24
Views
19
CrossRef citations to date
0
Altmetric
Original Articles

Initial Public Offerings on the Unlisted Securities Market: The Impact of Professional Advisers

&
Pages 19-34 | Published online: 28 Feb 2012

References

  • Akerlof , G. A. 1970 . The Market for ‘Lemons’: Quality Uncertainty and the Market Mechanism . Quarterly Journal of Economics, 84 , 488 – 500 .
  • Balvers , R. J. , McDonald , B and Miller , R. E. 1988 . Discounting of New Issues and the Choice of Auditor as a Signal of Banker Reputation . Accounting Review, 4 , 605 – 621 .
  • Bank of England (1990), ‘New Equity Issues in the U.K.’, Bank of England Quarterly Review, September
  • Barfield , R. M. and Comiskey , E. E. 1979 . The Differential Association of Forecast Error and Earnings Variability with Systematic Risk . Journal of Business Finance and Accounting , 6 ( 1 ) 1 – 8 .
  • Barry , C. B. 1989 . Initial Public Offer Underpricing: The Issuer's View—A Comment . Journal of Finance , September : 1099 – 1103 .
  • Baron , D. P. 1982 . A Model for the Demand for Investment Bank Advising and Distribution Services for New Issues . Journal of Finance, 37 , 955 – 976 .
  • Beatty , R. P. 1989 . Auditor Reputation and the Pricing of Initial Public Offerings . Accounting Review , 693 – 709 .
  • Beatty , R. P. and Ritter , J. R. 1986 . Investment Banking, Reputation, and the Discounting of Initial Public Offerings . Journal of Financial Economics , 15 213 – 232 .
  • Berry , W. D. and Feldman , S. 1985 . Multiple Regression in Practice , London : Sage University Press .
  • Bhaskar , K. N. and Morris , R. C. 1984 . The Accuracy of Brokers' Profit Forecasts in the UK . Accounting and Business Research , Spring : 113 – 124 . 1984
  • Breusch , t. S. and Pagan , A. R. 1979 . A Simple Test for Heteroscedasticity and Random Coefficient Variation . Econometrica, 47 , 1287 – 1294 .
  • Buckland , R. and Davis , E. W. 1989 . The Unlisted Securities Market, Oxford , Clarendon Press .
  • Buckland , R. and Davis , E. W. 1990 . The Pricing of New Issues on the Unlisted Securities Market: the Influence of Firm Size in the Context of the Information Content of New Issue Prospectuses . British Accounting Review , 3 207 – 222 .
  • Buckland , R. , Herbert , P. J. and Yeomans , K. A. 1981 . Price Discounts on New Equity Issues in the UK and their Relationship to Investor Subscription in the Period . Journal of Business Finance and Accounting , 8 79 – 95 .
  • Buckland , R. and Yeomans , K. A. 1976 . Market Efficiency: the Role of the Issuing House . Journal of Economic Studies , 4 59 – 66 .
  • Consensus Research International (1986, 1987, 1988, 1989), The Annual Broker Survey
  • D'Agostino , R. B. 1971 . An Omnibus Test of Normality for Moderate and Large Sample Sizes . Biometrika , 2 341 – 348 .
  • Davis , E. W. and Yeomans , K. A. 1976 . Market Discount on New Issues of Equity: the Influence of Firm Size, Method of Issue and Market Volatility . Journal of Business Finance and Accounting , 4 27 – 42 .
  • Davis , E. W. and Yeomans , K. A. 1974 . Company Finance and the Capital Market , Cambridge University Press .
  • Dawson , S. M. 1987 . Initial Public Offer Underpricing: The Issuer's View—A Note . Journal of Finance , March : 159 – 162 .
  • De Angelo , L. E. 1981 . Auditor Size and Audit Quality . Journal of Accounting and Economics , 3 183 – 189 .
  • Freund , J. E. and Walpole , R. E. 1987 . Mathematical Statistics , Prentice-Hall, NJ .
  • Grinblatt , M. and Hwang , C. 1989 . Signalling and the Price of New Issues . Journal of Finance , 2 333 – 419 .
  • Ibbotson , R. G. 1975 . Price Performance of Common Stock New Issues . Journal of Financial Economics , 2 235 – 272 .
  • Ibbotson , R. G. and Jaffe , J. F. 1975 . Hot Issue Market . Journal of Finance , 4 1027 – 1042 .
  • Keasey , K. 1991 . Empirically Testing the Winner's Curs Model of the Underpricing of Initial Public Offerings: A Point of Clarification . Royal Economic Society Newsletter , Autumn 1991
  • Keasey , K. and McGuinness , P. 1991 . Prospectus Earning Forecasts and the Pricing of New Issues on the Unlisted Securities Market . Accounting and Business Research , 82 133 – 145 .
  • Keasey , K. and Short , H. 1992a . Ex ante Uncertainty and the Discounting of Initial Public Offerings: Some U.K. Evidence . Omega , 457 – 466 .
  • Keasey , K. and Short , H. 1992b . The Winner's Curse Model of Underpricing: A Critical Assessment . Accounting and Business Research , 89 74 – 78 .
  • Kennedy , P. 1985 . A Guide to Econometrics , Basil Blackwell Oxford .
  • KPMG Peat Marwick McLintock (1989), KPMG Peat Marwick McLintock's USM Survey, December
  • KPMG Peat Marwick McLintock (1990), KPMG Peal Marwick McLintock's New Issue Statistics, October
  • Leyland , H. and Pyle , D. 1977 . Information Asymmetrie Financial Structure and Financial Intermediation . Journal of Finance , 371 – 388 .
  • Levis , M. 1990 . The Winner's Curse Problem, Interest Cost and the Discounting of Initial Public Offerings . Economic Journal , 76 – 89 .
  • Menon , K. and Williams , D. D. 1991 . Auditor Credibility and Initial Public Offerings . Accounting Review , 313 – 332 .
  • Neuberger , B. and LaChapelle , C. 1983 . Unseasoned New Issue Price Performance on Three Tiers: 1975–1980 . Financial Management , Autumn : 23 – 28 .
  • Newbould , G. D. , Stray , S. J. and Wilson , K. W. 1976 . London Term Efficiency in the New Issue Market . Journal of Economic Studies , 1 60 – 67 .
  • Patz , D. H. 1989 . UK Analysts' Earnings Forecasts . Accounting and Business Research , 75 267 – 275 .
  • Ritter , J. R. 1984 . The “Hot Issues” Market of 1980 . Journal of Business , 215 – 240 .
  • Rock , K. 1986 . Why New Issues are Underpriced . Journal Financial Economics , 15 187 – 212 .
  • Tinic , S. M. 1988 . Anatomy of Initial Public Offerings Common Stock . Journal of Finance , 4 789 – 822 .
  • Titman , S. and Trueman , B. M. 1986 . Information Quality and the Valuation of New Issues . Journal of Accounting and Economics , 8
  • Welch , I. 1989 . Seasoned Offerings, Imitation Costs, and the Under Pricing of Initial Public Offerings . Journal of Financial , 421 – 449 .
  • White , H. 1980 . A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity . Econometrica , 48

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.