Stabilization Activities by Underwriters after Initial Public Offerings

By Rajesh K. Aggarwal. 2000

357 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7e68f75773ea6869692b89e58824956ad0d8c43f

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Citations in the corpus

Bids and Allocations in European IPO Bookbuilding (2004, background): “9 More generally, Aggarwal (2000) analyses how investment banks monitor closely the trading activities of the investors to whom they allocate stock at the IPO and, in some circumstances, penalise flippers.”
The Impact of Fundamentals on IPO Valuation (2009, unknown): “Aggarwal (2000) notes that many IPOs have an over-allotment option that allows underwriters to sell additional shares upto 15 percent of the offering size for 30 days after the offering.”
Discounting and underpricing in seasoned equity offers (2003, background): “Wilhelm (1999) and Aggarwal (2000) report that lead banks in unseasoned offers never use formal, or pure, stabilization.”
IPO Pricing in “Hot” Market Conditions: Who Leaves Money on the Table? (2005, background): “Aggarwal (2000) and Ellis, Michaely, and O’Hara (2000) provide evidence that underwriters intervene to stabilize the price of IPO stocks that exhibit poor aftermarket performance.”
Short Selling Around Seasoned Equity Offerings (2010, unknown): “Wilhelm (1999), Aggarwal (2000), Ellis, Michaely and O’Hara (2000), Boehmer and Fishe (2002) and Zhang (2004), among others].”
IPO Research in Management and Entrepreneurship: Moving the Agenda Forward (2009, background): “Much of this work focused on the initial and aftermarket price behavior of IPOs, producing two important and robust findings (Aggarwal, 2000; Benveniste & Spindt, 1989; Cornelli & Goldreich, 2001, 2003).”
Initial Public Offerings: An Analysis of Theory and Practice (2006, unknown): “The overallotment (Green Shoe) option ( Aggarwal (2000) , Zhang (2004)) Moderate Support—CFOs view the overallotment option as an issue that merits attention in managing the IPO process”
On the Marketing of IPOs (2006, unknown): “Further, the effects of these influences on initial returns do not fully capture the effect of initial returns on insider wealth gains, which is consistent with the information momentum effect observed in Aggarwal et al. (2002). Aggarwal et al.”
Executive stock options and IPO underpricing (2007, background): “11 Aggarwal (2000) shows that underwriters are generally not actively involved in price support activities a month after the offering. 12 We have also examined the possibility that IPO options represent an eleventh-hour payment to executives in cases where it becomes apparent that the offering will ”
Why Don't Issuers Get Upset About Leaving Money on the Table in Ipos? (2002, unknown): “Sixteen percent of IPOs close the first day at the offer price, a feature widely attributed to stabilization activities on the part of underwriters [see Hanley, Kumar, and Seguin (1993), Jenkinson and Ljungqvist (1996, p. 76), and Aggarwal (2000)].”
Do investment banks compete in IPOs?: the advent of the "7% plus contract" (2001, background): “I exclude the "rst 30 days because underperforming o!ers in this period are often stabilized (Aggarwal, 2000; Ellis et al., 2000), which can drive measured volatility towards zero.”
Conveying Quality and Value in Emerging Industries: Star Scientists and the Role of Learning in Biotechnology (2011, unknown): “An advantage of focusing on proceeds is that we avoid issues of overallotmentallocations (Aggarwal, 2000;Ritter andWelch, 2002)”
Allocation of initial public offerings and flipping activity (2003, background): “However, Aggarwal (2000) and Benvenuste, Busaba, and Wilhelm (1996) also discuss the use of penalty bids to control flipping, particularly in weak IPOs.”
Global trends in IPO methods: Book building versus auctions with endogenous entry (2005, unknown): “See Aggarwal (2000), Boehmer and Fishe (2001), and Fishe (2002) for more information on flipping in IPOs. information asymmetries.”