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IPOs and Long-Term Relationships: An Advantage of Book Building

Citations

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Cited by:

  1. François Degeorge & François Derrien & Kent L. Womack, 2004. "Quid Pro Quo in IPOs: Why Book-building is Dominating Auctions," Working Papers 2004.150, Fondazione Eni Enrico Mattei.
  2. 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.
  3. Su, Chen & Bangassa, Kenbata, 2011. "The impact of underwriter reputation on initial returns and long-run performance of Chinese IPOs," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 21(5), pages 760-791.
  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. 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. Fabio Bertoni & Matteo Bonaventura & Giancarlo Giudici, 2013. "The allotment of IPO shares: placing strategies between retail versus institutional investors," Chapters, in: Mario Levis & Silvio Vismara (ed.), Handbook of Research on IPOs, chapter 10, pages 207-218, Edward Elgar Publishing.
  7. Danlin Pu & Shanping Wang, 2015. "The impact of pricing mechanism reform on underpricing of initial public offerings in China," Applied Economics Letters, Taylor & Francis Journals, vol. 22(14), pages 1144-1149, September.
  8. Jay R. Ritter & Ivo Welch, 2002. "A Review of IPO Activity, Pricing, and Allocations," Journal of Finance, American Finance Association, vol. 57(4), pages 1795-1828, August.
  9. Kanis Saengchote & Jananya Sthienchoak, 2020. "Mutual Fund Participation in IPOs: Thai Evidence," PIER Discussion Papers 131, Puey Ungphakorn Institute for Economic Research.
  10. 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.
  11. repec:bor:iserev:v:11:y:2011:i:43:p:53-80 is not listed on IDEAS
  12. Pons-Sanz, Vicente, 2005. "Who benefits from IPO underpricing? Evidence form hybrid bookbuilding offerings," Working Paper Series 428, European Central Bank.
  13. Lehmann, Timo & Weber, Matthias, 2021. "IPO Underpricing and Aftermarket Price Accuracy: Auctions vs. Bookbuilding in Japan," SocArXiv sa385, Center for Open Science.
  14. Santos, Francisco, 2017. "IPO market timing with uncertain aftermarket retail demand," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 247-266.
  15. Boulton, Thomas J., 2022. "Economic policy uncertainty and international IPO underpricing," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 81(C).
  16. Sonu, Catherine Heyjung, 2022. "Information quality and IPO underpricing: The role of underwriter pricing and allocation powers," Pacific-Basin Finance Journal, Elsevier, vol. 75(C).
  17. He, Jingbin & Ma, Xinru & Liao, Jingchi, 2021. "Preference for bid time in hybrid auctioned IPOs: Evidence from China," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
  18. Chahine, Salim, 2007. "Investor interest, trading volume, and the choice of IPO mechanism in France," International Review of Financial Analysis, Elsevier, vol. 16(2), pages 116-135.
  19. Zhang, Feng, 2012. "Information precision and IPO pricing," Journal of Corporate Finance, Elsevier, vol. 18(2), pages 331-348.
  20. 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.
  21. Nefedova, Tamara & Pratobevera, Giuseppe, 2020. "Do institutional investors play hide-and-sell in the IPO aftermarket?," Journal of Corporate Finance, Elsevier, vol. 64(C).
  22. Saengchote, Kanis & Sthienchoak, Jananya, 2020. "Strategic participation in IPOs by affiliated mutual funds: Thai evidence," Pacific-Basin Finance Journal, Elsevier, vol. 63(C).
  23. 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.
  24. Christine A. Parlour & Uday Rajan, 2003. "Rationing in IPOs," Working Papers 2003.26, Fondazione Eni Enrico Mattei.
  25. Bekir Elmas & M.Sinan Temurlenk, 2009. "Granger Causality Between Stock Price and Trading Volume: A Stock-Based Analysis in the ISE," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 11(43), pages 1-16.
  26. Chuluun, Tuugi, 2015. "The role of underwriter peer networks in IPOs," Journal of Banking & Finance, Elsevier, vol. 51(C), pages 62-78.
  27. 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.
  28. Hanafi, Mamduh M., 2021. "Fixed price and book building methods in an exogenous environment: Evidence from Indonesia stock market," Research in International Business and Finance, Elsevier, vol. 58(C).
  29. Wang, Wei & Yung, Chris, 2021. "IPO quantity revisions," Journal of Banking & Finance, Elsevier, vol. 132(C).
  30. repec:bor:iserev:v:11:y:2011:i:43:p:1-16 is not listed on IDEAS
  31. Sherman, Ann E. & Titman, Sheridan, 2002. "Building the IPO order book: underpricing and participation limits with costly information," Journal of Financial Economics, Elsevier, vol. 65(1), pages 3-29, July.
  32. Chan, Kalok & Wang, Junbo & Wei, K. C. John, 2004. "Underpricing and long-term performance of IPOs in China," Journal of Corporate Finance, Elsevier, vol. 10(3), pages 409-430, June.
  33. Halil Ýbrahim Bulut, 2009. "The Accuracy of Sales Forecasts Disclosed in the IPO Prospectuses: Evidence From Istanbul Stock Exchange," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 11(43), pages 17-52.
  34. Kenneth A. Kim & Hyun‐Han Shin, 2004. "The Puzzling Increase in the Underpricing of Seasoned Equity Offerings," The Financial Review, Eastern Finance Association, vol. 39(3), pages 343-365, August.
  35. Güçbilmez, Ufuk & Ó Briain, Tomás, 2021. "Bidding styles of institutional investors in IPO auctions," Journal of Financial Markets, Elsevier, vol. 53(C).
  36. Ljungqvist, Alexander P. & Wilhelm, William Jr., 2002. "IPO allocations: discriminatory or discretionary?," Journal of Financial Economics, Elsevier, vol. 65(2), pages 167-201, August.
  37. Erkin Uzun, 2009. "Aftermarket Performances of Book Building and Fixed Price Offerings on the Istanbul stock Exchange," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 11(43), pages 53-80.
  38. Francois Degeorge & Francois Derrien & Kent L. Womack, 2007. "Analyst Hype in IPOs: Explaining the Popularity of Bookbuilding," The Review of Financial Studies, Society for Financial Studies, vol. 20(4), pages 1021-1058.
  39. Jacob, Joshy & Agarwalla, Sobhesh Kumar, 2012. "Mandatory IPO Grading: Does it Help Pricing Efficiency?," IIMA Working Papers WP2012-12-07, Indian Institute of Management Ahmedabad, Research and Publication Department.
  40. Xingqiang Du & Xu Li & Xuejiao Liu & Shaojuan Lai, 2018. "Underwriter–Auditor Relationship and Pre-IPO Earnings Management: Evidence from China," Journal of Business Ethics, Springer, vol. 152(2), pages 365-392, October.
  41. 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.
  42. Jenkinson, Tim & Morrison, Alan D. & Wilhelm, William Jr., 2006. "Why are European IPOs so rarely priced outside the indicative price range?," Journal of Financial Economics, Elsevier, vol. 80(1), pages 185-209, April.
  43. Bian, Yuxiang & Hu, Tiantian & Liu, Haoran & Su, Wentao & Wang, Ren, 2024. "The JOBS Act and IPO underpricing," The North American Journal of Economics and Finance, Elsevier, vol. 70(C).
  44. Neupane, Suman & Poshakwale, Sunil S., 2012. "Transparency in IPO mechanism: Retail investors’ participation, IPO pricing and returns," Journal of Banking & Finance, Elsevier, vol. 36(7), pages 2064-2076.
  45. André F. Gygax & Stephanie Ong, 2011. "What Do Investment Banks Truly Bring to the Table?," Abacus, Accounting Foundation, University of Sydney, vol. 47(2), pages 121-157, June.
  46. repec:bor:iserev:v:11:y:2011:i:43:p:17-52 is not listed on IDEAS
  47. Biais, Bruno & Faugeron-Crouzet, Anne Marie, 2002. "IPO Auctions: English, Dutch, ... French, and Internet," Journal of Financial Intermediation, Elsevier, vol. 11(1), pages 9-36, January.
  48. Chen, Zhaohui & Wilhelm Jr., William J., 2008. "A theory of the transition to secondary market trading of IPOs," Journal of Financial Economics, Elsevier, vol. 90(3), pages 219-236, December.
  49. Hao, Qing, 2007. "Laddering in initial public offerings," Journal of Financial Economics, Elsevier, vol. 85(1), pages 102-122, July.
  50. Huang, Rongbing & Shangguan, Zhaoyun & Zhang, Donghang, 2008. "The networking function of investment banks: Evidence from private investments in public equity," Journal of Corporate Finance, Elsevier, vol. 14(5), pages 738-752, December.
  51. Bertoni, Fabio & Giudici, Giancarlo, 2014. "The strategic reallocation of IPO shares," Journal of Banking & Finance, Elsevier, vol. 39(C), pages 211-222.
  52. Fabrice Rousseau & Sarah Parlane, 2009. "Optimal Initial Public O¤ering design with aftermarket trading," Economics Department Working Paper Series n2041109.pdf, Department of Economics, National University of Ireland - Maynooth.
  53. Wu, Di & Bu, Danlu, 2024. "Sentiment and information: How ‘over-optimistic’ investors influence differences of opinion and IPO pricing?," International Review of Financial Analysis, Elsevier, vol. 95(PB).
  54. 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.
  55. Stavros Thomadakis & Dimitrios Gounopoulos & Christos Nounis & Andreas Merikas, 2016. "Collateral Regulation and IPO†Specific Liberalisation: the Case of Price Limits in the Athens Stock Exchange," European Financial Management, European Financial Management Association, vol. 22(2), pages 276-312, March.
  56. Liu, Laura Xiaolei & Lu, Ruichang & Sherman, Ann E. & Zhang, Yong, 2023. "IPO underpricing and limited attention: Theory and evidence," Journal of Banking & Finance, Elsevier, vol. 154(C).
  57. Boulton, Thomas J. & Shank, Corey A., 2024. "Terror threat and investor sentiment: International evidence," Global Finance Journal, Elsevier, vol. 59(C).
  58. Deb, Saikat Sovan & Marisetty, Vijaya B., 2010. "Information content of IPO grading," Journal of Banking & Finance, Elsevier, vol. 34(9), pages 2294-2305, September.
  59. 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.
  60. Huyghebaert, Nancy & Van Hulle, Cynthia, 2006. "Structuring the IPO: Empirical evidence on the portions of primary and secondary shares," Journal of Corporate Finance, Elsevier, vol. 12(2), pages 296-320, January.
  61. 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.
  62. Boulton, Thomas J. & Ellram, Lisa M., 2024. "The intersection of supply chain operations and finance: Logistics uncertainty and International IPO underpricing," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 189(C).
  63. Guray Kucukkocaoglu & Ozge Sezgin Alp, 2012. "IPO mechanism selection by using Classification and Regression Trees," Quality & Quantity: International Journal of Methodology, Springer, vol. 46(3), pages 873-888, April.
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