Partial Adjustment to Public Information and IPO Underpricing

By D. Bradley, Bradford D. Jordan. Journal of Financial and Quantitative Analysis, 2002

521 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/b20b8198a6248a0b3049c424ea93a427af860df9

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Citations in the corpus

Litigation Risk, Strategic Disclosure and the Underpricing of Initial Public Offerings (2012, methodology): “Risk is equal to (1/Pmid) as in Bradley and Jordan (2002). Matched volatility is the log of firm risk as measured using the matching method in Lowry and Shu (2002). Informative content and Standard content measure the informativeness of the initial prospectus, and the degree to which the”
Discounting and underpricing in seasoned equity offers (2003, background): “…is larger in unseasoned offers by firms in high-technology industries (see, for example, Mola and Loughran, 2001; Lowry and Schwert, 2001; Bradley and Jordan, 2002) and when underpricing of other recent unseasoned offers is higher (Bradley and Jordan, 2002; Benveniste, Wilhelm, and Yu,…”
Why Has IPO Underpricing Changed Over Time (2002, unknown): “more than those without.5 In the 1990s and internet bubble years, IPOs had high returns when a relatively small fraction of the firm was sold in the IPO, as measured by the ratio of retained shares to issued shares, called share overhang by Bradley and Jordan (2002) .”
Negotiation and the IPO Offer Price: A Comparison of Integer vs. Non-Integer IPOs (2004, unknown): “Our measure of overhang is from Bradley and Jordan (2001), as is the”
Venture Capital Investment And The Performance Of Entrepreneurial Firms: Evidence From China (2013, background): “However, Bradley and Jordan (2002) assert that after controlling for industry effects and underwriter quality, no difference exists in the underpricing of VC-backed and non-VC-backed IPOs.”
Is the IPO pricing process efficient (2004, methodology): “Prior literature (e.g., Hanley, 1993; Loughran and Ritter, 2002a; Bradley and Jordan, 2002) has used the midpoint of this price range as an unbiased predictor of the ultimate offer price.”
Innovation, Appropriability, And The Underpricing Of Initial Public Offerings (2007, background): “Brav and Gompers (2003) found that VC-backed offerings were more underpriced, and Bradley and Jordan (2002) found no difference in underpricing between IPOs with and without VC backing after controlling for market exchange and underwriter.”
Going Public to Acquire? The Acquisition Motive in IPOs (2010, unknown): “A potential concern with the results on offer price revision is that it is highly correlated with the level of underpricing as shown by Hanley (1993) and Bradley and Jordan (2002).”
The Economic Consequences of IPO Spinning (2010, unknown): “17 share overhang, defined as the ratio of retained shares to the public float (shares issued), as an additional control variable (see Bradley and Jordan (2002)).”
Initial Public Offerings: An Analysis of Theory and Practice (2006, unknown): “Overhang measures the size of the public float and is defined as the quantity of shares outstanding prior to the offer minus the number of secondary shares all divided by the total shares offered in the IPO (see Bradley and Jordan (2002)).”
Local Underwriter Oligopolies and IPO Underpricing (2011, unknown): “In addition, we include share overhang, defined as the ratio of retained shares to the public float (shares issued), as an additional control variable (see Bradley and Jordan, 2002). This variable captures both incentive effects and valuation effects.(14) We also include industry fixed effects based”