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VC investment timing and IPO pricing

In: Handbook of Research on IPOs

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  • Jean-Sébastien Michel

Abstract

The Handbook of Research on IPOs provides a comprehensive review of the emerging trends and directions in the global initial public offerings (IPO) markets. The empirical evidence included in the book covers Europe, the US and the Far East, and presents a truly global perspective of IPO markets around the world and at the different stages of the entire IPO process.

Suggested Citation

  • Jean-Sébastien Michel, 2013. "VC investment timing and IPO pricing," Chapters, in: Mario Levis & Silvio Vismara (ed.), Handbook of Research on IPOs, chapter 11, pages 219-236, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:15210_11
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    References listed on IDEAS

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    3. Amiyatosh K. Purnanandam, 2004. "Are IPOs Really Underpriced?," The Review of Financial Studies, Society for Financial Studies, vol. 17(3), pages 811-848.
    4. Gompers, Paul A, 1995. "Optimal Investment, Monitoring, and the Staging of Venture Capital," Journal of Finance, American Finance Association, vol. 50(5), pages 1461-1489, December.
    5. Benveniste, Lawrence M. & Spindt, Paul A., 1989. "How investment bankers determine the offer price and allocation of new issues," Journal of Financial Economics, Elsevier, vol. 24(2), pages 343-361.
    6. Rock, Kevin, 1986. "Why new issues are underpriced," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 187-212.
    7. Lee, Peggy M. & Wahal, Sunil, 2004. "Grandstanding, certification and the underpricing of venture capital backed IPOs," Journal of Financial Economics, Elsevier, vol. 73(2), pages 375-407, August.
    8. 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.
    9. Franҫois Derrien, 2005. "IPO Pricing in “Hot” Market Conditions: Who Leaves Money on the Table?," Journal of Finance, American Finance Association, vol. 60(1), pages 487-521, February.
    10. Francesca Cornelli & David Goldreich & Alexander Ljungqvist, 2006. "Investor Sentiment and Pre‐IPO Markets," Journal of Finance, American Finance Association, vol. 61(3), pages 1187-1216, June.
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    13. repec:bla:jfinan:v:53:y:1998:i:1:p:285-311 is not listed on IDEAS
    14. François Derrien, 2005. "IPO Pricing in 'Hot' Market Conditions: Who Leaves Money on the Table?," Post-Print hal-00480827, HAL.
    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. Gompers, Paul A., 1996. "Grandstanding in the venture capital industry," Journal of Financial Economics, Elsevier, vol. 42(1), pages 133-156, September.
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