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 …

When companies go public, the equity they sell in an initial public offering tends to be
underpriced, resulting in a substantial price jump on the first day of trading. The underpricing …

We assemble a sample of over 10,000 customer–supplier relationships and determine
whether the customer owns equity in the supplier. We find that factors related to both …

It is well established that a link exists between a country's legal system and the size, liquidity,
and value of its capital markets. We study how differences in country-level governance affect …

Large blocks of stock play an important role in many studies of corporate governance and
finance. Despite this important role, there is no standardized data set for these blocks, and …

Investment Banking: Institutions, Politics, and Law provides an economic rationale for the
dominant role of investment banks in the capital markets, and uses it to explain both the …

Corporations uniquely have a tax preference for cash dividends. Nevertheless, dividends do
not increase following trades of large-percentage blocks of stock from individuals to …

The Sarbanes‐Oxley Act (SOX) requires the disclosure of whether the audit committee has a
financial expert. We examine disclosures related to audit committee financial experts …

Motivated by a lack of availability of theoretical review of Initial Public Offerings (IPO)
underpricing, this paper recognized a lack of presentation of theoretical explanations of the …

We investigate the effects of bank power, block ownership and board independence on the
likelihood of financial distress. Using a matched sample design, we find that firms in which …