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Cited by 1,122

The DOI matches its Crossref record; 52 of the 52 references it cites were found in a registry or an index.

MEDIA LEGITIMATION EFFECTS IN THE MARKET FOR INITIAL PUBLIC OFFERINGS.

Pollock, T. G., Rindova, V. P.·2003·Academy of Management Journal
DOI 10.2307/30040654
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Abstract

In this study, we argue that media-provided information affects investors ’ impressions of newly public firms. In 225 initial public offerings (IPOs), the volume of media-provided information had a negative, diminishing relationship with underpricing and a positive, diminishing relationship with stock turnover on the first day of trading. The relationship between the tenor of media-provided information and underpricing in-creases at a nonlinear rate, and decreases similarly for turnover. Findings provide important evidence that publicly available information not only reflects IPOs ’ legiti-macy, but also adds to their legitimacy and influences investor behavior. In the last 20 years, an increasing amount of research on markets has been conducted from a social constructionist perspective, emphasizing how social structures enhance the flow of useful and credible information that market participants use to reduce the uncertainty of market exchanges (e.g., Aldrich & Fiol, 1994; Zuckerman, 1999). Fur-ther, recent organizational research has begun to stress the influence of information intermediaries, such as financial analysts and the media, on mar-

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Metadata

Authors
Pollock, T. G., & Rindova, V. P.
Venue
Academy of Management Journal
Publisher
Academy of Management
Published
2003-10-01
Volume
46
Issue
5
Pages
631-642
ISSN
  • 0001-4273 (ISSN-L)
  • 1948-0989
DOI
10.2307/30040654
OpenAlex
W2073260340
Cited by
1,122
References
52
FWCI
18.77
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: MEDIA LEGITIMATION EFFECTS IN THE MARKET FOR INITIAL PUBLIC OFFERINGS. https://app.cochat.ai/papers/10.2307/30040654
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Pollock, T. G., & Rindova, V. P. (2003). MEDIA LEGITIMATION EFFECTS IN THE MARKET FOR INITIAL PUBLIC OFFERINGS. Academy of Management Journal. https://doi.org/10.2307/30040654

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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.