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Investment banker reputation and two-stage combination carve-outs and spin-offs

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  • Thompson, Thomas H.
  • Apilado, Vince

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  • Thompson, Thomas H. & Apilado, Vince, 2006. "Investment banker reputation and two-stage combination carve-outs and spin-offs," Journal of Banking & Finance, Elsevier, vol. 30(1), pages 85-110, January.
    • Handle: RePEc:eee:jbfina:v:30:y:2006:i:1:p:85-110
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    1. repec:bla:jfinan:v:43:y:1988:i:4:p:789-822 is not listed on IDEAS
    2. Logue, Dennis E., 1973. "On the Pricing of Unseasoned Equity Issues: 1965–1969," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 8(1), pages 91-103, January.
    3. Galai, Dan & Masulis, Ronald W., 1976. "The option pricing model and the risk factor of stock," Journal of Financial Economics, Elsevier, vol. 3(1-2), pages 53-81.
    4. Beatty, Randolph P. & Ritter, Jay R., 1986. "Investment banking, reputation, and the underpricing of initial public offerings," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 213-232.
    5. Anand M. Vijh, 2002. "The Positive Announcement-Period Returns of Equity Carveouts: Asymmetric Information or Divestiture Gains?," The Journal of Business, University of Chicago Press, vol. 75(1), pages 153-190, January.
    6. Loughran, Tim & Ritter, Jay R, 1995. "The New Issues Puzzle," Journal of Finance, American Finance Association, vol. 50(1), pages 23-51, March.
    7. Beatty, Randolph P & Welch, Ivo, 1996. "Issuer Expenses and Legal Liability in Initial Public Offerings," Journal of Law and Economics, University of Chicago Press, vol. 39(2), pages 545-602, October.
    8. repec:bla:jfinan:v:53:y:1998:i:1:p:285-311 is not listed on IDEAS
    9. Booth, James R. & Smith, Richard II, 1986. "Capital raising, underwriting and the certification hypothesis," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 261-281.
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    11. Ritter, Jay R, 1984. "The "Hot Issue" Market of 1980," The Journal of Business, University of Chicago Press, vol. 57(2), pages 215-240, April.
    12. Heather Hulburt & James Miles & J Randall Woolridge, 2002. "Value Creation from Equity Carve-Outs," Financial Management, Financial Management Association, vol. 31(1), Spring.
    13. Carter, Richard B & Manaster, Steven, 1990. "Initial Public Offerings and Underwriter Reputation," Journal of Finance, American Finance Association, vol. 45(4), pages 1045-1067, September.
    14. Vijh, Anand M, 1994. "The Spinoff and Merger Ex-date Effects," Journal of Finance, American Finance Association, vol. 49(2), pages 581-609, June.
    15. Megginson, William L & Weiss, Kathleen A, 1991. "Venture Capitalist Certification in Initial Public Offerings," Journal of Finance, American Finance Association, vol. 46(3), pages 879-903, July.
    16. Tim Loughran & Jay R. Ritter, 2002. "Why Don't Issuers Get Upset About Leaving Money on the Table in IPOs?," The Review of Financial Studies, Society for Financial Studies, vol. 15(2), pages 413-444, March.
    17. Hanley, Kathleen Weiss, 1993. "The underpricing of initial public offerings and the partial adjustment phenomenon," Journal of Financial Economics, Elsevier, vol. 34(2), pages 231-250, October.
    18. 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.
    19. Chemmanur, Thomas J. & Yan, An, 2004. "A theory of corporate spin-offs," Journal of Financial Economics, Elsevier, vol. 72(2), pages 259-290, May.
    20. Rock, Kevin, 1986. "Why new issues are underpriced," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 187-212.
    21. Chemmanur, Thomas J & Fulghieri, Paolo, 1994. "Investment Bank Reputation, Information Production, and Financial Intermediation," Journal of Finance, American Finance Association, vol. 49(1), pages 57-79, March.
    22. Schipper, Katherine & Smith, Abbie, 1986. "A comparison of equity carve-outs and seasoned equity offerings : Share price effects and corporate restructuring," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 153-186.
    23. Tim Loughran & Jay Ritter, 2004. "Why Has IPO Underpricing Changed Over Time?," Financial Management, Financial Management Association, vol. 33(3), Fall.
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    Cited by:

    1. Thomas H. Thompson, 2021. "An examination of the liquidity of equity carve-out parents," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 45(3), pages 395-412, July.
    2. Desai, Chintal A. & Klock, Mark S. & Mansi, Sattar A., 2011. "On the acquisition of equity carve-outs," Journal of Banking & Finance, Elsevier, vol. 35(12), pages 3432-3449.
    3. Chemmanur, Thomas J. & Liu, Mark H., 2011. "Institutional trading, information production, and the choice between spin-offs, carve-outs, and tracking stock issues," Journal of Corporate Finance, Elsevier, vol. 17(1), pages 62-82, February.
    4. Thomas Thompson, 2013. "An examination of ex-ante factors and their influence on equity carve-out long-term performance," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 37(2), pages 159-172, April.
    5. Salim Chahine & Mohamad Zeidan, 2014. "Corporate governance and market performance of parent firms following equity carve-out announcements," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 18(2), pages 471-503, May.

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