Journal of Accounting Research, Wiley Blackwell, vol. 55(2), pages 275-327, May.
    16. Lowry, Michelle & Murphy, Kevin J., 2007. "Executive stock options and IPO underpricing," Journal of Financial Economics, Elsevier, vol. 85(1), pages 39-65, July.
    17. Yun (Ellen) Zhu, 2009. "The Relation between IPO Underpricing and Litigation Risk Revisited: Changes between 1990 and 2002," Financial Management, Financial Management Association International, vol. 38(2), pages 323-355, June.
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    22. Chang, Kiyoung & Kim, Yong-Cheol & Kim, Young Sang & Thornton, John H., 2012. "Unintended regulatory consequences: Evidence from the Korean IPOs," Pacific-Basin Finance Journal, Elsevier, vol. 20(2), pages 292-309.
    23. Bakke, Einar & Leite, Tore E. & Thorburn, Karin S., 2010. "Public information and IPO underpricing," Discussion Papers 2010/6, Norwegian School of Economics, Department of Business and Management Science.
    24. Zhang, Feng, 2012. "Information precision and IPO pricing," Journal of Corporate Finance, Elsevier, vol. 18(2), pages 331-348.
    25. Bakke, Einar & Leite, Tore E. & Thorburn, Karin S., 2017. "Partial adjustment to public information in the pricing of IPOs," Journal of Financial Intermediation, Elsevier, vol. 32(C), pages 60-75.
    26. Chen Su, 2018. "The efficiency of IPO issuing mechanisms and market conditions: evidence in China," Review of Quantitative Finance and Accounting, Springer, vol. 51(2), pages 461-495, August.
    27. Michael O'Connor Keefe & David Gallagher, 2014. "Does the effect of revealed private information on initial public offering (IPO) first trading day return differ by IPO market heat?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 54(3), pages 921-964, September.
    28. Joyce E. Berg & George R. Neumann & Thomas A. Rietz, 2009. "Searching for Google's Value: Using Prediction Markets to Forecast Market Capitalization Prior to an Initial Public Offering," Management Science, INFORMS, vol. 55(3), pages 348-361, March.
    29. Colaco, Hugh M.J. & Ghosh, Chinmoy & Knopf, John D. & Teall, John L., 2009. "IPOs, clustering, indirect learning and filing independently," Journal of Banking & Finance, Elsevier, vol. 33(11), pages 2070-2079, November.
    30. 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.
    31. Huang, Hsin-Yi & Chiang, Min-Hsien & Lin, Jia-Hui & Lin, Yun, 2017. "Fixed-price, auction, and bookbuilding IPOs: Empirical evidence in Taiwan," Finance Research Letters, Elsevier, vol. 22(C), pages 11-19.
    32. Chuluun, Tuugi, 2015. "The role of underwriter peer networks in IPOs," Journal of Banking & Finance, Elsevier, vol. 51(C), pages 62-78.
    33. Sibylle H. Lehmann, 2014. "Taking firms to the stock market: IPOs and the importance of large banks in imperial Germany, 1896–1913," Economic History Review, Economic History Society, vol. 67(1), pages 92-122, February.
    34. Jeppsson, Hans, 2018. "Initial public offerings, subscription precommitments and venture capital participation," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 650-668.
    35. Kenji Kutsuna & Janet Kiholm Smith & Richard L. Smith, 2009. "Public Information, IPO Price Formation, and Long‐Run Returns: Japanese Evidence," Journal of Finance, American Finance Association, vol. 64(1), pages 505-546, February.
    36. Gullapalli, Rachita & Knyazeva, Anzhela, 2020. "Foreign issuers in emerging growth company IPOs," Journal of Multinational Financial Management, Elsevier, vol. 54(C).
    37. Geertsema, Paul & Lu, Helen, 2019. "Regulated price and Demand in China’s IPO market," Journal of Economics and Business, Elsevier, vol. 106(C).
    38. Hugh M. J. Colaco & Amedeo De Cesari & Shantaram P. Hegde, 2017. "Retail Investor Attention and IPO Valuation," European Financial Management, European Financial Management Association, vol. 23(4), pages 691-727, September.
    39. Nikolova, Stanislava & Wang, Liying & Wu, Juan (Julie), 2020. "Institutional allocations in the primary market for corporate bonds," Journal of Financial Economics, Elsevier, vol. 137(2), pages 470-490.
    40. Almeida, Vinicio de Souza e & Leal, Ricardi Pereira Câmara, 2015. "Análise experimental conjunta do comportamento do investidor em IPOs," RAE - Revista de Administração de Empresas, FGV-EAESP Escola de Administração de Empresas de São Paulo (Brazil), vol. 55(1), January.
    41. Dorsaf Ben Aissia & Narjess Skhiri Hellara, 2019. "Systematic risk, the tradeoff of leverage and IPO first-day returns," Review of Quantitative Finance and Accounting, Springer, vol. 53(1), pages 239-256, July.
    42. Eom, Chanyoung, 2018. "Institutional bidding behaviors during IPO bookbuilding: Evidence from Korea," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 413-427.
    43. Alok R. Saboo & Anindita Chakravarty & Rajdeep Grewal, 2016. "Organizational Debut on the Public Stage: Marketing Myopia and Initial Public Offerings," Marketing Science, INFORMS, vol. 35(4), pages 656-675, July.
    44. Martijn J. Assem & Nico L. Sar & Philippe Versijp, 2017. "CEOs and CFOs on IPOs: The Process and Success of Going Public," De Economist, Springer, vol. 165(4), pages 381-410, December.
    45. Sonia Falconieri & Albert Murphy & Daniel Weaver, 2009. "Underpricing and Ex Post Value Uncertainty," Financial Management, Financial Management Association International, vol. 38(2), pages 285-300, June.
    46. Rui Ding, 2016. "Disclosure of Downside Risk and Investors' Use of Qualitative Information: Evidence from the IPO Prospectus's Risk Factor Section," International Review of Finance, International Review of Finance Ltd., vol. 16(1), pages 73-126, March.
    47. Helbing, Pia, 2019. "A review on IPO withdrawal," International Review of Financial Analysis, Elsevier, vol. 62(C), pages 200-208.
    48. An, Heng (Hunter) & Chan, Kam C., 2008. "Credit ratings and IPO pricing," Journal of Corporate Finance, Elsevier, vol. 14(5), pages 584-595, December.
    49. Loughran, Tim & McDonald, Bill, 2013. "IPO first-day returns, offer price revisions, volatility, and form S-1 language," Journal of Financial Economics, Elsevier, vol. 109(2), pages 307-326.
    50. Chen, Hsuan-Chi & Shu, Pei-Gi & Chiang, Sue-Jane, 2011. "The choice between bookbuilding and fixed-price offering: Evidence from SEOs in Taiwan," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 21(1), pages 28-48, February.
    51. Hugh M.J. Colaco & Shantaram P. Hegde, 2013. "Underwriter reputation, bookbuilding and IPO duration," Chapters, in: Mario Levis & Silvio Vismara (ed.),Handbook of Research on IPOs, chapter 8, pages 159-176, Edward Elgar Publishing.
    52. Ge, Yuanjing & Guo, Haifeng & Fung, Hung-Gay & Guang, Kuncheng, 2019. "CEO effects on the IPO market under different policy regimes: Evidence from the Chinese SME board," International Review of Economics & Finance, Elsevier, vol. 63(C), pages 163-175.
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    58. Michael Willenborg & Biyu Wu & Yanhua Sunny Yang, 2015. "Issuer Operating Performance and IPO Price Formation," Journal of Accounting Research, Wiley Blackwell, vol. 53(5), pages 1109-1149, December.
    59. Feng, Xunan & Johansson, Anders C., 2016. "Judging a Book by Its Cover: Analysts and Attention-Driven Price Patterns in China’s IPO Market," Stockholm School of Economics Asia Working Paper Series 2016-39, Stockholm School of Economics, Stockholm China Economic Research Institute.
    60. Kerins, Frank & Kutsuna, Kenji & Smith, Richard, 2007. "Why are IPOs underpriced? Evidence from Japan's hybrid auction-method offerings," Journal of Financial Economics, Elsevier, vol. 85(3), pages 637-666, September.
    61. Gounopoulos, Dimitrios & Kallias, Antonios & Kallias, Konstantinos & Tzeremes, Panayiotis G., 2017. "Political money contributions of U.S. IPOs," Journal of Corporate Finance, Elsevier, vol. 43(C), pages 19-38.
    62. Avelino, Ricardo, 2013. "The underpricing of Brazilian IPOs and the adjustment to public and private information," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 67(1), April.
    63. Carsten Burhop, 2011. "The Underpricing of Initial Public Offerings at the Berlin Stock Exchange, 1870–96," German Economic Review, Verein für Socialpolitik, vol. 12(1), pages 11-32, February.
    64. Natalia Matanova & Tanja Steigner & Bingsheng Yi & Qiancheng Zheng, 2019. "Going concern opinions and IPO pricing accuracy," Review of Quantitative Finance and Accounting, Springer, vol. 53(1), pages 195-238, July.
    65. Leite, Tore, 2007. "Adverse selection, public information, and underpricing in IPOs," Journal of Corporate Finance, Elsevier, vol. 13(5), pages 813-828, December.
    66. Edmund Mantell, 2016. "A theory of underwriters’ risk management in a firm-commitment initial public offering," Review of Quantitative Finance and Accounting, Springer, vol. 46(1), pages 179-193, January.
    67. Baryla Jr., Edward A. & Borghesi, Richard A. & Dare, William H. & Dennis, Steven A., 2007. "Learning, price formation and the early season bias in the NBA," Finance Research Letters, Elsevier, vol. 4(3), pages 155-164, September.
    68. T. Clifton Green & Byoung-Hyoun Hwang, 2012. "Initial Public Offerings as Lotteries: Skewness Preference and First-Day Returns," Management Science, INFORMS, vol. 58(2), pages 432-444, February.
    69. Marc Goergen & Dimitrios Gounopoulos & Panagiotis Koutroumpis, 2019. "Do Multiple Credit Ratings Reduce Money Left on the Table? Evidence from US. IPOs," Working Papers 884, Queen Mary University of London, School of Economics and Finance.
    70. Bushee, Brian & Cedergren, Matthew & Michels, Jeremy, 2020. "Does the media help or hurt retail investors during the IPO quiet period?," Journal of Accounting and Economics, Elsevier, vol. 69(1).
    71. Seshadev Sahoo, 2015. "Subscription Rate and Volatility," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 14(1), pages 20-58, April.
    72. Kennedy, Duane B. & Sivakumar, Ranjini & Vetzal, Kenneth R., 2006. "The implications of IPO underpricing for the firm and insiders: Tests of asymmetric information theories," Journal of Empirical Finance, Elsevier, vol. 13(1), pages 49-78, January.
    73. Boeh, Kevin K. & Dunbar, Craig, 2016. "Underwriter deal pipeline and the pricing of IPOs," Journal of Financial Economics, Elsevier, vol. 120(2), pages 383-399.
    74. Qin Lian & Qiming Wang, 2009. "Does the Market Incorporate Previous IPO Withdrawals When Pricing Second‐Time IPOs?," Financial Management, Financial Management Association International, vol. 38(2), pages 357-380, June.
    75. 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.
    76. Tomas Mantecon & Paul Thistle, 2011. "The IPO market as a screening device and the going public decision: evidence from acquisitions of privately and publicly held firms," Review of Quantitative Finance and Accounting, Springer, vol. 37(3), pages 325-361, October.
    77. Ljungqvist, Alexander P., 2003. "Conflicts of Interest and Efficient Contracting in IPOs," CEPR Discussion Papers 4163, C.E.P.R. Discussion Papers.
    78. How, Janice & Lam, Jennifer & Yeo, Julian, 2007. "The use of the comparable firm approach in valuing Australian IPOs," International Review of Financial Analysis, Elsevier, vol. 16(2), pages 99-115.
    79. Ginsberg Ari & Hasan Iftekhar & Tucci Christopher L, 2011. "Unpacking the Effects of Corporate Venture Capital Investor Ties on the Reduction of Price Discounting among IPO Firms," Entrepreneurship Research Journal, De Gruyter, vol. 1(2), pages 1-29, March.
    80. O. Emre Ergungor & C. N. V. Krishnan & Ajai K. Singh & Allan A. Zebedee, 2005. "Offer-price discount of bank seasoned equity offers: do voluntary and involuntary offers convey different information?," Working Papers (Old Series) 0515, Federal Reserve Bank of Cleveland, revised 2005.
    81. Trauten, Andreas, 2004. "Zur Effizienz von Wertpapieremissionen über Internetplattformen," Working Papers 8, University of Münster, Competence Center Internet Economy and Hybrid Systems, European Research Center for Information Systems (ERCIS).
    82. Marie-Claude Beaulieu & Habiba Mrissa Bouden, 2015. "Firm-specific risk and IPO market cycles," Applied Economics, Taylor & Francis Journals, vol. 47(50), pages 5354-5377, October.

  10. Lowry, Michelle, 2003. "Why does IPO volume fluctuate so much?," Journal of Financial Economics, Elsevier, vol. 67(1), pages 3-40, January.

    Cited by:

    1. Craig Doidge & G. Andrew Karolyi & René M. Stulz, 2011. "The U.S. Left Behind: The Rise of IPO Activity Around the World," NBER Working Papers 16916, National Bureau of Economic Research, Inc.
    2. Hirshleifer, David & Jiang, Danling, 2007. "A Financing-Based Misvaluation Factor and the Cross Section of Expected Returns," MPRA Paper 20636, University Library of Munich, Germany, revised 10 Feb 2010.
    3. Das, Prashant & Füss, Roland & Hanle, Benjamin & Russ, Isabel Nina, 2020. "The cross-over effect of irrational sentiments in housing, commercial property, and stock markets," Journal of Banking & Finance, Elsevier, vol. 114(C).
    4. Doidge, Craig & Karolyi, G. Andrew & Stulz, René M., 2017. "The U.S. listing gap," Journal of Financial Economics, Elsevier, vol. 123(3), pages 464-487.
    5. Stolpe, Michael, 2004. "Non-market interaction in primary equity markets: evidence from France and Germany," Kiel Working Papers 1211, Kiel Institute for the World Economy (IfW).
    6. Fabrizio Casalin & Enzo Dia, 2009. "Financial Market Volatility and Primary Placements," Working Papers 156, University of Milano-Bicocca, Department of Economics, revised Feb 2009.
    7. Steven J. Huddart & Bin Ke, 2007. "Information Asymmetry and Cross†sectional Variation in Insider Trading," Contemporary Accounting Research, John Wiley & Sons, vol. 24(1), pages 195-232, March.
    8. Klein, Dan & Li, Mingsheng, 2009. "Factors affecting secondary share offerings in the IPO process," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(3), pages 1194-1212, August.
    9. Boyan Jovanovic & Peter L. Rousseau, 2004. "Interest Rates and Initial Public Offerings," NBER Working Papers 10298, National Bureau of Economic Research, Inc.
    10. Hale, Galina & Santos, João A.C., 2008. "The decision to first enter the public bond market: The role of firm reputation, funding choices, and bank relationships," Journal of Banking & Finance, Elsevier, vol. 32(9), pages 1928-1940, September.
    11. Boulton, Thomas J. & Smart, Scott B. & Zutter, Chad J., 2020. "Worldwide short selling regulations and IPO underpricing," Journal of Corporate Finance, Elsevier, vol. 62(C).
    12. Bellonia Antonella & Passaretti Tommaso & Visconti Raffaele, 2013. "Seasonality in Equity Rising on Stock Markets. Windows of Opportunity? Empirical Evidence from China, India, Brazil and South Africa," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 3(4), pages 1-1, August.
    13. Johann Burgstaller, 2009. "When and why do Austrian companies issue shares?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 36(3), pages 229-244, August.
    14. Dahlquist, Magnus & de Jong, Frank, 2004. "Pseudo Market Timing: Fact or Fiction?," SIFR Research Report Series 24, Institute for Financial Research.
    15. Silvia Rossetto, 2008. "The price of rapid exit in venture capital-backed IPOs," Annals of Finance, Springer, vol. 4(1), pages 29-53, January.
    16. Borisov, Alexander & Ellul, Andrew & Sevilir, Merih, 2015. "Access to Public Capital Markets and Employment Growth," CEPR Discussion Papers 10521, C.E.P.R. Discussion Papers.
    17. Lubos Pastor & Pietro Veronesi, 2003. "Stock Prices and IPO Waves," NBER Working Papers 9858, National Bureau of Economic Research, Inc.
    18. 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.
    19. Thomas J. Chemmanur & Jie He, 2012. "IPO Waves, Product Market Competition, and the Going Public Decision: Theory and Evidence," Working Papers 12-07, Center for Economic Studies, U.S. Census Bureau.
    20. René M. Stulz & Dimitrios Vagias & Mathijs A. van Dijk, 2013. "Do Firms Issue more equity when markets are more liquid?," NBER Working Papers 19229, National Bureau of Economic Research, Inc.
    21. Anh Tran & Bang Nam Jeon, 2011. "The dynamic impact of macroeconomic factors on initial public offerings: evidence from time-series analysis," Applied Economics, Taylor & Francis Journals, vol. 43(23), pages 3187-3201.
    22. Alexander Borisov & Andrew Ellul & Merih Sevilir, 2015. "Access to Public Capital Markets and Employment Growth," CSEF Working Papers 399, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    23. Stolpe, Michael, 2004. "Europe's entry into the venture capital business: efficiency and policy," Kiel Working Papers 1223, Kiel Institute for the World Economy (IfW).
    24. Bruno Cals de Oliveira & Roy Martelanc, 2014. "IPO Determinants of Brazilian Companies," Brazilian Review of Finance, Brazilian Society of Finance, vol. 12(2), pages 135-161.
    25. Ooi, Joseph T.L. & Le, Thao T.T., 2013. "The spillover effects of infill developments on local housing prices," Regional Science and Urban Economics, Elsevier, vol. 43(6), pages 850-861.
    26. Jay Ritter & Ivo Welch, 2002. "A Review of IPO Activity, Pricing, and Allocations," NBER Working Papers 8805, National Bureau of Economic Research, Inc.
    27. Jean Helwege & J. Nellie Liang, 2003. "Initial public offerings in hot and cold markets," Finance and Economics Discussion Series 2003-04, Board of Governors of the Federal Reserve System (U.S.), revised 2003.
    28. Subadar Agathee, Ushad & Brooks, Chris & Sannassee, Raja Vinesh, 2012. "Hot and cold IPO markets: The case of the Stock Exchange of Mauritius," Journal of Multinational Financial Management, Elsevier, vol. 22(4), pages 168-192.
    29. Chod, Jiri & Lyandres, Evgeny, 2011. "Strategic IPOs and product market competition," Journal of Financial Economics, Elsevier, vol. 100(1), pages 45-67, April.
    30. Muhammad Zubair Mumtaz & Zachary Alexander Smith, 2018. "IPOs in the U.S. from 2005 to 2015: Using the Spline Regression Technique to Estimate Aggregate Issuance and Performance," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 68(2), pages 165-199, April.
    31. Kwon, Sungjoung & Lowry, Michelle & Qian, Yiming, 2020. "Mutual fund investments in private firms," Journal of Financial Economics, Elsevier, vol. 136(2), pages 407-443.
    32. Giovanni Satta, 2017. "Initial public offerings in the port industry: exploring the determinants of underpricing," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(8), pages 1012-1033, November.
    33. Brailsford, Tim & Heaney, Richard & Shi, Jing, 2004. "Modelling the behaviour of the new issue market," International Review of Financial Analysis, Elsevier, vol. 13(2), pages 119-132.
    34. Silvia Rossetto, 2013. "IPO activity and information in secondary market prices," Annals of Finance, Springer, vol. 9(4), pages 667-687, November.
    35. Betermier, Sebastien & Calvet, Laurent & Jo, Evan, 2019. "A Supply and Demand Approach to Equity Pricing," CEPR Discussion Papers 13974, C.E.P.R. Discussion Papers.
    36. Trauten, Andreas & Schulz, Roland C., 2006. "IPO investment strategies and pseudo market timing," Working Papers 36, University of Münster, Competence Center Internet Economy and Hybrid Systems, European Research Center for Information Systems (ERCIS).
    37. Wang, Lanfang & Wang, Susheng, 2012. "Economic freedom and cross-border venture capital performance," Journal of Empirical Finance, Elsevier, vol. 19(1), pages 26-50.
    38. Fernandes, Nuno & Giannetti, Mariassunta, 2009. "On the Fortunes of Stock Exchanges and Their Reversals: Evidence from Foreign Listings," CEPR Discussion Papers 7308, C.E.P.R. Discussion Papers.
    39. George Zanjani, 2007. "Regulation, Capital, and the Evolution of Organizational Form in US Life Insurance," American Economic Review, American Economic Association, vol. 97(3), pages 973-983, June.
    40. Boeh, Kevin & Dunbar, Craig, 2014. "IPO waves and the issuance process," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 455-473.
    41. Carmen Cotei & Joseph Farhat, 2013. "Informational externalities of initial public offerings: Does venture capital backing matter?," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 37(1), pages 80-99, January.
    42. Ljungqvist, Alexander & Boehmer, Ekkehart, 2004. "On the decision to go public: Evidence from privately-held firms," Discussion Paper Series 1: Economic Studies 2004,16, Deutsche Bundesbank.
    43. Tomáš Meluzín, 2008. "Problems of company financing via IPO in the Czech capital market," Ekonomika a Management, University of Economics, Prague, vol. 2008(4).
    44. Drobetz, Wolfgang & Gounopoulos, Dimitrios & Merikas, Andreas & Schröder, Henning, 2013. "Capital structure decisions of globally-listed shipping companies," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 52(C), pages 49-76.
    45. Enzo Dia & Fabrizio Casalin, 2013. "Security issuance and the business cycle," Economics Bulletin, AccessEcon, vol. 33(3), pages 1751-1761.
    46. Marco Rummer & Andreas Oehler & Peter N. Smith, 2004. "IPO Pricing and the Relative Importance of Investor Sentiment: Evidence from Germany," Money Macro and Finance (MMF) Research Group Conference 2004 62, Money Macro and Finance Research Group.
    47. Vikas A. Aggarwal & David H. Hsu, 2014. "Entrepreneurial Exits and Innovation," Management Science, INFORMS, vol. 60(4), pages 867-887, April.
    48. Nguyen Thanh, Binh, 2020. "Macroeconomic uncertainty, the option to wait and IPO issue cycles," Finance Research Letters, Elsevier, vol. 32(C).
    49. Guillermo Yañez & Carlos Maquieira, 2009. "Rendimiento de Ofertas Públicas Iniciales de Acciones en Chile: Evidencia Empírica entre 1994 y 2007," Serie de Documentos de Trabajo 02, Superintendencia de Valores y Seguros.
    50. Cecilia Caglio & Kathleen Weiss Hanley & Jennifer Marietta-Westberg, 2016. "What Does It Take to List Abroad? The Role of Global Underwriters," Finance and Economics Discussion Series 2016-041, Board of Governors of the Federal Reserve System (U.S.).
    51. Adam Stivers, 2015. "Forecasting Returns with Fundamentals-Removed Investor Sentiment," International Journal of Financial Studies, MDPI, Open Access Journal, vol. 3(3), pages 1-23, July.
    52. Christian Masiak & Joern H. Block & Tobias Masiak & Matthias Neuenkirch & Katja N. Pielen, 2018. "The Market Cycles of ICOs, Bitcoin, and Ether," Research Papers in Economics 2018-04, University of Trier, Department of Economics.
    53. MATSUDA Naoko & MATSUO Yutaka, 2014. "Governing Board Interlocks and Probability of an IPO," Discussion papers 14040, Research Institute of Economy, Trade and Industry (RIETI).
    54. Robert Merrin & Arvid Hoffmann & Joost Pennings, 2013. "Customer satisfaction as a buffer against sentimental stock-price corrections," Marketing Letters, Springer, vol. 24(1), pages 13-27, March.
    55. 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.
    56. Grubisic Seba, Mihaela & Orsag, Silvije, 2015. "Corporate Motives For Public Shares Offering During The Financial Crisis," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 6(1), pages 99-114.
    57. James Ang & Carol Boyer, 2009. "Has the 1987 crash changed the psyche of the stock market?: The evidence from initial public offerings," Review of Accounting and Finance, Emerald Group Publishing, vol. 8(2), pages 138-154, May.
    58. Ulrike Malmendier, 2018. "Behavioral Corporate Finance," NBER Working Papers 25162, National Bureau of Economic Research, Inc.
    59. Fatih Macit & Ahmet Sekreter & Selver Seda Ada & Esra Simsek, 2015. "What Determines Post-IPO Market Performance: Evidence From Turkish IPOs," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 4(2), pages 73-79, June.
    60. Leite, Tore, 2007. "Adverse selection, public information, and underpricing in IPOs," Journal of Corporate Finance, Elsevier, vol. 13(5), pages 813-828, December.
    61. Lauren LoRe & Mahfuz Raihan, 2016. "Corporate Payouts, Macroeconomic Influences and Industry Effects," Applied Finance and Accounting, Redfame publishing, vol. 2(2), pages 100-112, August.
    62. Xiaoying Deng & Seow Eng Ong, 2018. "Real Earnings Management, Liquidity Risk and REITs SEO Dynamics," The Journal of Real Estate Finance and Economics, Springer, vol. 56(3), pages 410-442, April.
    63. Hirshleifer, David & Jiang, Danling, 2007. "Commonality in Misvaluation, Equity Financing, and the Cross Section of Stock Returns," MPRA Paper 16134, University Library of Munich, Germany, revised 08 Jul 2009.
    64. Tomáš Buus, 2008. "Performance of Quoted and Non-quoted Companies in the Europe," European Financial and Accounting Journal, University of Economics, Prague, vol. 2008(4), pages 45-69.
    65. Qiao, Yongyuan, 2008. "Analysis into IPO underpricing and clustering in Hong Kong equity market," MPRA Paper 7876, University Library of Munich, Germany.
    66. R. Doeswijk & H. Hemmes & R. Venekamp, 2006. "25 Years of Dutch Ipos: An Examination of Frequently Cited Ipo Anomalies Within Main Sectors and During Hot- and Cold-Issue Periods," De Economist, Springer, vol. 154(3), pages 405-427, September.
    67. Dittmar, Amy K. & Dittmar, Robert F., 2008. "The timing of financing decisions: An examination of the correlation in financing waves," Journal of Financial Economics, Elsevier, vol. 90(1), pages 59-83, October.
    68. Hu, May & Tuilautala, Mataiasi & Kang, Yuni, 2019. "Bandwagon effect: Special dividend payments," International Review of Economics & Finance, Elsevier, vol. 63(C), pages 339-363.
    69. Cecilia Caglio & Kathleen Weiss Hanley & Jennifer Marietta-Westberg, 2013. "Going public abroad," Finance and Economics Discussion Series 2013-68, Board of Governors of the Federal Reserve System (U.S.), revised 2013.
    70. Alimov, Azizjon & Mikkelson, Wayne, 2012. "Does favorable investor sentiment lead to costly decisions to go public?," Journal of Corporate Finance, Elsevier, vol. 18(3), pages 519-540.
    71. Jerry Coakley & Leon Hadass & Andrew Wood, 2008. "Hot IPOs can damage your long-run wealth!," Applied Financial Economics, Taylor & Francis Journals, vol. 18(14), pages 1111-1120.
    72. Maria Borges, 2007. "Underpricing of Initial Public Offerings: The Case of Portugal," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 13(1), pages 65-80, February.
    73. Burhop, Carsten & Chambers, David & Cheffins, Brian, 2014. "Regulating IPOs: Evidence from going public in London, 1900–1913," Explorations in Economic History, Elsevier, vol. 51(C), pages 60-76.
    74. Doidge, Craig & Karolyi, G. Andrew & Stulz, René M., 2013. "The U.S. left behind? Financial globalization and the rise of IPOs outside the U.S," Journal of Financial Economics, Elsevier, vol. 110(3), pages 546-573.
    75. Marie-Claude Beaulieu & Habiba Mrissa Bouden, 2015. "Firm-specific risk and IPO market cycles," Applied Economics, Taylor & Francis Journals, vol. 47(50), pages 5354-5377, October.

  11. Lowry, Michelle & Shu, Susan, 2002. "Litigation risk and IPO underpricing," Journal of Financial Economics, Elsevier, vol. 65(3), pages 309-335, September.

    Cited by:

    1. Paul G. Mahoney, 2009. "The Development of Securities Law in the United States," Journal of Accounting Research, Wiley Blackwell, vol. 47(2), pages 325-347, May.
    2. Chong, Beng Soon & Liu, Zhenbin, 2020. "Issuer IPO underpricing and Directed Share Program (DSP)," Journal of Empirical Finance, Elsevier, vol. 56(C), pages 105-125.
    3. Liu, Xiaoding & Ritter, Jay R., 2011. "Local underwriter oligopolies and IPO underpricing," Journal of Financial Economics, Elsevier, vol. 102(3), pages 579-601.
    4. Hanley, Kathleen Weiss & Hoberg, Gerard, 2012. "Litigation risk, strategic disclosure and the underpricing of initial public offerings," Journal of Financial Economics, Elsevier, vol. 103(2), pages 235-254.
    5. Lee, Gemma & Masulis, Ronald W., 2009. "Seasoned equity offerings: Quality of accounting information and expected flotation costs," Journal of Financial Economics, Elsevier, vol. 92(3), pages 443-469, June.
    6. Christopher Armstrong & George Foster & Daniel Taylor, 2016. "Abnormal Accruals in Newly Public Companies: Opportunistic Misreporting or Economic Activity?," Management Science, INFORMS, vol. 62(5), pages 1316-1338, May.
    7. Lauren Cohen & Umit Gurun & Scott Duke Kominers, 2014. "Patent Trolls: Evidence from Targeted Firms," NBER Working Papers 20322, National Bureau of Economic Research, Inc.
    8. Lu, Zhengfei & Zhu, Jigao & Zhang, Weining, 2012. "Bank discrimination, holding bank ownership, and economic consequences: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 36(2), pages 341-354.
    9. Kenneth A. Carow & Steven R. Cox & Dianne M. Roden, 2007. "The Role of Insider Influence in Mutual‐to‐Stock Conversions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(6), pages 1285-1304, September.
    10. James Malm & Srinidhi Kanuri, 2017. "Litigation risk and cash holdings," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 41(4), pages 679-700, October.
    11. Pawel Perz, 2017. "The Activity of Family Businesses and the Phenomenon of Underpricing of Their Shares in IPOs in Poland in the Years 2013–2015 (Aktywnosc firm rodzinnych i zjawisko niedowartosciowania ich akcji w pier," Research Reports, University of Warsaw, Faculty of Management, vol. 1(23), pages 153-161.
    12. Alok R. Saboo & Rajdeep Grewal, 2013. "Stock Market Reactions to Customer and Competitor Orientations: The Case of Initial Public Offerings," Marketing Science, INFORMS, vol. 32(1), pages 70-88, October.
    13. M. Martin Boyer, 2003. "Directors' and Officers' Insurance and Shareholders' Protection," CIRANO Working Papers 2003s-64, CIRANO.
    14. Chen-Lung Chin & Picheng Lee & Gary Kleinman & Pei-Yu Chen, 2006. "IPO anomalies and innovation capital," Review of Quantitative Finance and Accounting, Springer, vol. 27(1), pages 67-91, August.
    15. Hao, (Grace) Qing, 2011. "Securities litigation, withdrawal risk and initial public offerings," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 438-456, June.
    16. Andrew J. Leone & Steve Rock & Michael Willenborg, 2007. "Disclosure of Intended Use of Proceeds and Underpricing in Initial Public Offerings," Journal of Accounting Research, Wiley Blackwell, vol. 45(1), pages 111-153, March.
    17. Jay Ritter & Ivo Welch, 2002. "A Review of IPO Activity, Pricing, and Allocations," NBER Working Papers 8805, National Bureau of Economic Research, Inc.
    18. Bing Li & Zhenbin Liu, 2017. "The oversight role of regulators: evidence from SEC comment letters in the IPO process," Review of Accounting Studies, Springer, vol. 22(3), pages 1229-1260, September.
    19. Huang, Wei & Li, Jinxian & Zhang, Qiang, 2019. "Information asymmetry, legal environment, and family firm governance: Evidence from IPO underpricing in China," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
    20. Cheng Lu & Lanfeng Kao & Anlin Chen, 2012. "The effects of R&D, venture capital, and technology on the underpricing of IPOs in Taiwan," Review of Quantitative Finance and Accounting, Springer, vol. 39(4), pages 423-445, November.
    21. 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.
    22. Colonnello, Stefano & Herpfer, Christoph, 2018. "Do courts matter for firm value? Evidence from the U.S. court system," IWH Discussion Papers 1/2016, Halle Institute for Economic Research (IWH).
    23. Hui Guo & Xiaowen Jiang, 2011. "Accruals and the Conditional Equity Premium," Journal of Accounting Research, Wiley Blackwell, vol. 49(1), pages 187-221, March.
    24. Mäschle, Oliver & Dalvai, Wilfried, 2016. "Rationing and screening in crowdinvesting-markets," Thuenen-Series of Applied Economic Theory 142, University of Rostock, Institute of Economics.
    25. Geertsema, Paul & Lu, Helen, 2019. "Regulated price and Demand in China’s IPO market," Journal of Economics and Business, Elsevier, vol. 106(C).
    26. Giovanni Satta, 2017. "Initial public offerings in the port industry: exploring the determinants of underpricing," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(8), pages 1012-1033, November.
    27. Laux, Volker & Stocken, Phillip C., 2012. "Managerial reporting, overoptimism, and litigation risk," Journal of Accounting and Economics, Elsevier, vol. 53(3), pages 577-591.
    28. Lin, Chen & Officer, Micah S. & Schmid, Thomas & Zou, Hong, 2019. "Is skin in the game a game changer? Evidence from mandatory changes of D&O insurance policies," Journal of Accounting and Economics, Elsevier, vol. 68(1).
    29. Loughran, Tim & McDonald, Bill, 2013. "IPO first-day returns, offer price revisions, volatility, and form S-1 language," Journal of Financial Economics, Elsevier, vol. 109(2), pages 307-326.
    30. Tan, Hun-Tong & Wang, Elaine Ying & Yoo, G-Song, 2019. "Who likes jargon? The joint effect of jargon type and industry knowledge on investors’ judgments," Journal of Accounting and Economics, Elsevier, vol. 67(2), pages 416-437.
    31. Riccardo Ferretti & Antonio Meles, 2011. "Underpricing, wealth loss for pre-existing shareholders and the cost of going public: the role of private equity backing in Italian IPOs," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 0026, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
    32. Jones, Travis L. & Ligon, James A., 2009. "The day of the week effect in IPO initial returns," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(1), pages 110-127, February.
    33. Sugata Roychowdhury & Suraj Srinivasan, 2019. "The Role of Gatekeepers in Capital Markets," Journal of Accounting Research, Wiley Blackwell, vol. 57(2), pages 295-322, May.
    34. Chang Xu, 2017. "Dose Underwriter Credit and its Guiding Function Have Impact on IPO Break in China?," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(5), pages 36-43, May.
    35. Lin, Chen & Officer, Micah S. & Wang, Rui & Zou, Hong, 2013. "Directors' and officers' liability insurance and loan spreads," Journal of Financial Economics, Elsevier, vol. 110(1), pages 37-60.
    36. Mantecon, Tomas, 2008. "An analysis of the implications of uncertainty and agency problems on the wealth effects to acquirers of private firms," Journal of Banking & Finance, Elsevier, vol. 32(5), pages 892-905, May.
    37. Kim, Irene & Skinner, Douglas J., 2012. "Measuring securities litigation risk," Journal of Accounting and Economics, Elsevier, vol. 53(1), pages 290-310.
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