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Citations for " Myth or Reality? The Long-Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital-Backed Companies"

by Brav, Alon & Gompers, Paul A

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  1. Dahlquist, Magnus & de Jong, Frank, 2004. "Pseudo Market Timing: Fact or Fiction?," CEPR Discussion Papers 4609, C.E.P.R. Discussion Papers.
  2. Hamao, Yasushi & Packer, Frank & Ritter, Jay R., 2000. "Institutional affiliation and the role of venture capital: Evidence from initial public offerings in Japan," Pacific-Basin Finance Journal, Elsevier, vol. 8(5), pages 529-558, October.
  3. Chan, Pak To & Moshirian, Fariborz & Ng, David & Wu, Eliza, 2007. "The underperformance of the growth enterprise market in Hong Kong," Research in International Business and Finance, Elsevier, vol. 21(3), pages 428-446, September.
  4. Xiaoqing Eleanor Xu, 2002. "Venture Capital Finance in China," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 7(1), pages 11-22, Spring.
  5. Chitru S. Fernando & Srinivasan Krishnamurthy & Paul A. Spindt, 2002. "Is the Offer Price in IPOs Informative? Underpricing, Ownership Structure, and Performance," Center for Financial Institutions Working Papers 01-33, Wharton School Center for Financial Institutions, University of Pennsylvania.
  6. Leslie A. Jeng & Andrew Metrick & Richard Zeckhauser, . "Estimating the Returns to Insider Trading," Rodney L. White Center for Financial Research Working Papers 19-99, Wharton School Rodney L. White Center for Financial Research.
  7. Brav, Alon & Geczy, Christopher & Gompers, Paul A., 2000. "Is the abnormal return following equity issuances anomalous?," Journal of Financial Economics, Elsevier, vol. 56(2), pages 209-249, May.
  8. Malcolm Baker & C. Fritz Foley & Jeffrey Wurgler, 2004. "The Stock Market and Investment: Evidence from FDI Flows," NBER Working Papers 10559, National Bureau of Economic Research, Inc.
  9. Sanjai Bhagat & Roberta Romano, 2001. "Event Studies and the Law - Part I: Technique and Corporate Litigation," Yale School of Management Working Papers amz2475, Yale School of Management, revised 01 Jan 2002.
  10. Andrea Schertler, 2002. "Under What Conditions Do Venture Capital Markets Emerge?," Kiel Working Papers 1119, Kiel Institute for the World Economy.
  11. Henry Chen & Paul Gompers & Anna Kovner & Josh Lerner, 2009. "Buy Local? The Geography of Successful and Unsuccessful Venture Capital Expansion," NBER Working Papers 15102, National Bureau of Economic Research, Inc.
  12. Daniel Hoechle & Heinz Zimmermann, 2007. "A Generalization of the Calendar Time Portfolio Approach and the Performance of Private Investors," Working papers 2007/14, Faculty of Business and Economics - University of Basel.
  13. Cécile Carpentier & Jean-Marc Suret, 2004. "Bypassing the Financial Growth Cycle: Evidence from Capital Pool Companies," CIRANO Working Papers 2004s-48, CIRANO.
  14. 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.
  15. David J. Brophy & Paige P. Ouimet & Clemens Sialm, 2004. "PIPE Dreams? The Performance of Companies Issuing Equity Privately," NBER Working Papers 11011, National Bureau of Economic Research, Inc.
  16. Hussein, Khaled A., 2004. "Ethical Investment: Empirical Evidence From Ftse Islamic Index," Journal of Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 12, pages 22-40.
  17. Paul Gompers & Josh Lerner, 2000. "The Determinants of Corporate Venture Capital Success: Organizational Structure, Incentives, and Complementarities," NBER Chapters, in: Concentrated Corporate Ownership, pages 17-54 National Bureau of Economic Research, Inc.
  18. Andrea Schertler, 2005. "European venture capital markets: fund providers and investment characteristics," Applied Financial Economics, Taylor & Francis Journals, vol. 15(6), pages 367-380.
  19. Colombelli, Alessandra, 2014. "The Impact of Top Management Team Characteristics on Firms Growth," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201428, University of Turin.
  20. Lamont, Owen & Polk, Christopher & Saa-Requejo, Jesus, 2001. "Financial Constraints and Stock Returns," Review of Financial Studies, Society for Financial Studies, vol. 14(2), pages 529-54.
  21. Chen, Sheng-Syan & Ho, Kim Wai & Huang, Chia-Wei & Wang, Yanzhi, 2013. "Buyback behavior of initial public offering firms," Journal of Banking & Finance, Elsevier, vol. 37(1), pages 32-42.
  22. Lily Qiu & Gerard Hoberg, 2006. "Growth to Value: A Difficult Journey for IPOs and Concentrated Industries," Working Papers 2005-17, Brown University, Department of Economics.
  23. Nicholas Barberis & Richard Thaler, 2002. "A Survey of Behavioral Finance," NBER Working Papers 9222, National Bureau of Economic Research, Inc.
  24. James C. Brau & Jerome S. Osteryoung, 2001. "An Empirical Examination of SBA Guaranteed Loans: Rates, Collateral, Agency Costs, and the Time to Obtain the Loan," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 6(1), pages 1-23 , Spring.
  25. James A. Brander & Edward Egan & Thomas F. Hellmann, 2008. "Government Sponsored versus Private Venture Capital: Canadian Evidence," NBER Working Papers 14029, National Bureau of Economic Research, Inc.
  26. Sanjai Bhagat & Roberta Romano, . "Event Studies and the Law--Part I: Technique and Corporate Litigation," Yale Law School John M. Olin Center for Studies in Law, Economics, and Public Policy Working Paper Series yale_lepp-1021, Yale Law School John M. Olin Center for Studies in Law, Economics, and Public Policy.
  27. Josef Anton Schuster, 2003. "The cross-section of European IPO returns," LSE Research Online Documents on Economics 24859, London School of Economics and Political Science, LSE Library.
  28. Minardi, Andrea Maria Accioly Fonseca & Ferrari, Guilherme Lopes & AraújoTavares, Pedro Carvalho, 2013. "Performances of Brazilian IPOs backed by private equity," Journal of Business Research, Elsevier, vol. 66(3), pages 448-455.
  29. 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.
  30. Zeidler, Felix & Mietzner, Mark & Schiereck, Dirk, 2012. "Risk dynamics surrounding the issuance of convertible bonds," Journal of Corporate Finance, Elsevier, vol. 18(2), pages 273-290.
  31. Gompers, Paul & Lerner, Josh, 1999. "Conflict of Interest in the Issuance of Public Securities: Evidence from Venture Capital," Journal of Law and Economics, University of Chicago Press, vol. 42(1), pages 1-28, April.
  32. Bengi Ertuna & Metin Ercan & Vedat Akgiray, 2003. "The Effect of the Issuer-Underwriter Relationship on IPOs: The Case of an Emerging Market," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 8(3), pages 43-55 , Fall.
  33. Brau, James C. & Rodríguez, Javier, 2009. "An empirical analysis of Mexican and US closed-end mutual fund IPOs," Research in International Business and Finance, Elsevier, vol. 23(1), pages 1-17, January.
  34. James R. Brown, 2005. "Venture Capital and Firm Performance Over the Long-Run: Evidence from High-Tech IPOs in the United States," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 10(3), pages 1-33, Fall.
  35. Eckbo, B. Espen & Norli, Oyvind, 2005. "Liquidity risk, leverage and long-run IPO returns," Journal of Corporate Finance, Elsevier, vol. 11(1-2), pages 1-35, March.
  36. 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.).
  37. Sophie Pommet, 2013. "The Impact of Venture Capital Investment Duration on the Survival of French IPOs," GREDEG Working Papers 2013-32, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.
  38. Manju Puri & Rebecca Zarutskie, 2008. "On the Lifecycle Dynamics of Venture-Capital- and Non-Venture-Capital-Financed Firms," Working Papers 08-13, Center for Economic Studies, U.S. Census Bureau.
  39. Elitzur, Ramy & Gavious, Arieh, 2003. "A multi-period game theoretic model of venture capitalists and entrepreneurs," European Journal of Operational Research, Elsevier, vol. 144(2), pages 440-453, January.
  40. Joly, Vanessa, 2010. "The Effects of Private Equity-Backing in the European Acquisitions of Unlisted Companies," Economics Papers from University Paris Dauphine 123456789/5889, Paris Dauphine University.
  41. Elisabete Gomes Santana Felix & Cesaltina Pires & Mohamed Azzim Gulamhussenb, 2007. "The Determinants of Venture Capital in Europe - Evidence Across Countries," CEFAGE-UE Working Papers 2007_01, University of Evora, CEFAGE-UE (Portugal).
  42. Paul A. Gompers & Andrew Metrick, . "Institutional Investors and Equity Prices," Rodney L. White Center for Financial Research Working Papers 20-99, Wharton School Rodney L. White Center for Financial Research.
  43. Rosenbusch, Nina & Brinckmann, Jan & Müller, Verena, 2013. "Does acquiring venture capital pay off for the funded firms? A meta-analysis on the relationship between venture capital investment and funded firm financial performance," Journal of Business Venturing, Elsevier, vol. 28(3), pages 335-353.
  44. Chahine, Salim & Goergen, Marc, 2013. "The effects of management-board ties on IPO performance," Journal of Corporate Finance, Elsevier, vol. 21(C), pages 153-179.
  45. Espenlaub, S. & Goergen, M. & Khurshed, A. & Renneboog, L.D.R., 2002. "Lock-In Agreements in Venture Capital Backed UK IPOs," Discussion Paper 2002-46, Tilburg University, Center for Economic Research.
  46. Gajewski, Jean-François & Gresse, Carole, 2006. "A Survey of the European IPO Market," ECMI Papers 1207, Centre for European Policy Studies.
  47. Xiaoqing Eleanor Xu, 2006. "Venture-backed IPOs and the Exiting of Venture Capital in China," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 11(3), pages 39-56, Fall.
  48. Andrea Schertler, 2000. "Venture Capital Contracts: A survey of the recent literature," Kiel Working Papers 1017, Kiel Institute for the World Economy.
  49. Zhi Da & Ravi Jagannathan & Jianfeng Shen, 2012. "Building Castles in the Air: Evidence from Industry IPO Waves," NBER Working Papers 18555, National Bureau of Economic Research, Inc.
  50. Marra, T.A. & Suijs, J.P.M., 2000. "Going-Public and the Influence of Disclosure Environment," Discussion Paper 2000-15, Tilburg University, Center for Economic Research.
  51. Baker, Malcolm & Stein, Jeremy C., 2004. "Market liquidity as a sentiment indicator," Journal of Financial Markets, Elsevier, vol. 7(3), pages 271-299, June.
  52. Xiaoqing Eleanor Xu, 2004. "A Comparative Study of Venture Capital Performance in the US and Europe," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 9(3), pages 61-76, Fall.
  53. Sun, Yue & Uchida, Konari & Matsumoto, Mamoru, 2013. "The dark side of independent venture capitalists: Evidence from Japan," Pacific-Basin Finance Journal, Elsevier, vol. 24(C), pages 279-300.
  54. Owen A. Lamont, 2002. "Evaluating Value Weighting: Corporate Events and Market Timing," NBER Working Papers 9049, National Bureau of Economic Research, Inc.
  55. Ali-Yrkkö, Jyrki & Hyytinen, Ari & Liukkonen, Johanna, 2001. "Exiting Venture Capital Investments: Lessons from Finland," Discussion Papers 781, The Research Institute of the Finnish Economy.
  56. Sophie Pommet, 2013. "The impact of venture capital investment duration on the survival of French IPOs," Working Papers halshs-00923957, HAL.
  57. Feng, Xunan & Johansson, Anders C. & Zhang, Tianyu, 2014. "Political participation and entrepreneurial initial public offerings in China," Journal of Comparative Economics, Elsevier, vol. 42(2), pages 269-285.
  58. Otchere, Isaac & Owusu-Antwi, George & Mohsni, Sana, 2013. "Why are stock exchange IPOs so underpriced and yet outperform in the long run?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 27(C), pages 76-98.
  59. Andrea Schertler, 2001. "Venture Capital in Europe's Common Market: A Quantitative Description," Kiel Working Papers 1087, Kiel Institute for the World Economy.
  60. Pons-Sanz, Vicente, 2005. "Who benefits from IPO underpricing? Evidence form hybrid bookbuilding offerings," Working Paper Series 0428, European Central Bank.
  61. Maher Kooli & Jean-Marc Suret, 2001. "The Underpricing of Initial Public Offerings: Further Canadian Evidence," CIRANO Working Papers 2001s-50, CIRANO.
  62. Kovner, Anna, 2012. "Do underwriters matter? The impact of the near failure of an equity underwriter," Journal of Financial Intermediation, Elsevier, vol. 21(3), pages 507-529.
  63. Plotnicki, Michal & Szyszka, Adam, 2014. "IPO market timing. The evidence of the disposition effect among corporate managers," Global Finance Journal, Elsevier, vol. 25(1), pages 48-55.
  64. Mouri, Nacef & Sarkar, M.B. & Frye, Melissa, 2012. "Alliance portfolios and shareholder value in post-IPO firms: The moderating roles of portfolio structure and firm-level uncertainty," Journal of Business Venturing, Elsevier, vol. 27(3), pages 355-371.
  65. Wai-yan Cheng & Yan-leung Cheung & Yuen-ching Tse, 2005. "The Impact on IPO Performance of More Stringent Listing Rules with a Pre-listing Earnings Requirement: Evidence from Hong Kong," Working Papers 172005, Hong Kong Institute for Monetary Research.
  66. Roslily Ramlee & Ruhani Ali, 2012. "Liquidity, Initial Public Offering (IPO) Long-Term Return and Government Ownership Evidence from Bursa Malaysia IPO Stocks," Asian Academy of Management Journal of Accounting and Finance, Penerbit Universiti Sains Malaysia, vol. 8(Supp. 1), pages 39-66.
  67. Andrea Schertler, 2002. "Venture Capitalists Investment Incentives Under Public Equity Schemes," Kiel Working Papers 1117, Kiel Institute for the World Economy.
  68. Paul A. Gompers & Josh Lerner, 1999. "What Drives Venture Capital Fundraising?," NBER Working Papers 6906, National Bureau of Economic Research, Inc.
  69. Paul A. Gompers & Josh Lerner, 2001. "The Really Long-Run Performance of Initial Public Offerings: The Pre-NASDAQ Evidence," NBER Working Papers 8505, National Bureau of Economic Research, Inc.
  70. Rin, Marco Da & Hellmann, Thomas & Puri, Manju, 2013. "A Survey of Venture Capital Research," Handbook of the Economics of Finance, Elsevier.
  71. Benson, David F. & Brau, James C. & Cicon, James & Ferris, Stephen P., 2015. "Strategically camouflaged corporate governance in IPOs: Entrepreneurial masking and impression management," Journal of Business Venturing, Elsevier, vol. 30(6), pages 839-864.
  72. Gresse, Carole & Gajewski, Jean-François, 2006. "A Survey of the European IPO Market," Economics Papers from University Paris Dauphine 123456789/8670, Paris Dauphine University.
  73. Datta, Sudip & Gruskin, Mark & Iskandar-Datta, Mai, 2015. "On post-IPO stock price performance: A comparative analysis of RLBOs and IPOs," Journal of Banking & Finance, Elsevier, vol. 55(C), pages 187-203.
  74. Liu, Wei & Kolari, James W. & Kyle Tippens, T. & Fraser, Donald R., 2013. "Did capital infusions enhance bank recovery from the great recession?," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 5048-5061.
  75. Jakobsen, Jan & Sørensen, Ole, 1999. "Decomposing and testing Long-run Returns with an application to initial public offerings in Denmark," Working Papers 2000-2, Copenhagen Business School, Department of Finance.
  76. Luca Benzoni & Carola Schenone, 2007. "Conflict of interest and certification in the U.S. IPO market," Working Paper Series WP-07-09, Federal Reserve Bank of Chicago.
  77. Xiang Liu, 2014. "Venture capitalists and portfolio companies’ real activities manipulation," Review of Quantitative Finance and Accounting, Springer, vol. 43(1), pages 173-210, July.
  78. Marco Arnone & Umberto Giacometti, 2004. "Crescita, Innovazione Tecnologica e Mercato dei Capitali: il Ruolo del Venture Capital," Finance 0404008, EconWPA.
  79. Sahaym, Arvin & Cho, Sam Yul & Kim, Sang Kyun & Mousa, Fariss-Terry, 2016. "Mixed blessings: How top management team heterogeneity and governance structure influence the use of corporate venture capital by post-IPO firms," Journal of Business Research, Elsevier, vol. 69(3), pages 1208-1218.
  80. Maher Kooli & Jean-François L'Her & Jean-Marc Suret, 2003. "Do IPOs Underperform in the Long-Run? New Evidence from the Canadian Stock Market," CIRANO Working Papers 2003s-16, CIRANO.
  81. Lubos Pastor & Lucian Taylor & Pietro Veronesi, 2006. "Entrepreneurial Learning, the IPO Decision, and the Post-IPO Drop in Firm Profitability," NBER Working Papers 12792, National Bureau of Economic Research, Inc.
  82. Gonul Colak, 2012. "IPO characteristics of index firms," Managerial Finance, Emerald Group Publishing, vol. 38(12), pages 1134-1159.
  83. Andrea Schertler, 2000. "The Impact of Public Subsidies on Venture Capital Investments in Start-Up Enterprises," Kiel Working Papers 1018, Kiel Institute for the World Economy.
  84. MIYAKAWA Daisuke & TAKIZAWA Miho, 2013. "Performance of Newly Listed Firms: Evidence from Japanese firm and venture capital data," Discussion papers 13019, Research Institute of Economy, Trade and Industry (RIETI).
  85. Sergey Chernenko & C. Fritz Foley & Robin Greenwood, 2010. "Agency Costs, Mispricing, and Ownership Structure," NBER Working Papers 15910, National Bureau of Economic Research, Inc.
  86. Leslie A. Jeng & Andrew Metrick & Richard Zeckhauser, 1999. "The Profits to Insider Trading: A Performance-Evaluation Perspective," NBER Working Papers 6913, National Bureau of Economic Research, Inc.
  87. Beaver, William H. & McNichols, Maureen F. & Nelson, Karen K., 2000. "Do Firms Issuing Equity Manage their Earnings? Evidence from the Property-Casualty Insurance Industry," Research Papers 1605, Stanford University, Graduate School of Business.
  88. Feng, Xunan & Johansson, Anders C., 2015. "Can mutual funds pick stocks in China? Evidence from the IPO market," Journal of Banking & Finance, Elsevier, vol. 55(C), pages 170-186.
  89. Maher Kooli & Jean-Marc Suret, 2001. "The Aftermarket Performance of Initial Public Offerings in Canada," CIRANO Working Papers 2001s-52, CIRANO.
  90. Schwert, G. William, 2003. "Anomalies and market efficiency," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 15, pages 939-974 Elsevier.
  91. Easley, David & Hendershott, Terrence & Ramadorai, Tarun, 2014. "Leveling the trading field," Journal of Financial Markets, Elsevier, vol. 17(C), pages 65-93.
  92. Mark Schaub, 2012. "International equities listed on the New York stock exchange: does type of issue or date of issue matter?," Financial Markets and Portfolio Management, Springer, vol. 26(4), pages 429-447, December.
  93. Moshirian, Fariborz & Ng, David & Wu, Eliza, 2010. "Model specification and IPO performance: New insights from Asia," Research in International Business and Finance, Elsevier, vol. 24(1), pages 62-74, January.
  94. José Emilio Farinós, 2001. "Rendimientos anormales de las OPV en España," Investigaciones Economicas, Fundación SEPI, vol. 25(2), pages 417-437, May.
  95. Cécile Carpentier & Jean-François L'Her & Jean-Marc Suret, 2008. "Stock Exchange Markets for New Ventures," CIRANO Working Papers 2008s-12, CIRANO.
  96. Ramazan Aktas & Mehmet Baha Karan & Kürsat Aydogan, 2003. "Forecasting Short Run Performance of Initial Public Offerings in the Istanbul Stock Exchange," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 8(1), pages 69-85, Spring.
  97. Laura Bottazzi & Marco da Rin, 2003. "Financing Entrepreneurial Firms in Europe: Facts, Issues, and Research Agenda," CESifo Working Paper Series 958, CESifo Group Munich.
  98. Elisabete Gomes Santana Félix & José Paulo Esperança & Mohamed Azzim Gulamhussen & Cesaltina Pacheco Pires, 2009. "An analysis of the Portuguese venture capital market: partial exits versus total exits," Portuguese Journal of Management Studies, ISEG, Universidade de Lisboa, vol. 0(3), pages 239-258.
  99. International Monetary Fund, 2007. "IPO Behavior in GCC Countries: Goody-Two Shoes or Bad-to-the-Bone?," IMF Working Papers 07/149, International Monetary Fund.
  100. Carmen Cotei & Joseph Farhat, 2013. "Informational externalities of initial public offerings: Does venture capital backing matter?," Journal of Economics and Finance, Springer, vol. 37(1), pages 80-99, January.
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