Secondary price formation of IPOs on the first trading day in the Spanish market
-
1
Universidad de La Rioja
info
ISSN: 1133-455X
Año de publicación: 2014
Volumen: 22
Número: 65
Páginas: 71-97
Tipo: Artículo
Otras publicaciones en: Revista de economía aplicada
Referencias bibliográficas
- Aggarwal, R. (2000): "Stabilization activities by underwriters after initial public offerings", Journal of Finance, vol. 55, pp. 1075-1103.
- Aggarwal, R. and P. Conroy (2000): "Price discovery in initial public offerings and the role of the lead underwriter", Journal of Finance, vol. 55, pp. 2903-2922.
- Álvarez, S. (2000): "La infravaloración de las salidas a bolsa (1985-1997)", Bolsa de Ma - drid, vol. 87, pp. 19-23.
- Álvarez, S. and A.I. Fernández (2003): "La explicación de la infravaloración de las salidas a bolsa españolas", Revista de Economía Aplicada, vol. 11, nº 33, pp. 49-64.
- Álvarez, S. and V.M. González (2005): "Signalling and the long-run performance of Spanish Initial Public Offerings (IPOs)", Journal of Business Finance and Accounting, vol. 32, nº 1-2, pp. 325-350.
- Bancel, F. and U. Mittoo (2004): "Cross-country determinants of capital structure choice: A survey of European firms", Financial Management, vol. 33, nº 4, pp. 103-133.
- Barry, C. and R. Jennings (1993): "The opening price performance of initial public offerings of common stock", Financial Management, vol. 22, nº 1, pp. 54-63.
- Beatty, R. and J. Ritter (1986): "Issuer expenses and legal liability in initial public offerings", Journal of Law and Economics, vol. 15, pp. 213-232.
- Benveniste, L., Erdal, S. and W. Wilhelm (1998): "Who benefits from secondary market price stabilization of IPOs?", Journal of Banking and Finance, vol. 22, pp. 741-767.
- Benveniste, L. and P. Spindt (1989): "How investment bankers determine the offer price and allocation of new issues", Journal of Financial Economics, vol. 24, pp. 343-361.
- Bradley, D.J., Gonas, J.S., Highfield, M.J. and K.D. Roskelley (2009): "An examination of IPO secondary market returns", Journal of Corporate Finance, vol. 15, pp. 316-330.
- Chang, E., Chen, C., Chi, J. and M. Young (2008): "IPO underpricing in China: New evidence from the primary and secondary markets", Emerging Market Review, vol. 9, pp. 1-16.
- Chowdry, B. and V. Nanda (1996): "Stabilization, syndication, and the pricing of IPOs", Journal of Financial and Quantitative Analysis, vol. 31, pp. 25-42.
- Cook, D., Kieschnick, R. and R. Van Ness (2006): "On the marketing of IPOs", Journal of Financial Economics, vol. 82, pp. 35-61.
- Cornelli, F., Goldreich, D. and A. Ljungqvist (2006): "Investor sentiment and pre-IPO markets", Journal of Finance, vol. 61, pp. 1187-1216.
- Dorn, D. (2009): "Does sentiment demand drive the retail demand for IPOs?", Journal of Financial and Quantitative Analysis, vol. 44, nº 1, pp. 85-108.
- Ellis, K., Micahely, R. and M. O'Hara (2000): "When the underwriter is the market maker: an examination of trading in the IPO aftermarket", Journal of Finance, vol. 55, pp. 1039-1074.
- Farinós, J.E. (2001): "Rendimientos anormales de las OPV en España", Investigaciones Económicas, vol. 25, nº 2, pp. 417-437.
- Hanley, K.W. (1993): "The underpricing of initial public offerings and the partial adjustment phenomenon", Journal of Financial Economics, vol. 34, pp. 231-250.
- Hanley, K.W., Kumar, A. and P. Seguin (1993): "Price stabilization in the market for new issues", Journal of Financial Economics, vol. 34, pp. 177-197.
- Hao, G. (2007): "Laddering in initial public offerings", Journal of Financial Economics, vol. 85, pp. 102-122.
- La Porta, R., Lopez-de-Silanes, F., Shleifer, A. and R. Vishny (1998): "Law and Finance", Journal of Political Economy, vol. 106, pp. 1113-1155.
- Lewellen, K. (2006): "Risk, reputation, and IPO price support", Journal of Finance, vol. 61, pp. 613-653.
- Lowry, M., Officer, M. and W. Schwert (2010): "The variability of IPO initial returns", Journal of Finance, vol. 65, nº 2, pp. 425-465.
- Miller, R. and F. Reilly (1987): "An examination of mispricing, returns, and uncertainty of initial public offerings", Financial Management, vol. 16, pp. 33-38.
- Rajan, R.G. and L. Zingales (1995): "What do we know about capital structure? Some evidence from international data", Journal of Finance, vol. 50, nº 5, pp. 1421-1460.
- Rock, K. (1986): "Why new issues are underpriced", Journal of Financial Economics, vol. 15, pp. 187-212.
- Rudd, J. (1993): "Underwriter price support and the underpricing puzzle", Journal of Financial Economics, vol. 34, pp. 135-151.
- Saá-Requejo, J. (1996): "Financing decisions: Lessons from the Spanish experience", Financial Management, vol. 25, pp. 44-56.
- Schultz, P. and M. Zaman (1994): "Aftermarket support and underpricing of initial public offerings", Journal of Financial Economics, vol. 14, pp. 199-219.
- Welch, I. (1992): "Sequential sales, learning, and cascades", Journal of Finance, vol. 47, pp. 695-732.
- White, H. (1980): "A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity", Econometrica, vol. 48, pp. 817-838.