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Growth fixation and the performance of bank initial public offerings, 1983-1991

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  • Houge, Todd
  • Loughran, Tim

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  • Houge, Todd & Loughran, Tim, 1999. "Growth fixation and the performance of bank initial public offerings, 1983-1991," Journal of Banking & Finance, Elsevier, vol. 23(8), pages 1277-1301, August.
    • Handle: RePEc:eee:jbfina:v:23:y:1999:i:8:p:1277-1301
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    References listed on IDEAS

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    1. Mikkelson, Wayne H. & Partch, M. Megan & Shah, Kshitij, 1997. "Ownership and operating performance of companies that go public," Journal of Financial Economics, Elsevier, vol. 44(3), pages 281-307, June.
    2. Michael C. Jensen, 2010. "The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 43-58, January.
    3. Jain, Bharat A & Kini, Omesh, 1994. "The Post-Issue Operating Performance of IPO Firms," Journal of Finance, American Finance Association, vol. 49(5), pages 1699-1726, December.
    4. Jeremy C. Stein, 1989. "Efficient Capital Markets, Inefficient Firms: A Model of Myopic Corporate Behavior," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 104(4), pages 655-669.
    5. Robyn McLaughlin & Assem Safieddine & Gopala K. Vasudevan, 1996. "The Operating Performance of Seasoned Equity Issuers: Free Cash Flow and Post-Issue Performance," Financial Management, Financial Management Association, vol. 25(4), Winter.
    6. Banz, Rolf W., 1981. "The relationship between return and market value of common stocks," Journal of Financial Economics, Elsevier, vol. 9(1), pages 3-18, March.
    7. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
    8. Spiess, D. Katherine & Affleck-Graves, John, 1995. "Underperformance in long-run stock returns following seasoned equity offerings," Journal of Financial Economics, Elsevier, vol. 38(3), pages 243-267, July.
    9. Ritter, Jay R, 1991. "The Long-run Performance of Initial Public Offerings," Journal of Finance, American Finance Association, vol. 46(1), pages 3-27, March.
    10. Degeorge, Francois & Zeckhauser, Richard, 1993. "The Reverse LBO Decision and Firm Performance: Theory and Evidence," Journal of Finance, American Finance Association, vol. 48(4), pages 1323-1348, September.
    11. Lakonishok, Josef & Shleifer, Andrei & Vishny, Robert W, 1994. "Contrarian Investment, Extrapolation, and Risk," Journal of Finance, American Finance Association, vol. 49(5), pages 1541-1578, December.
    12. Reinganum, Marc R., 1981. "Misspecification of capital asset pricing : Empirical anomalies based on earnings' yields and market values," Journal of Financial Economics, Elsevier, vol. 9(1), pages 19-46, March.
    13. Rajan, Raghuram & Servaes, Henri, 1997. "Analyst Following of Initial Public Offerings," Journal of Finance, American Finance Association, vol. 52(2), pages 507-529, June.
    14. Fama, Eugene F & French, Kenneth R, 1992. "The Cross-Section of Expected Stock Returns," Journal of Finance, American Finance Association, vol. 47(2), pages 427-465, June.
    15. Chaney, Paul K. & Lewis, Craig M., 1998. "Income smoothing and underperformance in initial public offerings," Journal of Corporate Finance, Elsevier, vol. 4(1), pages 1-29, March.
    16. Brav, Alon & Gompers, Paul A, 1997. "Myth or Reality? The Long-Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital-Backed Companies," Journal of Finance, American Finance Association, vol. 52(5), pages 1791-1821, December.
    17. Loughran, Tim & Ritter, Jay R, 1997. "The Operating Performance of Firms Conducting Seasoned Equity Offerings," Journal of Finance, American Finance Association, vol. 52(5), pages 1823-1850, December.
    18. Masulis, Ronald W., 1987. "Changes in ownership structure : Conversions of mutual savings and loans to stock charter," Journal of Financial Economics, Elsevier, vol. 18(1), pages 29-59, March.
    19. repec:bla:jfinan:v:53:y:1998:i:6:p:1935-1974 is not listed on IDEAS
    20. Loughran, Tim & Ritter, Jay R, 1995. "The New Issues Puzzle," Journal of Finance, American Finance Association, vol. 50(1), pages 23-51, March.
    21. Fama, Eugene F. & French, Kenneth R., 1993. "Common risk factors in the returns on stocks and bonds," Journal of Financial Economics, Elsevier, vol. 33(1), pages 3-56, February.
    22. Esty, Benjamin C., 1997. "Organizational form and risk taking in the savings and loan industry," Journal of Financial Economics, Elsevier, vol. 44(1), pages 25-55, April.
    23. Beaver, W & Eger, C & Ryan, S & Wolfson, M, 1989. "Financial-Reporting, Supplemental Disclosures, And Bank Share Prices," Journal of Accounting Research, Wiley Blackwell, vol. 27(2), pages 157-178.
    24. Beaver, William H. & Engel, Ellen E., 1996. "Discretionary behavior with respect to allowances for loan losses and the behavior of security prices," Journal of Accounting and Economics, Elsevier, vol. 22(1-3), pages 177-206, October.
    25. Healy, Paul M., 1985. "The effect of bonus schemes on accounting decisions," Journal of Accounting and Economics, Elsevier, vol. 7(1-3), pages 85-107, April.
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    Cited by:

    1. Bill Francis & Iftekhar Hasan & Dona Siregar, 2009. "The choice of IPO versus M&A: evidence from banking industry," Applied Financial Economics, Taylor & Francis Journals, vol. 19(24), pages 1987-2007.
    2. Friesen, Geoffrey C. & Swift, Christopher, 2009. "Overreaction in the thrift IPO aftermarket," Journal of Banking & Finance, Elsevier, vol. 33(7), pages 1285-1298, July.
    3. Killins, Robert N. & Ngo, Thanh & Wang, Hongxia, 2022. "Financial institution IPOs and regulatory environments," Finance Research Letters, Elsevier, vol. 46(PB).
    4. Carow, Kenneth A. & Cox, Steven R. & Roden, Dianne M., 2009. "Demutualization: Determinants and consequences of the mutual holding company choice," Journal of Banking & Finance, Elsevier, vol. 33(8), pages 1454-1463, August.
    5. Georgios Sermpinis & Serafeim Tsoukas & Ping Zhang, 2019. "What influences a bank's decision to go public?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 24(4), pages 1464-1485, October.

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