This paper studies the two potentially contrasting effects on IPO pricing and post-IPO operating performance of family ties as well as social ties the top management has with board members. While family ties may solve manager-owner conflicts of interests, they may also give rise to...

This paper examines the conditions under which CEOs are able to affect the timing and the price of the stock options they are granted at the time of their firm's IPO. Contrary to Lowry and Murphy (2007) who do not find a relationship between IPO grants and IPO underpricing, this paper finds such...

While recent studies have concentrated on why value outperforms growth, this paper verifies whether over performance level has changed over the recent period within the euro-zone, and whether these strategies are sensitive to earnings growth level, country or industry factors. Results show that...

Using data for 831 IPO firms listed from 1986 to 1998 in the UK, France, Germany and Italy, this paper investigates the inter-relationships between Ramp;D and growth opportunities in different national systems of corporate governance. Results indicate that growth opportunities are positively...

This paper brings additional insights to numerous studies on the relationship between gross spreads, underpricing, and the underwriting industry. Using a sample of 200 French IPOs over the period 1996-2000, an average gross spread of 7.23% was found in an unconcentrated underwriting market...