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The Really Long-Run Performance of Initial Public Offerings: The Pre-NASDAQ Evidence

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Cited by:

  1. Su, Chen & Bangassa, Kenbata, 2011. "The impact of underwriter reputation on initial returns and long-run performance of Chinese IPOs," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 21(5), pages 760-791.
  2. David B. Audretsch & Erik E. Lehmann, 2013. "Corporate governance in newly listed companies," Chapters, in: Mario Levis & Silvio Vismara (ed.), Handbook of Research on IPOs, chapter 9, pages 179-206, Edward Elgar Publishing.
  3. Hoechle, Daniel & Schmid, Markus & Zimmermann, Heinz, 2012. "Decomposing Performance," Working Papers on Finance 1216, University of St. Gallen, School of Finance, revised Nov 2015.
  4. Cora Barnhart & Gerald P. Dwyer, 2012. "Returns To Investors In Stocks In New Industries," Economic Inquiry, Western Economic Association International, vol. 50(4), pages 1031-1049, October.
  5. Josh Lerner & Joacim Tåg, 2013. "Institutions and venture capital," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 22(1), pages 153-182, February.
  6. Borja Larrain & Peter Roosenboom & Giorgo Sertsios & Francisco Urzúa, 2024. "Ownership Concentration and Firm Value: New Evidence from Owner Stakes in IPOs," Management Science, INFORMS, vol. 70(7), pages 4441-4464, July.
  7. Yafeh, Yishay & Kandel, Eugene & ,, 2013. "The Great Pyramids of America: A Revised History of US Business Groups, Corporate Ownership and Regulation, 1930-1950," CEPR Discussion Papers 9759, C.E.P.R. Discussion Papers.
  8. Datta, Sudip & Gruskin, Mark & Iskandar-Datta, Mai, 2024. "Auditor certification and long-run performance of IPO stocks," Journal of Financial Stability, Elsevier, vol. 70(C).
  9. Keun Jung Lee, 2021. "The Effects of Privatization and Corporate Governance of SOEs in Transition Economies: The Case of Kazakhstan," ADB Institute Series on Development Economics, in: Farhad Taghizadeh-Hesary & Naoyuki Yoshino & Chul Ju Kim & Kunmin Kim (ed.), Reforming State-Owned Enterprises in Asia, chapter 0, pages 113-132, Springer.
  10. Proches Ngatuni & John Capstaff & Andrew Marshall, 2007. "Long‐Term Performance Following Rights Issues and Open Offers in the UK," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 34(1‐2), pages 33-64, January.
  11. Moshirian, Fariborz & Ng, David & Wu, Eliza, 2010. "Model specification and IPO performance: New insights from Asia," Research in International Business and Finance, Elsevier, vol. 24(1), pages 62-74, January.
  12. Edelman, Linda F. & Manolova, Tatiana S. & Brush, Candida G. & Chow, Clifton M., 2021. "Signal configurations: Exploring set-theoretic relationships in angel investing," Journal of Business Venturing, Elsevier, vol. 36(2).
  13. de Jong, Frank & Dahlquist, Magnus, 2004. "Pseudo Market Timing: Fact or Fiction?," CEPR Discussion Papers 4609, C.E.P.R. Discussion Papers.
  14. Dutta, Anupam & Knif, Johan & Kolari, James W. & Pynnonen, Seppo, 2018. "A robust and powerful test of abnormal stock returns in long-horizon event studies," Journal of Empirical Finance, Elsevier, vol. 47(C), pages 1-24.
  15. Daying Yan & Jun Cai, 2003. "Long-Run Operating Performance of Initial Public Offerings in Japanese Over-the-Counter Market (1991–2001): Evidence and Implications," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 10(2), pages 239-274, September.
  16. Pei-shan Lu & Weiju Young & Meng Sung Hsieh, 2017. "The Impacts of Overinvestment and Financial Constraints on Seasoned Equity Offering Long-Run Performance," International Journal of Economics and Financial Issues, Econjournals, vol. 7(5), pages 216-224.
  17. Shikha Bhatia & Balwinder Singh, 2012. "Examining the Performance of IPOs," Management and Labour Studies, XLRI Jamshedpur, School of Business Management & Human Resources, vol. 37(3), pages 219-251, August.
  18. Onesun Steve Yoo & Kevin McCardle, 2020. "The Valuator’s Curse: Decision Analysis of Overvaluation and Disappointment in Acquisition," Decision Analysis, INFORMS, vol. 17(4), pages 299-313, December.
  19. Stavros Peristiani, 2003. "Evaluating the riskiness of initial public offerings: 1980-2000," Staff Reports 167, Federal Reserve Bank of New York.
  20. Yang, Tung-Hsiao & Hsu, Junming & Yang, Wen-Ben, 2016. "Firm's motives behind SEOs, earnings management, and performance," International Review of Economics & Finance, Elsevier, vol. 43(C), pages 160-169.
  21. Grant Fleming & Zhangxin (Frank) Liu & David Merrett & Simon Ville, 2021. "Underpricing in a developing capital market: Australian equity issuances, 1920–39†," Economic History Review, Economic History Society, vol. 74(3), pages 831-855, August.
  22. Jog, Vijay & Otchere, Isaac & Sun, Chengye, 2019. "Does the two-stage IPO process reduce underpricing and long run underperformance? Evidence from Chinese firms listed in the U.S," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 59(C), pages 90-105.
  23. Dionysia Dionysiou, 2015. "Choosing Among Alternative Long-Run Event-Study Techniques," Journal of Economic Surveys, Wiley Blackwell, vol. 29(1), pages 158-198, February.
  24. Cristiana Cardi & Camilla Mazzoli & Sabrina Severini, 2019. "People have the power: post IPO effects of intellectual capital disclosure," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 43(2), pages 228-255, April.
  25. Bilei Zhou & Jie Michael Guo & Xiaohong Chen & Tian Yang, 2012. "Market timing of corporate debt issuance: prediction or reaction?," Applied Financial Economics, Taylor & Francis Journals, vol. 22(21), pages 1753-1769, November.
  26. Sibylle H. Lehmann, 2014. "Taking firms to the stock market: IPOs and the importance of large banks in imperial Germany, 1896–1913," Economic History Review, Economic History Society, vol. 67(1), pages 92-122, February.
  27. Kim, Oksana, 2013. "The global recognition strategy of blue chips of the Russian and Commonwealth of Independent States (CIS) markets," Journal of Contemporary Accounting and Economics, Elsevier, vol. 9(2), pages 151-169.
  28. Su, Chen, 2015. "Does institutional reform improve the impact of investment bank reputation on the long-term stock performance of initial public offerings?," The British Accounting Review, Elsevier, vol. 47(4), pages 445-470.
  29. Liu, Jianlei & Uchida, Konari & Gao, Ruidong, 2012. "Political connections and the long-term stock performance of Chinese IPOs," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 22(4), pages 814-833.
  30. Marie-Claude Beaulieu & Habiba Mrissa Bouden, 2020. "Does idiosyncratic risk matter in IPO long-run performance?," Review of Quantitative Finance and Accounting, Springer, vol. 55(3), pages 935-981, October.
  31. Ang, Andrew & Gu, Li & Hochberg, Yael V., 2007. "Is Ipo Underperformance a Peso Problem?," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 42(3), pages 565-594, September.
  32. Kooli, Maher & Suret, Jean-Marc, 2004. "The aftermarket performance of initial public offerings in Canada," Journal of Multinational Financial Management, Elsevier, vol. 14(1), pages 47-66, February.
  33. Minardi, Andrea Maria Accioly Fonseca & Ferrari, Guilherme Lopes & AraújoTavares, Pedro Carvalho, 2013. "Performances of Brazilian IPOs backed by private equity," Journal of Business Research, Elsevier, vol. 66(3), pages 448-455.
  34. David Chambers, 2007. "New issues, New Industries and Firm Survival in Interwar Britain," Working Papers 7002, Economic History Society.
  35. James C. Spindler, 2006. "Conflict or Credibility: Research Analyst Conflicts of Interest and the Market for Underwriting Business," The Journal of Legal Studies, University of Chicago Press, vol. 35(2), pages 303-325, June.
  36. Kolari, James W. & Pynnonen, Seppo & Tuncez, Ahmet M., 2021. "Further evidence on long-run abnormal returns after corporate events," The Quarterly Review of Economics and Finance, Elsevier, vol. 81(C), pages 421-439.
  37. Hoechle, Daniel & Karthaus, Larissa & Schmid, Markus, 2017. "The Long-Term Performance of IPO’s, Revisited," Working Papers on Finance 1706, University of St. Gallen, School of Finance.
  38. Peng Cheng & David McMillan, 2015. "Do initial reserves signal long-term IPO stock performance?," Cogent Economics & Finance, Taylor & Francis Journals, vol. 3(1), pages 1018697-101, December.
  39. Huong Dang & Michael Jolly, 2016. "IPOs in New Zealand: Valuation Multiples and Benchmark Adjusted Performance," Working Papers in Economics 16/32, University of Canterbury, Department of Economics and Finance.
  40. Marc Deloof & Ine Paeleman, 2024. "International entrepreneurship without investor protection: Evidence from initial public offerings in Belgium before the First World War," Economic History Review, Economic History Society, vol. 77(2), pages 523-553, May.
  41. Hyunbae Chun & Jung-Wook Kim & Randall Morck, 2016. "Productivity growth and stock returns: firm- and aggregate-level analyses," Applied Economics, Taylor & Francis Journals, vol. 48(38), pages 3644-3664, August.
  42. Beng Soon Chong & Zhenbin Liu, 2016. "CAR associated with SEO share lockups: Real or illusionary?," Review of Quantitative Finance and Accounting, Springer, vol. 47(3), pages 513-541, October.
  43. David Chambers, 2007. "Financial Dependence and Firm Survival in Interwar Britain," Economics Series Working Papers 377, University of Oxford, Department of Economics.
  44. Cakici, Nusret & Zaremba, Adam & Bianchi, Robert J. & Pham, Nga, 2021. "False discoveries in the anomaly research: New insights from the Stock Exchange of Melbourne (1927–1987)," Pacific-Basin Finance Journal, Elsevier, vol. 70(C).
  45. Feng, Yi & Nandy, Debarshi K. & Tian, Yisong S., 2015. "Executive compensation and the corporate spin-off decision," Journal of Economics and Business, Elsevier, vol. 77(C), pages 94-117.
  46. Alberto Dreassi & Massimiliano Kaucic & Giorgio Valentinuz, 2017. "The Information Content Of Earnings Announcements In The European Insurance Market: An Event Study Analysis," Eurasian Journal of Business and Management, Eurasian Publications, vol. 5(3), pages 1-16.
  47. Seung‐Doo Choi & Inmoo Lee & William Megginson, 2010. "Do Privatization IPOs Outperform in the Long Run?," Financial Management, Financial Management Association International, vol. 39(1), pages 153-185, March.
  48. Wai-yan Cheng & Yan-leung Cheung & Yuen-ching Tse, 2005. "The Impact on IPO Performance of More Stringent Listing Rules with a Pre-listing Earnings Requirement: Evidence from Hong Kong," Working Papers 172005, Hong Kong Institute for Monetary Research.
  49. Reber, Beat, 2017. "Does mispricing, liquidity or third-party certification contribute to IPO downside risk?," International Review of Financial Analysis, Elsevier, vol. 51(C), pages 25-53.
  50. Khelifa Mazouz & Sam Agyei-Ampomah & Brahim Saadouni & Shuxing Yin, 2013. "Stabilization and the aftermarket prices of initial public offerings," Review of Quantitative Finance and Accounting, Springer, vol. 41(3), pages 417-439, October.
  51. Canarella, Giorgio & Miller, Stephen M., 2022. "Firm size, corporate debt, R&D activity, and agency costs: Exploring dynamic and non-linear effects," The Journal of Economic Asymmetries, Elsevier, vol. 25(C).
  52. Janice CY How & Kian Ngo & Peter Verhoeven, 2011. "Dividend initiations and long-run IPO performance," Australian Journal of Management, Australian School of Business, vol. 36(2), pages 267-286, August.
  53. Banerjee, Shantanu & Güçbilmez, Ufuk & Pawlina, Grzegorz, 2016. "Leaders and followers in hot IPO markets," Journal of Corporate Finance, Elsevier, vol. 37(C), pages 309-334.
  54. Ravi Kiran, 2011. "Price Performance of IPOS in Indian Stock Market," EuroEconomica, Danubius University of Galati, issue 30, pages 73-97, November.
  55. repec:dau:papers:123456789/5010 is not listed on IDEAS
  56. Jean Jinghan Chen & Peng Cheng & Xinrong Xiao, 2011. "Related party transactions as a source of earnings management," Applied Financial Economics, Taylor & Francis Journals, vol. 21(3), pages 165-181.
  57. Soumya G. Deb & Pradip Banerjee, 2024. "Performance of VC/PE-backed IPOs: New Insights from India," Global Business Review, International Management Institute, vol. 25(2), pages 421-443, April.
  58. Switzer, Lorne N. & El Meslmani, Nabil & Zhai, Xinkai, 2022. "IPO performance and the size effect: Evidence for the US and Canada," The North American Journal of Economics and Finance, Elsevier, vol. 62(C).
  59. Juhani T. Linnainmaa & Michael R. Roberts, 2016. "The History of the Cross Section of Stock Returns," NBER Working Papers 22894, National Bureau of Economic Research, Inc.
  60. O. Emre Ergungor & C. N. V. Krishnan & Ajai K. Singh & Allan A. Zebedee, 2004. "Bank seasoned equity offers: do voluntary and involuntary offers differ?," Working Papers (Old Series) 0414, Federal Reserve Bank of Cleveland.
  61. Hoechle, Daniel & Zimmermann, Heinz, 2007. "A Generalization of the Calendar Time Portfolio Approach and the Performance of Private Investors," Working papers 2007/14, Faculty of Business and Economics - University of Basel.
  62. Hegde, Shantaram & Seth, Rama & Vishwanatha, S.R., 2020. "Ownership concentration and stock returns: Evidence from family firms in India," Pacific-Basin Finance Journal, Elsevier, vol. 61(C).
  63. Brau, James C. & Rodríguez, Javier, 2009. "An empirical analysis of Mexican and US closed-end mutual fund IPOs," Research in International Business and Finance, Elsevier, vol. 23(1), pages 1-17, January.
  64. Nurwahida Yaakub & Mohamed Sherif & Roszaini Haniffa, 2018. "The Post-issue Market Performance of Initial Public Offerings: Empirical Evidence from the Malaysian Stock Markets," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 17(3_suppl), pages 376-414, December.
  65. Ilia D. Dichev, 2007. "What Are Stock Investors’ Actual Historical Returns? Evidence from Dollar-Weighted Returns," American Economic Review, American Economic Association, vol. 97(1), pages 386-401, March.
  66. Fei Jiang & Lawrence Leger, 2009. "The Impact on IPO Performance of Reforming IPO Allocation Regulations: An Event Study of Shanghai Stock Exchange A-Shares," Discussion Paper Series 2009_04, Department of Economics, Loughborough University, revised Feb 2009.
  67. Falguni H. Pandya, 2016. "After Market Pricing Performance of Initial Public Offerings (IPOs)," Jindal Journal of Business Research, , vol. 5(1), pages 1-16, June.
  68. Hsu, Junming & Yang, Tung-Hsiao & Sung, Po-Shen, 2016. "SEO firms' lottery-like characteristics, institutional ownership, and long-run performance," Journal of Business Research, Elsevier, vol. 69(6), pages 2160-2166.
  69. Jerry Coakley & Leon Hadass & Andrew Wood, 2008. "Hot IPOs can damage your long-run wealth!," Applied Financial Economics, Taylor & Francis Journals, vol. 18(14), pages 1111-1120.
  70. Sanjay Dhamija & Ravinder Kumar Arora, 2017. "Determinants of Long-run Performance of Initial Public Offerings: Evidence from India," Vision, , vol. 21(1), pages 35-45, March.
  71. Que, Jiangjing & Zhang, Xueyong, 2019. "Pre-IPO growth, venture capital, and the long-run performance of IPOs," Economic Modelling, Elsevier, vol. 81(C), pages 205-216.
  72. Maher Kooli & Jean-François L'Her & Jean-Marc Suret, 2003. "Do IPOs Underperform in the Long-Run? New Evidence from the Canadian Stock Market," CIRANO Working Papers 2003s-16, CIRANO.
  73. Till Drebinger & Shailendra Kumar Rai & Heiko Hinrichs, 2019. "Performance of IPOs of Indian Companies Backed by Private Equity," Vision, , vol. 23(4), pages 397-409, December.
  74. O. Emre Ergungor & C. N. V. Krishnan & Ajai K. Singh & Allan A. Zebedee, 2005. "Offer-price discount of bank seasoned equity offers: do voluntary and involuntary offers convey different information?," Working Papers (Old Series) 0515, Federal Reserve Bank of Cleveland.
  75. Mary Brooke Billings & Kevin Hsueh & Melissa F. Lewis-Western & Gladriel Shobe, 2023. "Innovations in IPO Deal Structure: Do Up-C IPOs Harm Public Shareholders?," Management Science, INFORMS, vol. 69(5), pages 3048-3079, May.
  76. Meike Siefkes & Anton Lohne Hamer & Gustav Haaland & Øyvind Bjørgum, 2024. "Profit first, environmental impact second? Investigating hybrid institutional logics in venture capital investment approaches," Business Strategy and the Environment, Wiley Blackwell, vol. 33(8), pages 7922-7941, December.
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