The Pricing of Initial Public Offerings: Tests of Adverse-Selection and Signaling Theories

A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity

1980 • 25,774 citations

Limited-dependent and qualitative variables in econometrics

1983 • 13,615 citations

Large Shareholders and Corporate Control

1986 • 8,353 citations

Regression Diagnostics

1980 • 6,774 citations

INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION

1977 • 4,200 citations

Informational Asymmetries, Financial Structure, and Financial Intermediation

1977 • 3,499 citations

The Long‐Run Performance of initial Public Offerings

1991 • 3,447 citations

Takeover Bids, The Free-Rider Problem, and the Theory of the Corporation

1980 • 3,168 citations

Why new issues are underpriced

1986 • 2,752 citations

Investment banking, reputation, and the underpricing of initial public offerings

1986 • 2,555 citations

Initial Public Offerings and Underwriter Reputation

1990 • 2,505 citations

How investment bankers determine the offer price and allocation of new issues

1989 • 1,840 citations

A Course in Microeconomic Theory

2020 • 1,728 citations

The "Hot Issue" Market of 1980

1984 • 1,658 citations

Equity issues and offering dilution

1986 • 1,479 citations

Signalling by underpricing in the IPO market

1989 • 1,463 citations

Price performance of common stock new issues

1975 • 1,377 citations

INITIAL PUBLIC OFFERINGS

1988 • 1,285 citations

Valuation effects of security offerings and the issuance process

1986 • 1,281 citations

Seasoned Offerings, Imitation Costs, and the Underpricing of Initial Public Offerings

1989 • 1,239 citations

A Course in Microeconomic Theory

1990 • 1,234 citations

Signalling and the Pricing of New Issues

1989 • 1,046 citations

Investment banking and the capital acquisition process

1986 • 1,024 citations

Price Reactions to Dividend Initiations and Omissions: Overreaction or Drift?

1995 • 1,000 citations

Seasoned equity offerings

1986 • 943 citations

A Model of the Demand for Investment Banking Advising and Distribution Services for New Issues

1982 • 916 citations

The Long-Run Performance of Initial Public Offerings

1991 • 889 citations

Information Asymmetries, Financial Structure, and Financial Intermediation

1977 • 828 citations

The costs of going public

1987 • 723 citations

Capital raising, underwriting and the certification hypothesis

1986 • 700 citations

“HOT ISSUE” MARKETS

1975 • 607 citations

Anatomy of Initial Public Offerings of Common Stock

1988 • 604 citations

Valuation effects of corporate debt offerings

1986 • 490 citations

Seasoned Offerings, Imitation Costs, and the Underpricing of Initial Public Offerings

1989 • 466 citations

On the Pricing of Unseasoned Equity Issues: 1965-1969

1973 • 464 citations

A comparative analysis of IPO proceeds under alternative regulatory environments

1990 • 461 citations

An empirical investigation of IPO returns and subsequent equity offerings

1993 • 456 citations

Initial Public Offerings and Underwriter Reputation

1990 • 408 citations

A comparison of equity carve-outs and seasoned equity offerings

1986 • 392 citations

The Estimation of a Simultaneous-Equation Tobit Model

1979 • 368 citations

Borrowing relationships, intermediation, and the cost of issuing public securities

1990 • 291 citations

Litigation Risk, Intermediation, and the Underpricing of Initial Public Offerings

1992 • 276 citations

Signalling and the Pricing of New Issues

1989 • 238 citations

Consistent Estimation of Cross-Sectional Models in Event Studies

1990 • 207 citations

A Model of the Demand for Investment Banking Advising and Distribution Services for New Issues

1982 • 195 citations

"Hot Issue" Markets

1975 • 193 citations

A direct test of Rock's model of the pricing of unseasoned issues

1989 • 192 citations

Initial public offerings of equity securities

1992 • 146 citations

THE UNDERPRICING OF “SECOND” INITIAL PUBLIC OFFERINGS

1989 • 62 citations

PRICE PERFORMANCE OF INITIAL PUBLIC OFFERINGS OF MASTER LIMITED PARTNERSHIP UNITS

1988 • 22 citations