Venture Capital and IPO Lockup Expiration: An Empirical Analysis

By D. Bradley, Bradford D. Jordan, Ha-Chin Yi, Ivan C. Roten. 2001

225 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/2cbf7b582b423288287d7554d03d062a537b3dbd

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Citations in the corpus

The Outbreak of COVID-19 and Stock Market Responses: An Event Study and Panel Data Analysis for G-20 Countries (2020, background): “Similarly, Bradley et al. (2001), Eli and Richardson (2000) and Field and Hanka (2001) found a significant association between the trading volume and ARs around company-specific events. where AR i,t is the AR of index i at day t , lnconfCases is the natural logarithm of confirmed coronavirus cases…”
Investment Banking and Securities Issuance (2003, background): “Bradley, Jordan, Roten and Yi (2001) , Field and Hanka (2001) and Brav and Gompers (2003) document that, in the week that the lockup expires, share prices fall approximately 2%. This is not an announcement effect, in that the date that the lockup will end is known at the time of the IPO.”
Stocks are Special Too: An Analysis of the Equity Lending Market (2002, background): “Previous research (e.g. Field and Hanka (2001), Ofek and Richardson (2000), Brav and Gompers (2001)) has shown an abnormally large negative return across expiration, and a spike in trading volume that settles down at 40% above the pre-expiration level.”
Asset Float and Speculative Bubbles (2006, unknown): “Price Change across the Lockup Expiration Date Empirical evidence suggests that stock prices tend to decline on the day of the event (see Brav and Gompers (2003), Bradley et al. (2001), Field and Hanka (2001), Ofek and Richardson (2000)).”
Does Insider Trading Impair Market Liquidity? Evidence from IPO Lockup Expirations (2004, background): “Figure 1 plots the time series of daily trading volume, showing the large post-expiration changes in trading volume that have been reported previously in Bradley et al. (2001) and Field and Hanka (2001).”
Analyst Behavior Following IPOs: The “Bubble Period” Evidence (2008, methodology): “tent with the findings of Bradley et al. (2003), who documented a pronounced stock price run-up before the quiet period expires.”
Failure is an Option: Impediments to Short Selling and Options Prices (2009, background): “1 See Field and Hanka (2001), Keasler (2001), Ofek and Richardson (2000), Brav and Gompers (2003) and Bradley et al. (2001). 2 See Jensen and Ruback (1983) or Asquith (1983).”
Why Has IPO Underpricing Changed Over Time (2002, unknown): “The evidence of stock price effects for analyst initiations at the end of the quiet period (Bradley et al., 2003 and Ofek and Richardson, 2003), and for selling pressure at the end of the lockup period ( Bradley, Jordan, Roten, and Yi, 2001; Brav and Gompers, 2003; and Field and Hanka, 2001) sugges”
Strategic IPO Underpricing, Information Momentum, and Lockup Expiration Selling (2002, unknown): “Bradley et al. (2001) provide evidence that six-month returns through the end of the lockup period are positively related to the number of analysts initiating research coverage.”