IPO Pricing in the Dot-Com Bubble

By Alexander P. Ljungqvist, William J. Wilhelm. 2003

945 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/1dae9ee94aca9036687dcd10c7d4d1e04b89e62f

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Citations in the corpus

Grandstanding, certification and the underpricing of venture capital backed IPOs (2004, neutral): “We update information on firm founding dates for 25% of the sample from data provided by Alexander Ljungqvist; data collection procedures employed by him are described in Ljungqvist and Wilhelm (2003) .”
The New Game in Town: Competitive Effects of IPOs (2010, neutral): “Since the literature documents some data issues with the SDC database, we follow Ljungqvist and Wilhelm (2003) in validating key variables, such as the date of the IPO and the SIC code, using the CRSP and Compustat databases.”
The Role of IPO Underwriting Syndicates: Pricing, Information Production, and Underwriter Competition (2005, background): “These patterns are consistent with those documented by Chen and Ritter (2000) and Ljungqvist and Wilhelm (2003) and suggest that the importance and functions of underwriting syndicates may be changing over time.”
The Economics of Conflicts of Interest in Financial Institutions (2006, neutral): “New explanations have emerged in response to these extremely large first-day returns, including behavioral explanations (Loughran and Ritter, 2002) and agency explanations (e.g., Ljungqvist and Wilhelm, 2003).”
The Economic Consequences of IPO Spinning (2010, neutral): “This variation has been the subject of study in Loughran and Ritter (2004), who propose a changing issuer objective function hypothesis, which consists of two parts.”
IPO Underpricing Over the Very Long Run (2009, neutral): “Ljungqvist and Wilhelm (2003) refine this hypothesis by arguing for the additional importance of managers' percentage equity ownership in motivating them to act as a good agent for shareholders and minimise underpricing (though Loughran and Ritter (2004) assert the value of their equity stakes are…”
Purchasing IPOs with Commissions (2011, neutral): “We also check Jay Ritter’s IPO Web site (http://bear.cba.ufl.edu/ritter/ipodata.htm) for possible SDC data errors and for the SDC data errors mentioned in footnote 4 of Ljungqvist and Wilhelm (2003); see http://pages.stern.nyu.edu/∼aljungqv/.”
Strategic alliances, venture capital, and exit decisions in early stage high-tech firms (2013, neutral): “The typical alliance contract in this setting affords project-level decision rights and monitoring provisions to the alliance partner (Robinson and Stuart, 2007a). This creates potential for conflicts of interest with venture capitalists (VCs), whose company-level investments create exit motives tha”
Cycles in the IPO market (2008, background): “On the managerial side, Ljungqvist and Wilhelm (2003) argue that CEO ownership can explain some of the underpricing spike seen during the internet bubble.”
The contagion effect of international crude oil price fluctuations on Chinese stock market investor sentiment (2017, background): “Indirect indicators indirectly reflect changes in investor sentiment, such as closed-end fund discounts [42,44– 46], IPOs and first-day returns [47,48], trading volume [48,49], net mutual fund redemptions and the proportion of fund assets held in cash [42,46], etc.”
Financial Wealth, Socioemotional Wealth, and IPO Underpricing in Family Firms: A Two-stage Gamble Model (2017, neutral): “The family owners’ decision on degree of ownership retention has important consequences on their ability to enjoy continued family control and influence after the IPO (Barry, 1989; Ljungqvist & Wilhelm, 2003; Rouse, 2016), hence it can critically influence their expectations of future SEW outcomes.”