We review theory and evidence relating to herd behaviour, payoff and reputational
interactions, social learning, and informational cascades in capital markets. We offer a …

When companies go public, the equity they sell in an initial public offering tends to be
underpriced, resulting in a substantial price jump on the first day of trading. The underpricing …

Globalisasi dunia bisnis telah menembus batas-batas wilayah negara. Seiring dengan
perkembangan bisnis, masalah dan praktik kejahatan yang berkaitan dengan dunia bisnis …

There are competing theoretical explanations and conflicting empirical evidence for the
initial public offering (IPO) underpricing phenomenon in family firms. The behavioral agency …

This book began as a series of lesson notes for a financial accounting theory course of the
Certified General Accountants' Association of Canada (CGA). The lesson notes grew out of a …

This paper develops and tests two propositions. We demonstrate that there is a monotone
relation between the (expected) underpricing of an initial public offering and the uncertainty …

We study reputation incentives in the director labor market and find that directors with
multiple directorships distribute their effort unequally based on the directorship's relative …

This paper provides support for the certification role of venture capitalists in initial public
offerings. Consistent with the certification hypothesis, a comparison of venture capital …

This paper examined the returns earned by subscribing to initial public offerings of equity
(IPOs). Rock (1986) suggests that IPO returns are required by uninformed investors as …

Empirical evidence suggests the existence of 'hot-issue'markets for initial public offerings: in
certain periods and in certain industries, new issues are underpriced and rationing occurs …