When the Underwriter Is the Market Maker: An Examination of Trading in the IPO Aftermarket

Keywords

Underwriting, Initial public offering, Business, Financial economics, Finance

References

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• INVESTMENT BANKING, REPUTATION, AND THE UNDERPRICING OF INITIAL PUBLIC OFFERINGS*Randolph P. Beatty, Jay R. Ritter — 1986
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• The underpricing of initial public offerings and the partial adjustment phenomenonKathleen Hanley — 1993
• Why new issues are underpricedKevin Rock — 1986
• Aftermarket support and underpricing of initial public offeringsPaul Schultz, Mir A. Zaman — 1994
• Effects of Market Reform on the Trading Costs and Depths of Nasdaq StocksMichael J. Barclay, William G. Christie, Jeffrey H. Harris — 1999
• Initial Public Offerings and Underwriter ReputationRichard Carter, Steven Manaster — 1990
• Signalling by underpricing in the IPO marketFranklin Allen, Gerald R. Faulhaber — 1989
• How investment bankers determine the offer price and allocation of new issuesLawrence M. Benveniste, Paul A. Spindt — 1989
• Inferring Trade Direction from Intraday DataCharles M.C. Lee, Mark J. Ready — 1991
• How Does Underwriter Price Support Affect IPOs? Empirical EvidenceNagpurnanand Prabhala, Manju Puri — 1998
• Stabilization, Syndication, and Pricing of IPOsBhagwan Chowdhry, Vikram K. Nanda — 1996
• Conflict of interest and the credibility of underwriter analyst recommendationsRoni Michaely, Kent L. Womack — 1999
• The Marketing of Closed-end Fund IPOs: Evidence from Transactions Data☆Kathleen Hanley, Charles M.C. Lee, Paul L. Seguin — 1996
• The Long-Run Performance of Initial Public OfferingsJay R. Ritter — 1991

Cited by

• Two Essays on the Probability of Informed TradingMarius Popescu — 2007
• The evalutation of IPOs and its influence on a private firm's exit decisionAndrea Signori — 2014
• Do IPO Analysts Issue Unfavorable Recommendations on Non-IPO Firms?Simona Mola — 2005
• An Attempt to Improve Fairness, Efficiency, and Access in the Financial Markets: The W.R. Hambrecht and Co Open IPO ProcessD.B.A. William J. Rhyne — 2007
• Underwriter Networks, Investor Attention, and Initial Public OfferingsEmanuele Bajo, Thomas J. Chemmanur, Karen Simonyan — 2016
• Why Has IPO Underpricing Increased Over TimeTim Loughran — 2002
• Formador de Mercado e seu Impacto nos Custos de Transação no Mercado de Ações BrasileiroEscola De Economia De São Paulo, Helder Ulisses Antoniazzi — 2013
• Pricing of New Securities: Is it Accounting or Finance that Matters?Nakiran Rajangam, Sheela Devi, D. Sundarasen — 2009
• Two Essays on Alternative Mechanisms to Going PublicIoannis V. Floros — 2008
• The Link between IPO Underpricing and Trading Volume: Evidence from the Istanbul Stock ExchangeAydın Yüksel, Aslı Yüksel — 2006
• Essays on underwriter short covering transactions in initial and seasoned public offerings of equityAijun Besio — 2002
• Pre-IPO dividend paymentsJens Martin, Richard Zeckhauser, John F. Kennedy — 2009
• What has explained IPO underpricingWen Wen — 2005
• How Does Transfer Pricing Risk Affect Premia in Cross-Border Mergers and Acquisitions?Devan Mescall, Kenneth J. Klassen — 2014
• Strategic Overpricing of Initial Public OfferingsZheng Liu — 2012
• Fire-sales and Information Advantage: When Bank-Affiliation HelpsLei Zhang, Massimo Massa — 2012
• IPO Underpricing: A SurveyAlexander Ljungqvist — 2004
• Three Essays in FinanceBenjamin Golez — 2011
• What Drives the Initial Market Performance of Italian IPOs ? An Empirical Investigation on Underpricing and Price SupportGiancarlo Giudici, Roberto Arosio, Stefano Paleari — 2000
• Fire Sales and Information Advantage: When Informed Investor HelpsMassimo Massa, Lei Zhang — 2015

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• UNDERWRITER REPUTATION AND REPETITIVE PUBLIC OFFERINGSRichard B. Carter — 1992
• Changing underwriting practices on underpricing of U.S. global initial public offeringsKelly Cai, Hei Wai Lee, Magali Valero — 2010
• Underwriter Reputation and IPOs PerformanceDildar Khan Jadoon, Hazarat Ali — 2020
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• REGULATORY AND PROCEDURAL EFFECTS ON THE UNDERPRICING OF INITIAL PUBLIC OFFERINGSJ. F. Affleck‐Graves, Robert Miller — 1989
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