Strategic IPO Underpricing, Information Momentum, and Lockup Expiration Selling

By Rajesh K. Aggarwal, L. Krigman, Kent L. Womack. 2002

442 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/9dae4f064f7823112ec072116744a289ee25f01e

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Citations in the corpus

Analysts' Selective Coverage and Subsequent Performance of Newly Public Firms (2006, background): “For recent IPOs issued in 1990s, our average coverage ratio of 84.39% for sample firms during 1994-1999 within six months of issuance is comparable to a ratio of 83.98% reported by Aggarwal et al (2002) on a chosen sample of 618 internet and non-internet IPOs issued in the same time period.”
Which Types of Analyst Firms Are More Optimistic (2006, background): “…and Womack, 1999; Dechow et al., 2000), permitting investors who ‘‘flipped’’ the stock soon after the issue to earn an attractive short-term gain (see Aggarwal, 2002).5 2Our descriptions of research funding and analyst remuneration practices draw heavily from interviews with research directors…”
Does Sentiment Drive the Retail Demand for IPOs? (2009, background): “Moreover, IPOs especially sought after by retail investors in the WI market, or the aftermarket, experience longer-run returns that are systematically below returns of the broad stock market, same-industry stocks, stocks with similar size and market-to-book (MTB) characteristics, and IPOs that are…”
Earnings Quality and International IPO Underpricing (2011, unknown): “2 See for example Aggarwal et al. (2002), Smart and Zutter (2003), Loughran and Ritter (2004).”
The Role of Lockups in Initial Public Offerings (2003, background): “…from selling until after the lockup expiration, engaging in earnings management prior to the release is clearly in their selfinterest [Rajan and Servaes (1995), Brav, Cornelli, and Heaton, (2001), Aggarwal, Krigman, and Womack (2001)]. governing insider trading and information disclosure?”
Wanna Dance? How Firms and Underwriters Choose Each Other (2005, unknown): “This sample is used to compute the main underwriter reputation measure, which is based on Megginson and Weiss (1991) and is calculated as in Aggarwal et al. (2002).19 This measure of underwriter quality is market-share based and is a continuous variable on [0,100].”
Local Underwriter Oligopolies and IPO Underpricing (2011, unknown): “For example, Aggarwal, Krigman, and Womack (2002) find that research 21 Using I/B/E/S data for our 1993-2008 IPOs, we calculate the abnormal three-day announcement returns for recommendations in the two years after the IPO day as the compounded three-day stock return from the event day 0 to day 2…”
Equilibrium in the Initial Public Offerings Market (2011, background): “Notable exceptions that assume that α2 > 0 include the signaling models of Allen and Faulhaber (1989), Grinblatt and Hwang (1989), and Welch (1989), and the analyst coverage models of Chemmanur (1993) and Aggarwal, Krigman, and Womack (2002).”