Liquidity risk, leverage and long-run IPO returns

By B. Espen Eckbo, Øyvind Norli, Brad Barber, M. Cao, Tarun Chordia, Christopher C. Geczy, Wayne E. Ferson, Raymond Kan, Craig M. Lewis, Yang Liu and 2 more. 2005

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Does Sentiment Drive the Retail Demand for IPOs? (2009, unknown): “Note that other firm characteristics that have been linked to aftermarket returns, such as underwriter reputation, gearing, or turnover (Eckbo and Norli (2005)), fail to explain additional variation in aftermarket returns (not reported).”
Does Enhanced Disclosure Really Reduce Agency Costs? Evidence from the Diversion of Corporate Resources (2012, methodology): “As in Eckbo and Norli (2005), we add the momentum factor (UMD) and the liquidity factor (LIQ) to the three Fama-French factors to obtain the benchmark returns.”
The Empirical Analysis of Liquidity (2014, background): “[2009], Gerken [2009], Edmans et al. [2013], Fang et al.”
The relation between corporate financing activities, analysts’ forecasts and stock returns (2006, unknown): “1 A popular alternative hypothesis is that issuing firms are viewed as less risky by investors, and so are priced to yield lower expected return (see Eckbo, Masulis, and Norli (2000) and Eckbo and Norli (2005) for reviews).”