BNET Business Dictionary
Business Definition for: IPO
- initial public offering
Wiktionary Definition for: IPO
- Initial Public Offering
Additional Resources
- IPO Failure Risk: Determinants And Pricing Consequences
- While a large body of research examines different aspects of the post-IPO Initial Public Offering stock return performance of new listings, little has been documented regarding the firm-specific characteristics that are associated with IPO failures. The authors contribute to the IPO literature by developing an IPO failure prediction model that...
- White papers 2005-04-27
- Executive Stock Options And IPO Underpricing
- In about one-third of US IPOs between 1996 and 2000, executives received stock options with an exercise price set equal to the IPO Initial Public Offerings offer price rather than a price determined by the market. Among firms with such "IPO options", 58 percent of top executives receive a net...
- White papers 2006-07-31
- Fun With IPOs - Unless You're a VC
- Paul Kedrosky submits: The IPO market stinks. Near as I can tell, there hasn't been a single venture-backed IPO in the second quarter of 2008, which would be the first quarter in which that has happened since ... well, as long as I have data. Admittedly, the first quarter...
- External links 2008-06-24
- A Sequential Search Model For IPO Pricing And Contracting
- With a sequential search model, this paper examines a firm's incentive to underprice its IPO Initial Public Offering in order to deter a representative investor's interest for its rival firm's IPO. There is a cross-firm information spillover during the investor's sequential search: the search for the first IPO will reduce...
- White papers 2006-08-01
- Sticky Prices: IPO Pricing on Nasdaq and the Neuer Market
- This paper examines the IPO pricing processes of two different markets, each of which employs bookbuilding methods for marketing the IPO shares. For each market the authors investigate two questions: Does bookbuilding serve mainly as a method for distributing shares, or also as a means for gathering information? And, to...
- White papers 2002-04-01
- Venture Capital Investments by IPO Underwriters: Certification or Conflict of Interest?
- The paper studies IPO pricing when underwriters are venture capital investors in issuers and evaluates whether this creates a serious conflict of interest with IPO investors. Theoretically, prior underwriter venture investment has two effects. First, it can improve underwriter access to IPO issuer information, thereby enhancing the credibility of its...
- White papers 2003-06-11
- IPO-Related Organizational Change and Long-Term Performance
- This article presents the idea that in many companies the preparation for the IPO and the IPO itself may bring organizational change. The research shows that an IPO primarily changes financial management and financial reporting, but that other types of organizational change may also be relevant. Moreover, long-term stock market...
- White papers 2000-07-18
- Pre-IPO Ownership Structure And Its Impact On The IPO Process
- This paper investigates the impact of pre-IPO Initial Public Offering ownership structure on the proportion, allocation, and pricing of new issued shares, as well as the costs of going public. The authors found that retaining control is an important consideration for pre-IPO owners/managers. Where the pre-IPO ownership of managers indicates...
- White papers 2006-10-24
- What An IPO Could Do For Your Business
- If you think initial public offerings are only for big businesses, think again. Depending on short-term needs and long-term goals - and investor interest in your product or service - an Initial Public Offerings IPO can be a smart move for small and midsized companies. Of course, there are costs...
- White papers
- A Theory Of IPO Underpricing, Issue Activity, And Long-Run Underperformance
- This paper presents a dynamic model of an IPO Initial Public Offerings market in which firms go public to raise capital for investment. The original shareholders have inside information with respect to the quality of their firm's investment opportunities, and they decide whether to go public, how much capital to...
- White papers 2004-03-11
- Initial Public Offerings And Online IPO Auctions - Significant Advantages In Pricing?
- An Initial Public Offering IPO is a securities offering, in which an enterprise sells its stock publicly for the first time without having a prior price history. There are many ways in which an enterprise can conduct its IPO. The three most common avenues utilized are, the U.S. style "Book...
- White papers 2006-05-23
- Is IPO Underperformance A Peso Problem?
- Studies suggest that the underperformance of IPOs Initial Public Offering in the post-1970 sample may be a small sample effect or "Peso" problem. That is, IPO underperformance may result from observing too few star performers ex-post than were expected ex-ante. This paper develops a model of IPO performance that captures...
- White papers 2005-01-04
- A Study of the Relationship Between Firm Age-at-IPO and Aftermarket Stock Performance
- Prior to a firm's IPO, management refines the enterprise's idea and strategy, while early investors and creditors assess the firm's potential, risks, and optimal deployment of capital. Since the post-IPO capital investment will be irreversible, this learning process is very important because it reduces the possibility of a costly mistake....
- White papers 2002-04-01
- A Fully-Rational Liquidity-Based Theory Of IPO Underpricing And Underperformance
- The author presents a fully-rational symmetric-information model of an IPO Initial Public Offering, and a dynamic imperfectly competitive model of trading in the IPO aftermarket. The model helps to explain IPO underpricing, underperformance, and why share allocations favor large institutional investors. In the model, underwriters need to sell a fixed...
- White papers 2006-02-21
- Underwriter Reputation And Short-Run IPO Returns: A Re-Evaluation For An Emerging Market
- This paper examines the effect of underwriter reputation on the initial-day IPO Initial public offering returns in an emerging market. It uses both a traditional and an extended model given the characteristics of the IPO market under analysis. The results from the traditional model indicate that underwriter reputation does not...
- White papers 2006-03-09
- A Look at IPO Performance
- Hickey and Walters Bespoke submit: We were recently doing some IPO analysis and decided to see how Bloomberg's IPO index has done versus the broader market over the last year and a half.  Below we highlight the performance of the Bloomberg US IPO index versus the S&P 500...
- External links 2008-06-19
- Information Spillovers In IPO Waves
- This paper examines information spillovers in IPO Initial Public Offering waves. The results show that IPOs that are filed later in a wave incorporate information from pricing of contemporaneous IPOs in their own pricing decisions. These information spillovers occur through common syndicate manages and/or common institutional investors in IPOs with...
- White papers 2005-10-15
- REITs, IPO Waves, And Long Run Performance
- The Real Estate Investment Trust REIT industry has undergone three waves of Initial Public Offering IPO since 1980. This paper examines these waves within the context of the general IPO wave literature. It was noted that the unique nature of REITs may render them more transparent than other stocks, and...
- White papers 2004-01-29
- How Large Is The Premium On Expected Rate Of Return For Initial Public Offer Firms?
- This paper examines the expected rate of return and expected growth premia implied by price, book value, and forecast earnings for firms that engaged in an Initial Public Offering IPO relative to more seasoned firms. It was documented that on average the expected rate of return and expected growth IPO...
- White papers 2006-04-01
- Does Prospect Theory Explain IPO Market Behavior?
- The authors derived a behavioral measure of the IPO Initial Public Offering decision-maker's satisfaction with the underwriter's performance based on Loughran and Ritter (2002) and assess its ability to explain the decisionmaker's choice among underwriters in subsequent securities offerings. Controlling for other known factors, IPO firms are less likely to...
- White papers 2004-04-29
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