This book is written to convey the most important concepts and principles of corporate
finance at a level that is approachable for a wide audience. The authors retain their modern …

We examine the extent to which offer prices reflect public information for 3,325 IPOs over
the period 1990–1999. We focus primarily on four variables: share overhang, file range …

We examine the expiration of the IPO quiet period, which occurs after the 25th calendar day
following the offering. For IPOs during 1996 to 2000, we find that analyst coverage is …

Most initial public offerings (IPOs) feature “lockup” agreements, which bar insiders from
selling the stock for a set period following the IPO, usually 180 days. We examine stock price …

Stocks with relatively high short interest subsequently experience negative abnormal returns,
but the effect can be transient and of debatable economic significance. In contrast, …

Duffie (1996) examines the theoretical impact of repo “specials” on the prices of Treasury
securities and concludes that, all else the same, an issue on special will carry a higher price …

We examine over 7400 analyst recommendations made in the year after going public for
IPOs from 1999 to 2000. Initiations of coverage at the end of the quiet period come almost …

Etiquette alone will not enable you to reach your targeted goal. It will give you the extra edge
that will make the difference between you and the competition. 1 Business etiquette is the …

In a standard four-factor framework, mutual fund return volatility is a reliable, persistent, and
powerful predictor of future abnormal returns. However, the abnormal returns are eliminated …

We investigate the pricing of 4,989 equity IPOs with offer dates between 1981 and 2000.
Approximately three-fourths of these IPOs have integer offer prices. Average initial returns for …