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The Effect of the Secondary Market on the Pricing of Initial Public Offerings: Theory and Evidence

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  1. Riccardo Ferretti & Antonio Meles, 2010. "Underpricing, wealth loss for pre-existing shareholders and the cost of going public: the role of private equity backing in Italian IPOs," Venture Capital, Taylor & Francis Journals, vol. 13(1), pages 23-47, September.
  2. Wu, Congsheng, 2005. "The pricing of global versus domestic seasoned equity offers," Journal of Multinational Financial Management, Elsevier, vol. 15(1), pages 31-49, February.
  3. Qiao, Yongyuan, 2008. "Analysis into IPO underpricing and clustering in Hong Kong equity market," MPRA Paper 7876, University Library of Munich, Germany.
  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. Cheung, Yan-leung & OUYANG, Zhiwei & TAN, Weiqiang, 2009. "How regulatory changes affect IPO underpricing in China," China Economic Review, Elsevier, vol. 20(4), pages 692-702, December.
  6. Hsuan-Chi Chen & Keng-Yu Ho & Yu-Jen Hsiao & Cheng-Huan Wu, 2010. "The Diversification Effects of Initial Public Offerings," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 37(1-2), pages 171-205.
  7. Qi Quan & Nancy Huyghebaert, 2005. "Share Issuing Privatizations in China: Determinants of Public Share Allocation and Underpricing," LICOS Discussion Papers 16205, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
  8. Cao, Melanie & Shi, Shouyong, 2006. "Signaling in the Internet craze of initial public offerings," Journal of Corporate Finance, Elsevier, vol. 12(4), pages 818-833, September.
  9. Priyanka Singh & Brajesh Kumar, 2012. "Short Run and Long Run Dynamics of Initial Public Offerings: Evidence from India," Jindal Journal of Business Research, , vol. 1(1), pages 87-113, June.
  10. Richard J. Kish & Nandkumar Nayar & Wenlong Weng, 2012. "IPO pricing: a case of short-sale restrictions and divergent expectations," Quantitative Finance, Taylor & Francis Journals, vol. 12(9), pages 1439-1451, November.
  11. Mauer, David C. & Wang, Song & Wang, Xiao & Zhang, Yilei, 2015. "Global diversification and IPO returns," Journal of Banking & Finance, Elsevier, vol. 58(C), pages 436-456.
  12. Ravi Kiran, 2011. "Price Performance of IPOS in Indian Stock Market," EuroEconomica, Danubius University of Galati, issue 30, pages 73-97, November.
  13. Cheung, Yan-Leung & Liu, Yang, 2007. "IPO price performance and block-trading activities: Evidence from Hong Kong," Pacific-Basin Finance Journal, Elsevier, vol. 15(3), pages 276-291, June.
  14. Hsuan‐Chi Chen & Keng‐Yu Ho & Yu‐Jen Hsiao & Cheng‐Huan Wu, 2010. "The Diversification Effects of Initial Public Offerings," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 37(1‐2), pages 171-205, January.
  15. Hahl, Teemu & Vähämaa, Sami & Äijö, Janne, 2014. "Value versus growth in IPOs: New evidence from Finland," Research in International Business and Finance, Elsevier, vol. 31(C), pages 17-31.
  16. Alles, Lakshman & Murray, Louis, 2023. "Under-pricing of South and East Asian IPOs: An investigation of the relevance of governance quality in closely controlled companies," Journal of Economics and Business, Elsevier, vol. 123(C).
  17. Ravi Lonkani & Michael Firth, 2005. "The accuracy of IPO earnings forecasts in Thailand and their relationships with stock market valuation," Accounting and Business Research, Taylor & Francis Journals, vol. 35(3), pages 269-286.
  18. Catherine M. Daily & S. Trevis Certo & Dan R. Dalton & Rungpen Roengpitya, 2003. "IPO Underpricing: A Meta–Analysis and Research Synthesis," Entrepreneurship Theory and Practice, , vol. 27(3), pages 271-295, July.
  19. Yeoman, John C., 2001. "The optimal spread and offering price for underwritten securities," Journal of Financial Economics, Elsevier, vol. 62(1), pages 169-198, October.
  20. Diwan, Ishac & Errunza, Vihang & Senbet, Lemma W., 1992. "The pricing of country funds and their role in capital mobilization for emerging economies," Policy Research Working Paper Series 1058, The World Bank.
  21. Natalia Diniz-Maganini & Abdul A. Rasheed & Mahmut Yaşar & Hsia Hua Sheng, 2023. "Cross-listing and price efficiency: An institutional explanation," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(2), pages 233-257, March.
  22. Wolfgang Bessler & Stefan Thies, 2006. "Initial Public Offerings, Subsequent Seasoned Equity Offerings, and Long-Run Performance: Evidence from IPOs in Germany," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 11(3), pages 1-37, Fall.
  23. Diwan, Ishac & Errunza, Vihang & Senbet, Lemma W., 1993. "Empirical perspectives on national index funds," Policy Research Working Paper Series 1206, The World Bank.
  24. Nader Naifar, 2011. "Explaining IPOs Underpricing in the Tunisian Market," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 10(3), pages 311-336, December.
  25. Chen, Chao & Shi, Haina & Xu, Haoping, 2014. "The IPO underwriting market share in China: Do ownership and quality matter?," Journal of Banking & Finance, Elsevier, vol. 46(C), pages 177-189.
  26. Malik Muhammad Shehr Yar & Attiya Yasmin Javid, 2014. "Liquidity Benefits From Underpricing: Evidence from Initial Public Offerings Listed at Karachi Stock Exchange," PIDE-Working Papers 2014:101, Pakistan Institute of Development Economics.
  27. Kanagaretnam, Kiridaran & Lee, Jimmy & Lim, Chee Yeow & Lobo, Gerald J., 2022. "Trusting the stock market: Further evidence from IPOs around the world," Journal of Banking & Finance, Elsevier, vol. 142(C).
  28. Chourou, Lamia & Saadi, Samir & Zhu, Hui, 2018. "How does national culture influence IPO underpricing?," Pacific-Basin Finance Journal, Elsevier, vol. 51(C), pages 318-341.
  29. Dunbar, Craig G., 2000. "Factors affecting investment bank initial public offering market share," Journal of Financial Economics, Elsevier, vol. 55(1), pages 3-41, January.
  30. Riccardo Ferretti & Antonio Meles, 2010. "Underpricing, wealth loss for pre-existing shareholders and the cost of going public: the role of private equity backing in Italian IPOs," Venture Capital, Taylor & Francis Journals, vol. 13(1), pages 23-47, September.
  31. Kristine Watson Hankins & Mark J. Flannery & M. Nimalendran, 2008. "The Effect of Fiduciary Standards on Institutions' Preference for Dividend‐Paying Stocks," Financial Management, Financial Management Association International, vol. 37(4), pages 647-671, December.
  32. Ning Gong & Chander Shekhar, 2001. "Underpricing of Privatised IPOs: The Australian Experience," Australian Journal of Management, Australian School of Business, vol. 26(2), pages 91-106, December.
  33. Adjasi, Charles K.D. & Osei, Kofi A. & Fiawoyife, Eme U., 2011. "Explaining underpricing of IPOs in frontier markets: Evidence from the Nigeria Stock Exchange," Research in International Business and Finance, Elsevier, vol. 25(3), pages 255-265, September.
  34. Adam Zaremba & Radoslaw Zmudzinski, 2014. "IPO Initial Underpricing Anomaly: the Election Gimmick Hypothesis," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 3(2), pages 167-181.
  35. Patrick Sentis, 2009. "Merging Activity as a Rational Explanation for the Long-Run Underperformance of IPO," Multinational Finance Journal, Multinational Finance Journal, vol. 13(1-2), pages 75-102, March-Jun.
  36. Wai‐yan Cheng & Yan‐Leung Cheung & Ka‐kit Po, 2004. "A Note on the Intraday Patterns of Initial Public Offerings: Evidence from Hong Kong," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 31(5‐6), pages 837-860, June.
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