We review the theory and evidence on IPO activity: why firms go public, why they reward first‐
day investors with considerable underpricing, and how IPOs perform in the long run. Our …

The purpose of this monograph is to provide an overview of the IPO literature since 2000.
The fewer numbers of companies going public in recent years has raised many questions …

This study examines the impact of the COVID-19 outbreak on the stock markets of G-20
countries. We use an event study methodology to measure abnormal returns (ARs) and …

In the 1980s, the average first-day return on initial public offerings (IPOs) was 7%. The
average first-day return doubled to almost 15% during 1990-1998, before jumping to 65 …

Using a unique panel dataset that tracks corporate board development from a firm's IPO
through 10 years later, we find that:(i) board size and independence increase as firms grow …

We survey 336 chief financial officers (CFOs) to compare practice to theory in the areas of
initial public offering (IPO) motivation, timing, underwriter selection, underpricing, signaling …

This paper explores a model based on agents with heterogenous beliefs facing short sales
restrictions, and its explanation for the rise, persistence, and eventual fall of Internet stock …

We model an IPO company's optimal response to the presence of sentiment
investors.“Regular” investors are allocated stock that they subsequently sell to sentiment …

This article examines the issue of cross-sectional correlation in event studies. When there is
event-date clustering, we find that even relatively low cross-correlation among abnormal …

This paper examines performance effects of ownership concentration and two types of
private equity investors (venture capitalists and business angels) in firms that have recently …