SEO underpricing in China's stock market: a stochastic frontier approach

References

• Aigner , D , Lovell , K and Schmidt , P . 1977 . Formulation and estimation of stochastic frontier function models . Journal of Econometrics , 6 : 21 – 37 .
   Google Scholar
• Baron , DP . 1982 . A model of the demand for investment banking advising and distribution services for new issues . Journal of Finance , 37 : 955 – 76 .
   Web of Science ®Google Scholar
• Battese , GE and Corra , GS . 1977 . Estimation of a production frontier model: with application to the pastoral zone off eastern Australia . Australian Journal of Agricutural Economics , 21 : 169 – 79 .
   Web of Science ®Google Scholar
• Benveniste , LM and Spindt , PA . 1989 . How investment bankers determine the offer price and allocation of new issues . Journal of Financial Economics , 24 : 343 – 61 .
   Web of Science ®Google Scholar
• Brennan , MJ and Franks , JR . 1997 . Underpricing, ownership and control in initial public offerings of equity securities in the UK . Journal of Financial Economics , 45 : 391 – 413 .
   Web of Science ®Google Scholar
• Coelli , TJ . 1996 . A guide to FRONTIER Version 4.1: a computer program for stochastic frontier production and cost function estimation CEPA Working Papers, No. 6, Department of Econometrics, University of New England, Armidale, Australia
   Google Scholar
• Corwin , SA . 2003 . The determinants of underpricing for seasoned equity offers . Journal of Finance , 58 : 2249 – 79 .
   Web of Science ®Google Scholar
• Downes , D and Heinkel , R . 1982 . Signaling and the valuation of unseasoned new issues . Journal of Finance , 37 : 1 – 10 .
   Web of Science ®Google Scholar
• Eckbo , BE , Masulis , RW and Norli , Ø (Eds) . 2007 . “ Security offerings ” . In Handbook of Corporate Finance: Empirical Corporate Finance , Vol. 1, Chap. 6, , 233 – 373 . The Netherlands : North-Holland/Elsevier .
   Google Scholar
• Gillan , S and Starks , T . 2000 . Corporate governance proposals and shareholder activism: the role of institutional investors . Journal of Financial Economics , 57 : 275 – 305 .
   Web of Science ®Google Scholar
• Hughes , P . 1986 . Signaling by direct disclosure under asymmetric information . Journal of Accounting and Economics , 8 : 119 – 42 .
   Web of Science ®Google Scholar
• Hughes , PJ and Thakor , AV . 1992 . Litigation risk, intermediation, and the underpricing of initial public offerings . Review of Financial Studies , 5 : 709 – 42 .
   Web of Science ®Google Scholar
• Hunt-McCool , J , Koh , SC and Francis , BB . 1996 . Testing for deliberate underpricing in the IPO premarket: a stochastic frontier approach . Review of Financial Studies , 9 : 1251 – 69 .
   Web of Science ®Google Scholar
• Ibbotson , RG . 1975 . Price performance of common stock new issues . Journal of Financial Economics , 2 : 235 – 72 .
   Google Scholar
• Kim , M and Ritter , JR . 1999 . Valuing IPOs . Journal of Financial Economics , 53 : 409 – 37 .
   Web of Science ®Google Scholar
• Koop , G and Li , K . 2001 . The valuation of IPO and SEO firms . Journal of Empirical Finance , 8 : 375 – 401 .
   Google Scholar
• Lee , PJ , Taylor , SL and Walter , TS . 1996 . Australian IPO pricing in the short and long run . Journal of Banking and Finance , 20 : 1189 – 210 .
   Web of Science ®Google Scholar
• Ljungqvist , A , Nanda , V and Singh , R . 2006 . Hot markets, investor sentiment, and IPO pricing . Journal of Business , 79 : 1667 – 702 .
   Web of Science ®Google Scholar
• Logue , DE . 1973 . Premia on unseasoned equity issues, 1965–69 . Journal of Economics and Business , 25 : 133 – 41 .
   Web of Science ®Google Scholar
• Loughran , T , Ritter , JR and Rydqvist , K . 2010 . Updated table 1 of initial public offerings: international insights . Pacific-Basin Finance Journal , 2 : 165 – 99 .
   Google Scholar
• Meeusen , W and van den Broeck , J . 1977 . Efficiency estimation from Cobb–Douglas production function with composed error . International Economic Review , 8 : 435 – 44 .
   Web of Science ®Google Scholar
• Ritter , JR . 1987 . The costs of going public . Journal of Financial Economics , 19 : 269 – 82 .
   Web of Science ®Google Scholar
• Rock , K . 1986 . Why new issues are underpriced . Journal of Financial Economics , 15 : 187 – 212 .
   Web of Science ®Google Scholar
• Shiller , RJ . 1990 . Market volatility and investor behavior . American Economic Review , 80 : 58 – 62 .
   Web of Science ®Google Scholar
• Smith , CW . 1977 . Alternative methods for raising capital: rights versus underwritten offerings . Journal of Financial Economics , 5 : 273 – 307 .
   Web of Science ®Google Scholar
• Stoughton , NM and Zechner , J . 1998 . IPO mechanisms, monitoring and ownership structure . Journal of Financial Economics , 49 : 45 – 78 .
   Web of Science ®Google Scholar