The DOI matches its Crossref record; 6 of the 6 references it cites were found in a registry or an index.
A Review of IPO Activity, Pricing, and Allocations
Abstract
We review the theory and evidence on IPO activity: why firms go public, why they reward first‐day investors with considerable underpricing, and how IPOs perform in the long run. Our perspective is threefold: First, we believe that many IPO phenomena are not stationary. Second, we believe research into share allocation issues is the most promising area of research in IPOs at the moment. Third, we argue that asymmetric information is not the primary driver of many IPO phenomena. Instead, we believe future progress in the literature will come from nonrational and agency conflict explanations. We describe some promising such alternatives.
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Cites
Prospect Theory: An Analysis of Decision under Risk
Kahneman, D., & Tversky, A. (1979) · Econometrica · doi:10.2307/1914185 · Cited by 48,524
Common risk factors in the returns on stocks and bonds
Fama, E. F., & French, K. R. (1993) · Journal of Financial Economics · doi:10.1016/0304-405x(93)90023-5 · Cited by 25,754
The Market for "Lemons": Quality Uncertainty and the Market Mechanism
Akerlof, G. A. (1970) · The Quarterly Journal of Economics · doi:10.2307/1879431 · Cited by 23,016
Corporate financing and investment decisions when firms have information that investors do not have
Myers, S. C., & Majluf, N. S. (1984) · Journal of Financial Economics · doi:10.1016/0304-405x(84)90023-0 · Cited by 18,957
Improved Methods for Tests of Long‐Run Abnormal Stock Returns
Lyon, J. D., Barber, B. M., & Tsai, C. (1999) · The Journal of Finance · doi:10.1111/0022-1082.00101 · Cited by 1,828
Stabilization, syndication and pricing of IPOs
Chowdhry, B., & Nanda, V. (1996) · The Journal of Financial and Quantitative Analysis · doi:10.2307/2331385 · Cited by 177
Cited by
Initial Public Offerings: An Analysis of Theory and Practice
BRAU, J. C., & FAWCETT, S. E. (2006) · The Journal of Finance · doi:10.1111/j.1540-6261.2006.00840.x · Cited by 837
Doidge, C., Karolyi, G. A., & Stulz, R. M. (2017) · Journal of Financial Economics · doi:10.1016/j.jfineco.2016.12.002 · Cited by 380
DEMERS, E., & JOOS, P. (2007) · Journal of Accounting Research · doi:10.1111/j.1475-679x.2007.00236.x · Cited by 196
Stock market development and internationalization: Do economic fundamentals spur both similarly?
Claessens, S., Klingebiel, D., & Schmukler, S. L. (2006) · Journal of Empirical Finance · doi:10.1016/j.jempfin.2006.03.002 · Cited by 127
Metadata
- Authors
- Ritter, J. R., & Welch, I.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2002-08
- Volume
- 57
- Issue
- 4
- Pages
- 1795-1828
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3122367063
- Cited by
- 2,408
- References
- 6
- FWCI
- 266.01
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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