Unveiling differential patterns in IPO and SEO underpricing: a comparative analysis of high-quality and low-quality firms

被引：0

作者：

Panda, Amrit ^{[1
]}

Deb, Soumya Guha ^{[1
,2
]}

机构：

[1] Indian Inst Management Sambalpur, Sambalpur, Orissa, India

[2] Indian Inst Management Sambalpur, Sambalpur 768019, Orissa, India

来源：

APPLIED ECONOMICS LETTERS | 2025年 / 32卷 / 03期

关键词：

Seasoned-equity-offerings (SEOs); Initial-public-offerings (IPOs); underpricing; information-asymmetry;

D O I：

10.1080/13504851.2023.2269624

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper uses cross-country SEO data from 2001 to 2021 to show that the underpricing in each future SEO round reduces, and this happens at a faster rate for high-quality firms. We posit that, especially, high-quality firms, tend to underprice their IPOs with an expectation to recoup the lost proceeds in future SEO rounds. We also find that various firm-level factors, such as the time elapsed since the IPO, IPO-underpricing, ex-ante uncertainty, and relative offer-size of the SEO, affect this association between SEO rounds and SEO-underpricing. Our results are robust and remain unaltered across a series of robustness tests.

引用

页码：337 / 345

页数：9

共 50 条

[21] Endocuff to Improve Adenoma Detection: Supported by Low-Quality Evidence or Not Supported by High-Quality Evidence?
Zhang, Yao
Zhao, Sheng-Bing
Bai, Yu
CLINICAL GASTROENTEROLOGY AND HEPATOLOGY, 2018, 16 (06) : 984 - 985
[22] Indexation and misorientation analysis of low-quality Laue diffraction patterns
Gupta, Vipul K.
Agnew, Sean R.
JOURNAL OF APPLIED CRYSTALLOGRAPHY, 2009, 42 : 116 - 124
[23] What Makes a Good Counselor? Learning to Distinguish between High-quality and Low-quality Counseling Conversations
Perez-Rosas, Veronica
Wu, Xinyi
Resnicow, Kenneth
Mihalcea, Rada
57TH ANNUAL MEETING OF THE ASSOCIATION FOR COMPUTATIONAL LINGUISTICS (ACL 2019), 2019, : 926 - 935
[24] Low-quality birds do not display high-quality signals: The cysteine-pheomelanin mechanism of honesty
Galvan, Ismael
Wakamatsu, Kazumasa
Camarero, Pablo R.
Mateo, Rafael
Alonso-Alvarez, Carlos
EVOLUTION, 2015, 69 (01) : 26 - 38
[25] PLASMA-ETCHING EFFECT ON DANGLING BONDS AND NONDIAMOND COMPONENTS IN LOW-QUALITY AND HIGH-QUALITY DIAMOND FILMS
WATANABE, I
HARUTA, K
SHIMAMURA, Y
JAPANESE JOURNAL OF APPLIED PHYSICS PART 1-REGULAR PAPERS SHORT NOTES & REVIEW PAPERS, 1994, 33 (4A): : 2035 - 2040
[26] High-quality systematic review shows that there is low-quality evidence regarding the effects of interventions to treat oral halitosis
Brignardello-Petersen, Romina
JOURNAL OF THE AMERICAN DENTAL ASSOCIATION, 2020, 151 (08): : E61 - E61
[27] High-quality research is needed much more than commonly published (low-quality) meta-analyses
Kezirian, Eric James
JOURNAL OF CLINICAL SLEEP MEDICINE, 2021, 17 (09): : 1961 - 1962
[28] FORAGE INTAKE AND PERFORMANCE OF LACTATING BEEF-COWS GRAZING HIGH-QUALITY OR LOW-QUALITY FESCUE PASTURES
HOLLOWAY, JW
HOPPER, JT
BUTTS, WT
BEATY, JD
HALL, NS
TENNESSEE FARM & HOME SCIENCE, 1978, (106): : 13 - 16
[29] Differences in Use of High-quality and Low-quality Hospitals Among Working-age Individuals by Insurance Type
Popescu, Ioana
Heslin, Kevin C.
Coffey, Rosanna M.
Washington, Raynard E.
Barrett, Marguerite L.
Karnell, Lucy H.
Escarce, Jose J.
MEDICAL CARE, 2017, 55 (02) : 148 - 154
[30] RUMINAL MICROBIAL-POPULATIONS AND FERMENTATION CHARACTERISTICS IN BISON AND CATTLE FED HIGH-QUALITY AND LOW-QUALITY FORAGE
TOWNE, G
NAGARAJA, TG
COCHRAN, RC
MICROBIAL ECOLOGY, 1989, 17 (03) : 311 - 316

← 1 2 3 4 5 →