The option to withdraw IPOs during the premarket: empirical analysis
By Walid Y. Busaba, Lawrence M. Benveniste, R. Guo. 2001
190 citations recorded by the source corpus.
Subfields: Accounting, Finance
View Paper: https://www.semanticscholar.org/paper/eb5f63ff1797a4d6c96a2761979677a3fe16d40c
How researchers see this paper
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In Accounting
- Oya Altinkiliç
- Robert S. Hansen
- Julien Hugonnier
- H. Hsu
- Erwan Morellec
- Semyon Malamud
- Adam V. Reed
- Jörg Rocholl
In Finance
- Oya Altinkiliç
- Julien Hugonnier
- Erwan Morellec
- Semyon Malamud
- Robert S. Hansen
- Adam V. Reed
- Jörg Rocholl
- Gustavo Manso
Citations in the corpus
- Issuer surplus and the partial adjustment of IPO prices to public information (2005, unknown): “In constructing these portfolios we exclude firms in the top quartile of market capitalization for each industry to approximately match on size as well as industry.”
- Capital Supply Uncertainty, Cash Holdings, and Investment (2014, background): “For example, Busaba, Benveniste, and Guo (2001) show that between the mid-1980s and mid-1990s almost one in five IPOs was withdrawn.”
- Social Capital of Young Technology Firms and Their IPO Values: The Complementary Role of Relevant Absorptive Capacity (2011, unknown): “Although the difference between the initial offer value and total price to public indicates that original shareholders typically retain a large proportion of shares outstanding on IPO (e.g., Busaba, Benveniste, and Guo 2001), these two measures are highly correlated (.81).”
- Evidence Of Information Spillovers In The Production Of Investment Banking Services (2003, unknown): “This is inconsistent with the argument in Busaba, Benveniste, and Guo (2001), where a greater withdrawal probability is interpreted as providing issuers with more bargaining power in extracting information from investors (and so less money is left on the table).15 The economic magnitude of our…”
- Discounting and underpricing in seasoned equity offers (2003, background): “Busaba, Benveniste, and Guo (2001) report a negative effect and suggest that issuers who are more likely to withdraw their offers have more power negotiating with the lead bank.”
- The New Game in Town: Competitive Effects of IPOs (2010, background): “C.5), we follow Opler and Titman (1994) and Campello (2003) by measuring firm performance as the change in log sales (Models 1–4 of Table VI).”