Are share price levels informative? Evidence from the ownership, pricing, turnover and performance of IPO firms
By Chitru S. Fernando, Srinivasan Krishnamurthy, P. Spindt. 2004
140 citations recorded by the source corpus.
Subfields: Accounting, Finance
View Paper: https://www.semanticscholar.org/paper/f294f156cf4388766349c4691aeef5db2963bef8
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Accounting
- Elizabeth Blankespoor
- Baolian Wang
- Bradley E. Hendricks
- Gregory S. Miller
- Justin Birru
- Scott D. Dyreng
- Feng Li
- Christina Zhu
In Finance
- Elizabeth Blankespoor
- Baolian Wang
- Bradley E. Hendricks
- Gregory S. Miller
- Justin Birru
- Scott D. Dyreng
- Feng Li
- Christina Zhu
Citations in the corpus
- Nominal price illusion (2016, background): “…finds additional evidence of investor price-level preferences, documenting an increase in the number of small shareholders following a split to a lower price level, while Fernando, Krishnamurthy, and Spindt (2004) find that IPO offer price plays a strong role in determining investor composition.”
- Perceptions and Price: Evidence from CEO Presentations at IPO Roadshows (2017, background): “…properties (Beatty, Riffe, and Thompson, 2000; Hand, 2003) and (2) price per share because the clustering of issuances around a single price (typically $15, per Fernando, Krishnamurthy, and Spindt, 2004) results in highly unstable results and little explanatory power in a price per share…”