The Initial Public Offerings of Listed Firms

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Strategic IPOs and product market competition (2011, background): “…(e.g., Benveniste and Spindt (1989) and Dow and Gorton (1997)), which in turn lowers the costs of subsequent seasoned equity o¤erings (e.g., Derrien and Kecskés (2007)), allows consumers to infer the rm s product quality from its stock price (e.g., Stoughton, Wong and Zechner (2001)),…”
IPO Underpricing Over the Very Long Run (2009, unknown): “Derrien and Kecskés (2007) note that underpricing is lower for new issues that already had a prior trading history.”
The impact of audit quality on real and accrual earnings management around IPOs (2017, background): “8 Underwriters are those global investment banks as defined by Derrien and Kecskes (2007), while venture capitalist are those investors who hold more than 3% of a firm’s shares and appear in the list of venture capitalists provided by British Venture Capitalist Association.”
A Theory of Merger-Driven IPOs (2011, unknown): “Derrien and Kecskés (2007) argue that the main reason for U.K. firms to list their shares without issuing new equity is the resulting reduction in valuation uncertainty, which leads to lowering the costs of subsequent equity offerings.”