We analyze the effect of initial public offerings (IPOs) on industry competitors and provide
evidence that companies experience negative stock price reactions to completed IPOs in …

We examine the impact of initial public offerings (IPOs) on rival firms and find that the
valuation effects are insignificant. This insignificant reaction can be explained by offsetting …

We analyze 3,547 initial public offerings (IPOs) from 1985 through 2003 to determine the
impact of acquisition activity on long-run stock performance. The results show that IPOs that …

Many commentators have portrayed the tech boom of the late 1990s as an era of
unprecedented deterioration in the quality of firms undertaking initial public offerings. But as …

The pricing of inital public offerings (IPOs) is difficult, both because there is no observable
market price prior to the offering and because many of the issuing firms have little or no …

We propose that the long-run performance of IPOs is a function of pre-IPO factors, including
managerial decisions and the firm's performance prior to going public. We relate long-run …

We examine factors that influence the choice between an initial public offering (IPO) and a
takeover by a public acquirer. Our results show that the industry concentration, high‐tech …

Initial public offerings underperform in the long run; however, there is very little evidence on
their cross‐sectional variation. Using a random sample of IPOs from 1987 through 1991 and …

This study uses an integrated and comprehensive approach to study the evolution of IPO
issuing firms to the three basic post‐IPO states: survive as an independent firm, get …

The IPO market provides an interesting setting for examining the behavior of private equity
(PE) sponsors due to the higher information asymmetries it involves compared to other exit …