Rational IPO Waves

By Ľuboš Pástor, Pietro Veronesi. 2005

434 citations recorded by the source corpus.

Subfields: Accounting, Finance

View Paper: https://www.semanticscholar.org/paper/6cffac9e4e3a10131671c421461dedb2b1636ee6

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Artyom Durnev
2. Jie He
3. Gonul Colak
4. Thomas J. Chemmanur
5. Evgeny Lyandres
6. Amy K. Dittmar
7. Xiaoyun Yu
8. T. Wang

In Finance

1. Artyom Durnev
2. Pietro Veronesi
3. Nicholas Barberis
4. Gonul Colak
5. Stijn Van Nieuwerburgh
6. Ľuboš Pástor
7. Evgeny Lyandres
8. Thomas J. Chemmanur

Citations in the corpus

• Diagnostic Expectations and Stock Returns (2019, background): “Pastor and Veronesi (2003, 2005, 2009) present rational learning models in which uncertainty about the fundamentals of some firms can yield predictability in aggregate stock returns.”
• The New Issues Puzzle: Testing the Investment-Based Explanation (2008, neutral): “Pástor and Veronesi (2005) Low investment-to-assets firms”
• The Variability of IPO Initial Returns (2010, result): “Our examination of the relation between secondary market volatility and IPO initial return volatility relates to the findings of Pastor and Veronesi (2005).”
• Corporate Fraud and Business Conditions: Evidence from IPOs (2010, methodology): “Our paper is related to the IPO literature that studies “hot” and “cold” IPO markets (e.g., Loughran and Ritter 2002, Lowry and Schwert 2002, Ljungqvist and Wilhelm 2003, Lowry 2003, Pastor and Veronesi 2005, and Cornelli, Goldreich, and Ljungqvist 2006).”
• Macroeconomic Conditions and the Puzzles of Credit Spreads and Capital Structure (2010, positive): “This result is consistent with the findings of Piazzesi and Schneider (2006). I use γ = 7.”
• Strategic IPOs and product market competition (2011, methodology): “In reality, timing is crucial in the going public decisions (e.g., Alti (2005), Benninga, Helmantel and Sarig (2005), and Pástor and Veronesi (2005)).”
• Capital Market-Driven Corporate Finance (2009, background): “See Pastor & Veronesi (2005) for an example of this approach.”
• IPO waves, product market competition, and the going public decision: Theory and evidence (2011, methodology): “Pastor and Veronesi (2005) argue that IPO waves are generated due to the "real option" effect of going public: entrepreneurs possess a real option to take their firms public, invest part of the IPO proceeds, and begin producing, and, in a setting of time-varying market conditions, choose the best…”