Footnotes 1 . See Roger G. Ibbotson Price Performance of Common Stock New Issues ,” Journal of Financial Economics 2 ( 1975 ), 235 – 272 . 2 . For a discussion of the international evidence, see Tim Loughran , Jay Ritter , and Kristian Rydqvist , “ Initial Public Offerings: International Insights ,” Pacific-Basin Finance Journal 2 ( March 1994 ) . 3 . The conclusions regarding underpricing seem to be fairly insensitive to the length of the initial return interval, and whether (or how) market risk adjustments are made. For evidence on this, see Robert Miller and Frank Reilly, “An Examination of Mispricing, Returns, and Uncertainty for Initial Public Offerings,” Financial Management (Summer 1987), 33‐38 and Chris Barry and Robert Jennings, “The Opening Price Performance of Initial Public Offerings of Common Stock,” Financial Management (Spring 1993), 54–63. 4 . Hot issue markets were first documented in the academic literature by one of the present writers. See Roger G. Ibbotson and Jeffrey F. Jaffe , “ ‘Hot Issue’ Markets ,” Journal of Finance 30 ( 1975 ), 1027 – 1042 . 5 . Similar patterns are reported by Andrew Chalk and John Peavy, “Initial Public Offerings: Daily
Journal of Applied Corporate Finance – Wiley
Published: Mar 1, 1994
It’s your single place to instantly
discover and read the research
that matters to you.
Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.
All for just $49/month
Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly
Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.
Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.
Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.
All the latest content is available, no embargo periods.
“Hi guys, I cannot tell you how much I love this resource. Incredible. I really believe you've hit the nail on the head with this site in regards to solving the research-purchase issue.”Daniel C.
“Whoa! It’s like Spotify but for academic articles.”@Phil_Robichaud
“I must say, @deepdyve is a fabulous solution to the independent researcher's problem of #access to #information.”@deepthiw
“My last article couldn't be possible without the platform @deepdyve that makes journal papers cheaper.”@JoseServera