Recognizing that initial public offerings (IPOs) represent the debut of private firms on the public stage, this study investigates how pre-IPO customer and competitor orientations (CCOs) affect IPO outcomes. Building on information economics, we propose that CCOs influence investors' sentiments...

This study examined how intangible assets of Japanese biotechnology startups affected their intention to go public at one point and their actual initial public offering. Simple patent counts did not affect startups’ intention to go public in 2005. Among several indicators of patent quality,...

(VF)Cette étude analyse l’évolution des performances opérationnelles et boursières d’un échantillon de 379 introductions en bourse réalisées en France entre 1990 et 2003 sur les second et nouveau marchés. Les résultats montrent que les performances opérationnelles des entreprises...

This study investigates the relation between IPO underwriting and subsequent lending. We find that when a bank underwrites a firm’s IPO, the bank is more likely to provide the issuer with future loans at a lower cost, compared to banks without an IPO underwriting relationship. The evidence...

This paper shows that incentives created by the impending turnover of local politicians can accelerate the pace of initial public offering (IPO) activity in certain politicized environments. Focusing on China, we exploit a research setting where politicians are rewarded for capital market...

In this paper, we study the underpricing, long-run performance of IPOs and the impact of underpricing on secondary market liquidity of IPOs which were issued in India during the period 2000-2008. The average underpricing for Indian IPOs is 37%. Uncertainty, information asymmetry and investor...

Capital market offers a wide range of options for financing companies, which can be tailored to meet their exact needs. Thus, they have the opportunity of primary security sale (shares and bonds) on the stock exchange, which may take place through a tender, in which case the financial...

We conducted prediction markets designed to forecast post-initial public offering (IPO) valuations before a particularly unique IPO: Google. The prediction markets forecast Google's post-IPO market capitalization relatively accurately. While Google's auction-based IPO price was 15.3% below the...

This study of initial public offerings (IPOs) carried out on the Berlin and London stock exchanges between 1900 and 1913 casts doubt on the received �law and finance� wisdom that legally mandated investor protection is pivotal to the development of capital markets. IPOs that resulted...