Enviar artigo via e-mail 
Ocultar
Exibir todos
Análise sistemática da literatura sobre Initial Public Offering (IPO): uma contribuição incremental
Resumo
Objetivo: O objetivo é o de realizar uma revisão sistemática da literatura sobre Initial Public Offering (IPO).
Metodologia/abordagem: Foi adotada uma abordagem sistemática com base na análise de estudos acadêmicos nas bases de dados Scopus e Web of Science. Foram utilizados termos correlatos à "Oferta Pública Inicial" como critério de busca nos títulos, resumos e palavras-chave dos artigos publicados entre janeiro de 2017 e junho de 2022 nas áreas de economia, administração e finanças.
Originalidade/Relevância: Esta revisão fornece uma análise da literatura recente sobre IPO destacando a importância estratégica desse processo para as empresas e identificando áreas que necessitam de maior atenção em pesquisas futuras.
Principais resultados: A revisão a existência de seis construtos temáticos principais que englobam questões relevantes para o desempenho e preço das IPOs, a saber: sobrevivência das empresas após o IPO, capital de risco, cultura e política, instituições, educação e o papel da mídia.
Contribuições teóricas/metodológicas: Esta revisão contribui para o desenvolvimento teórico ao fornecer uma base sólida para pesquisas futuras sobre IPO. Além disso, ela oferece insights relevantes para a tomada de decisões por parte de empresas, investidores e reguladores, bem como para o aprimoramento das práticas relacionadas ao IPO.
Contribuições sociais/para a gestão: As implicações gerenciais e sociais dos resultados desta revisão podem auxiliar empresas, investidores e reguladores na compreensão dos fatores que influenciam o sucesso ou fracasso das ofertas públicas iniciais, permitindo decisões mais informadas nesse contexto.
Palavras-chave
Texto completo:
PDFReferências
Abdeljawad, I., & Mat Nor, F. (2017). The capital structure dynamics of Malaysian firms: timing behavior vs adjustment toward the target. International Journal of Managerial Finance, 13(3), 226–245. https://doi.org/10.1108/IJMF-09-2015-0170
Aghamolla, C., & Thakor, R. T. (2021). IPO peer effects. Journal of Financial Economics, xxxx, 1–21. https://doi.org/10.1016/j.jfineco.2021.05.055
Akerlof, G. A. (1978). The market for “lemons”: Quality uncertainty and the market mechanism. In Uncertainty in economics (pp. 235–251). Elsevier.
Albada, A., Low, S. W., & Yong, O. (2020). Prestige signals and heterogeneity of opinion regarding IPO values: Malaysian evidence. INTERNATIONAL JOURNAL OF EMERGING MARKETS, 15(2), 302–319. https://doi.org/10.1108/IJOEM-04-2018-0170
Anderloni, L., & Tanda, A. (2017). Green energy companies: Stock performance and IPO returns. RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 39, 546–552. https://doi.org/10.1016/j.ribaf.2016.09.016
Archambault, É., & Larivière, V. (2009). History of the journal impact factor: Contingencies and consequences. Scientometrics, 79(3), 635–649. https://doi.org/10.1007/s11192-007-2036-x
B3. (2022). Segmentos de listagem. https://www.b3.com.br/pt_br/produtos-e-servicos/solucoes-para-emissores/segmentos-de-listagem/sobre-segmentos-de-listagem/
Badru, B. O., Ahmad-Zaluki, N. A., & Wan-Hussin, W. N. (2017). Board characteristics and the amount of capital raised in the Malaysian IPO market. JOURNAL OF MULTINATIONAL FINANCIAL MANAGEMENT, 42–43, 37–55. https://doi.org/10.1016/j.mulfin.2017.09.001
Badru, B. O., Ahmad-Zaluki, N. A., & Wan-Hussin, W. N. (2019). Signalling IPO quality through female directors. INTERNATIONAL JOURNAL OF MANAGERIAL FINANCE, 15(5), 719–743. https://doi.org/10.1108/IJMF-01-2018-0025
Bae, K. H., Bailey, W., & Kang, J. (2021). Why is stock market concentration bad for the economy? JOURNAL OF FINANCIAL ECONOMICS, 140(2). https://doi.org/10.1016/j.jfineco.2021.01.002
Bai, X. O., Tsang, E. W. K., & Xia, W. (2020). Domestic versus foreign listing: Does a CEO’s educational experience matter? JOURNAL OF BUSINESS VENTURING, 35(1). https://doi.org/10.1016/j.jbusvent.2018.10.004
Baig, A. S., & Chen, M. (2021). Did the COVID-19 pandemic (really) positively impact the IPO Market? An Analysis of information uncertainty. Finance Research Letters, August, 102372. https://doi.org/10.1016/j.frl.2021.102372
Bajo, E., & Raimondo, C. (2017). Media sentiment and IPO underpricing. JOURNAL OF CORPORATE FINANCE, 46, 139–153. https://doi.org/10.1016/j.jcorpfin.2017.06.003
Bhardwaj, A., & Imam, S. (2019). The tone and readability of the media during the financial crisis: Evidence from pre-IPO media coverage. INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, 63, 40–48. https://doi.org/10.1016/j.irfa.2019.02.001
Borisov, A., Ellul, A., & Sevilir, M. (2021). Access to public capital markets and employment growth. JOURNAL OF FINANCIAL ECONOMICS, 141(3), 896–918. https://doi.org/10.1016/j.jfineco.2021.05.036
Boucher, C., & Kooli, M. (2022). Anatomy of money-losing IPOs. Research in International Business and Finance, 60. https://doi.org/10.1016/j.ribaf.2022.101623
Boulton, T. J. (2022). Social progress, business formation, and access to investment capital. EMERGING MARKETS REVIEW, 50. https://doi.org/10.1016/j.ememar.2021.100831
Byard, D., Darrough, M., & Suh, J. (2021). Re-examining the impact of mandatory IFRS adoption on IPO underpricing. REVIEW OF ACCOUNTING STUDIES, 26(4), 1344–1389. https://doi.org/10.1007/s11142-020-09576-3
Cals de Oliveira, B., & Martelanc, R. (2014). IPO Determinants of Brazilian Companies. RBFin - Brazilian Review of Finance, 12(2), 135–161.
Chahine, S., Colak, G., Hasan, I., & Mazboudi, M. (2020). Investor relations and IPO performance. REVIEW OF ACCOUNTING STUDIES, 25(2), 474–512. https://doi.org/10.1007/s11142-019-09526-8
Chahine, S., Filatotchev, I., Bruton, G. D., & Wright, M. (2021). “Success by Association”: The Impact of Venture Capital Firm Reputation Trend on Initial Public Offering Valuations. JOURNAL OF MANAGEMENT, 47(2), 368–398. https://doi.org/10.1177/0149206319847265
Chahine, S., Goergen, M., & Saade, S. (2022). Foreign Venture Capitalists and Access to Foreign Research: The Case of US Initial Public Offerings. BRITISH JOURNAL OF MANAGEMENT, 33(1), 160–180. https://doi.org/10.1111/1467-8551.12451
Chandler, J. A., Payne, G. T., Moore, C., & Brigham, K. H. (2019). Family involvement signals in initial public offerings. JOURNAL OF FAMILY BUSINESS STRATEGY, 10(1), 8–16. https://doi.org/10.1016/j.jfbs.2019.01.004
Chang, C., Chiang, Y. M., Qian, Y. M., & Ritter, J. R. (2017). Pre-market Trading and IPO Pricing. REVIEW OF FINANCIAL STUDIES, 30(3), 835–865. https://doi.org/10.1093/rfs/hhw032
Chemmanur, T. J., Gupta, M., & Simonyan, K. (2022). Top Management Team Quality and Innovation in Venture-Backed Private Firms and IPO Market Rewards to Innovative Activity. ENTREPRENEURSHIP THEORY AND PRACTICE, 46(4), 920–951. https://doi.org/10.1177/1042258720918827
Chemmanur, T. J., Gupta, M., Simonyan, K., & Tehranian, H. (2021). The relationship between venture capital backing and the top management team quality of firms going public and implications for initial public offerings. JOURNAL OF BUSINESS VENTURING, 36(6). https://doi.org/10.1016/j.jbusvent.2021.106148
Chen, Y. Y., Goyal, A., Veeraraghavan, M., & Zolotoy, L. (2020). Media Coverage and IPO Pricing around the World. JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, 55(5), 1515–1553. https://doi.org/10.1017/S0022109019000486
Chen, Y. Y., Goyal, A., & Zolotoy, L. (2021). Global Board Reforms and the Pricing of IPOs. JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS. https://doi.org/10.1017/S0022109021000223
Chiang, Y. M., Lowry, M., & Qian, Y. M. (2019). The Information Advantage of Underwriters in IPOs. MANAGEMENT SCIENCE, 65(12), 5721–5740. https://doi.org/10.1287/mnsc.2018.3126
Chourou, L., Saadi, S., & Zhu, H. (2018). How does national culture influence IPO underpricing? PACIFIC-BASIN FINANCE JOURNAL, 51, 318–341. https://doi.org/10.1016/j.pacfin.2018.08.015
Christophe, S. E., & Lee, H. (2018). Does going global or staying local improve the long-term survival and performance of IPOs? GLOBAL STRATEGY JOURNAL, 8(4), 563–577. https://doi.org/10.1002/gsj.1188
Cirillo, A., Mussolino, D., Romano, M., & Vigano, R. (2017). A complicated relationship: Family involvement in the top management team and post-IPO survival. JOURNAL OF FAMILY BUSINESS STRATEGY, 8(1), 42–56. https://doi.org/10.1016/j.jfbs.2017.01.004
Çolak, G., Durnev, A., & Qian, Y. (2017). Political uncertainty and IPO activity: Evidence from U.S. gubernatorial elections. Journal of Financial and Quantitative Analysis, 52(6), 2523–2564. https://doi.org/10.1017/S0022109017000862
Colak, G., Fu, M. C., & Hasan, I. (2020). Why are some Chinese firms failing in the US capital markets? A machine learning approach. PACIFIC-BASIN FINANCE JOURNAL, 61. https://doi.org/10.1016/j.pacfin.2020.101331
Colak, G., Gounopoulos, D., Loukopoulos, P., & Loukopoulos, G. (2021). Political power, local policy uncertainty and IPO pricing. JOURNAL OF CORPORATE FINANCE, 67. https://doi.org/10.1016/j.jcorpfin.2021.101907
Colombo, M. G., Meoli, M., & Vismara, S. (2019). Signaling in science-based IPOs: The combined effect of affiliation with prestigious universities, underwriters, and venture capitalists. JOURNAL OF BUSINESS VENTURING, 34(1), 141–177. https://doi.org/10.1016/j.jbusvent.2018.04.009
Copley, P., Douthett, E., & Zhang, S. N. (2021). Venture capitalists and assurance services on initial public offerings. JOURNAL OF BUSINESS RESEARCH, 131, 278–286. https://doi.org/10.1016/j.jbusres.2021.04.011
Engelen, P. J., Heugens, P., van Essen, M., Turturea, R., & Bailey, N. (2020). The impact of stakeholders’ temporal orientaton on short- and long-term IPO outcomes: A meta-analysis. LONG RANGE PLANNING, 53(2). https://doi.org/10.1016/j.lrp.2018.10.003
Eom, C., & Kang, H. G. (2022). How does knowledge affect IPO pricing? A new approach grounded in the knowledge-based view. JOURNAL OF KNOWLEDGE MANAGEMENT, 26(7), 1849–1867. https://doi.org/10.1108/JKM-02-2021-0148
Feng, Z. Y., Huang, H. W., & Dao, M. (2019). U.S. Big 4 and Local Auditors in the China Initial Public Offering Market. REVIEW OF PACIFIC BASIN FINANCIAL MARKETS AND POLICIES, 22(4). https://doi.org/10.1142/S0219091519500243
Filatotchev, I., Chahine, S., & Bruton, G. D. (2018). Board Interlocks and Initial Public Offering Performance in the United States and the United Kingdom: An Institutional Perspective. JOURNAL OF MANAGEMENT, 44(4), 1620–1650. https://doi.org/10.1177/0149206315621145
Gao, S. H., Meng, Q. B., Chan, K. C., & Wu, W. X. (2017). Earnings management before IPOs: Are institutional investors misled? JOURNAL OF EMPIRICAL FINANCE, 42, 90–108. https://doi.org/10.1016/j.jempfin.2017.02.003
Garanina, T., & Dumay, J. (2017). Forward-looking intellectual capital disclosure in IPOs Implications for intellectual capital and integrated reporting. JOURNAL OF INTELLECTUAL CAPITAL, 18(1), 128–148. https://doi.org/10.1108/JIC-05-2016-0054
Gong, M. J., Zhang, Z., & Jia, M. (2021). Lie Detectors? How Entrepreneurs’ Facial Expressions During IPO Roadshow Presentations Predict New Venture Misconduct Behaviors. IEEE TRANSACTIONS ON ENGINEERING MANAGEMENT, 68(6), 1855–1866. https://doi.org/10.1109/TEM.2019.2935148
Gonzalez, M., Guzman, A., Tellez-Falla, D. F., & Trujillo, M. A. (2019). Governance, sentiment analysis, and initial public offering underpricing. CORPORATE GOVERNANCE-AN INTERNATIONAL REVIEW, 27(3), 226–244. https://doi.org/10.1111/corg.12272
González, M., Guzmán, A., Tellez-Falla, D. F., & Trujillo, M. A. (2019). Governance, sentiment analysis, and initial public offering underpricing. Corporate Governance: An International Review, 27(3), 226–244. https://doi.org/10.1111/corg.12272
Goodell, J. W., Kumar, S., Lim, W. M., & Pattnaik, D. (2021). Artificial intelligence and machine learning in finance: Identifying foundations, themes, and research clusters from bibliometric analysis. Journal of Behavioral and Experimental Finance, 32, 100577. https://doi.org/10.1016/j.jbef.2021.100577
Gounopoulos, D., & Pham, H. (2018a). Financial Expert CEOs and Earnings Management Around Initial Public Offerings. INTERNATIONAL JOURNAL OF ACCOUNTING, 53(2), 102–117. https://doi.org/10.1016/j.intacc.2018.04.002
Gounopoulos, D., & Pham, H. (2018b). Specialist CEOs and IPO survival. JOURNAL OF CORPORATE FINANCE, 48(FMA Annual Meeting), 217–243. https://doi.org/10.1016/j.jcorpfin.2017.10.012
Guldiken, O., Tupper, C., Nair, A., & Yu, H. Z. (2017). The impact of media coverage on IPO stock performance. JOURNAL OF BUSINESS RESEARCH, 72, 24–32. https://doi.org/10.1016/j.jbusres.2016.11.007
Gupta, D. R., Veliyath, R., & George, R. (2018). Influence of national culture on IPO activity. JOURNAL OF BUSINESS RESEARCH, 90, 226–246. https://doi.org/10.1016/j.jbusres.2018.04.023
Hanselaar, R. M., Stulz, R. M., & van Dijk, M. A. (2019). Do firms issue more equity when markets become more liquid? JOURNAL OF FINANCIAL ECONOMICS, 133(1), 64–82. https://doi.org/10.1016/j.jfineco.2018.12.004
Harris, O. (2018). The impact of industrial districts on the pricing of IPOs. QUARTERLY REVIEW OF ECONOMICS AND FINANCE, 69, 274–285. https://doi.org/10.1016/j.qref.2018.03.010
Hearn, B., & Filatotchev, I. (2019). Founder retention as CEO at IPO in emerging economies: The role of private equity owners and national institutions. JOURNAL OF BUSINESS VENTURING, 34(3), 418–438. https://doi.org/10.1016/j.jbusvent.2019.01.007
Hirsch, J. E. (2005). An index to quantify an individual’s scientific research output. Proceedings of the National Academy of Sciences of the United States of America, 102(46), 16569–16572. https://doi.org/10.1073/pnas.0507655102
Honjo, Y., & Nagaoka, S. (2018). Initial public offering and financing of biotechnology start-ups: Evidence from Japan. RESEARCH POLICY, 47(1), 180–193. https://doi.org/10.1016/j.respol.2017.10.009
Huang, F. L., Xiang, L. J., Liu, R. B., Su, S. L., & Qiu, H. (2019). The IPO corporate social responsibility information disclosure: Does the stock market care? ACCOUNTING AND FINANCE, 59, 2157–2198. https://doi.org/10.1111/acfi.12534
Huang, Y. S., Li, M. Y., & Chen, C. R. (2019). Financial market development, market transparency, and IPO performance. PACIFIC-BASIN FINANCE JOURNAL, 55, 63–81. https://doi.org/10.1016/j.pacfin.2019.03.007
James, K. R., & Valenzuela, M. (2020). The Efficient IPO Market Hypothesis: Theory and Evidence. JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, 55(7), 2304–2333. https://doi.org/10.1017/S0022109019000784
Jenkinson, T., Jones, H., & Suntheim, F. (2018). Quid Pro Quo? What Factors Influence IPO Allocations to Investors? JOURNAL OF FINANCE, 73(5), 2303–2341. https://doi.org/10.1111/jofi.12703
Kang, H. G., Bae, K., Shin, J. A., & Jeon, S. (2021). Will data on internet queries predict the performance in the marketplace: an empirical study on online searches and IPO stock returns. ELECTRONIC COMMERCE RESEARCH, 21(1), 101–124. https://doi.org/10.1007/s10660-020-09417-0
Li, J. (2022). TMT functional complementarity and post-IPO performance: Evidence from the U.S. biotechnology industry. Long Range Planning. https://doi.org/10.1016/j.lrp.2021.102178
Li, X. R., Wang, S. S., & Wang, X. (2019). Trust and IPO underpricing. JOURNAL OF CORPORATE FINANCE, 56, 224–248. https://doi.org/10.1016/j.jcorpfin.2019.02.006
Ling, D. C., Marcato, G., & Zheng, C. (2022). Does asset location and concentration explain REIT IPO valuation? REAL ESTATE ECONOMICS, 50(3), 672–706. https://doi.org/10.1111/1540-6229.12327
Liu, X. T., & Wu, B. Y. (2021). Do IPO Firms Misclassify Expenses? Implications for IPO Price Formation and Post-IPO Stock Performance. MANAGEMENT SCIENCE, 67(7), 4505–4531. https://doi.org/10.1287/mnsc.2020.3684
LOUGHRAN, T., & RITTER, J. R. (1995). The New Issues Puzzle. The Journal of Finance, 50(1), 23–51. https://doi.org/10.1111/j.1540-6261.1995.tb05166.x
Luo, D. L., Tong, N. Q., & She, G. M. (2017). City-level political uncertainty and city-level IPO activities. ACCOUNTING AND FINANCE, 57(5), 1447–1480. https://doi.org/10.1111/acfi.12341
McDonald, M. B. (2022). The shrinking stock market. JOURNAL OF FINANCIAL MARKETS, 58. https://doi.org/10.1016/j.finmar.2021.100664
Mello, A. S., & Parsons, J. E. (2000). Hedging and Liquidity. Review of Financial Studies, 13(1), 127–153. https://doi.org/10.1093/rfs/13.1.127
Modigliani, F., & Miller, M. H. (1963). Corporate Income Taxes and the Cost of Capital : A Correction Author ( s ): Franco Modigliani and Merton H . Miller Source : The American Economic Review , Vol . 53 , No . 3 ( Jun ., 1963 ), pp . 433-443 Published by : American Economic Association Stable. The American Economic Review, 53(3), 433–443.
Mujiatun, S., & Ferina, D. (2021). Effect of Profitability and Asset Structure on Capital Structure (In Sharia Based Manufacturing Companies In Indonesia Stock Exchange In 2016-2019 Period). International Journal of Economics, 2(2), 383–391. http://jurnal.umsu.ac.id/index.php/insis/article/view/6325
Myers, S. C. (1984). The Capital Structure Puzzle. The Journal of Finance, 39(3), 575–592.
Nguyen Thanh, B. (2020). Macroeconomic uncertainty, the option to wait and IPO issue cycles. Finance Research Letters, 32. https://doi.org/10.1016/j.frl.2019.01.012
Nutt, P. C., & Wilson, D. C. (2010). Handbook of decision making (Vol. 6). John Wiley & Sons.
Oliveira, G. R., Tabak, B. M., de Lara Resende, J. G., & Cajueiro, D. O. (2013). Determinants of the level of indebtedness for Brazilian firms: A quantile regression approach. EconomiA, 14(3–4), 123–138. https://doi.org/10.1016/j.econ.2013.11.002
Ozdemir, O., & Kizildag, M. (2017). Does franchising matter on IPO performance? An examination of underpricing and post-IPO performance. INTERNATIONAL JOURNAL OF CONTEMPORARY HOSPITALITY MANAGEMENT, 29(10), 2535–2555. https://doi.org/10.1108/IJCHM-11-2015-0662
Pagano, M., Panetta, F., & Zingales, L. (1998). Why do companies go public? An empirical analysis. Journal of Finance, 53(1), 27–64. https://doi.org/10.1111/0022-1082.25448
Peng, X., Jia, Y. B., Chan, K. C., & Wang, X. Y. (2021). Let us work together: The impact of customer strategic alliances on IPO underpricing and post-IPO performance. JOURNAL OF CORPORATE FINANCE, 67. https://doi.org/10.1016/j.jcorpfin.2021.101899
Peng, X., Wang, X., & Chan, K. C. (2020). Does supplier stability matter in initial public offering pricing? International Journal of Production Economics, 225. https://doi.org/10.1016/j.ijpe.2019.107577
Pour, E. K. (2017). Entering the public bond market during the financial crisis: Underinvestment and asymmetric information costs. RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 39, 102–114. https://doi.org/10.1016/j.ribaf.2016.07.026
Premti, A., & Smith, G. (2020). Earnings management in the pre-IPO process: Biases and predictors. RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 52. https://doi.org/10.1016/j.ribaf.2019.101120
Ragozzino, R., & Blevins, D. P. (2021). An investigation of the attention effects of venture capitalist backing on entrepreneurial firms. LONG RANGE PLANNING, 54(3). https://doi.org/10.1016/j.lrp.2020.101995
Ritter, J. R. (1984). The" hot issue" market of 1980. Journal of Business, 215–240.
Ritter, J. R., & Welch, I. (2002). A review of IPO activity, pricing, and allocations. Journal of Finance, 57(4), 1795–1828. https://doi.org/10.1111/1540-6261.00478
ROCHA, A. C., GOMES, C. M. ., KNEIPP, J. M. ., & CAMARGO, C. R. (2013). GESTÃO DE PROJETOS E SUSTENTABILIDADE: UM ESTUDO BIBLIOMÉTRICO DA PRODUÇÃO CIENTÍFICA NA BASE WEB OF SCIENCE. Revista de Gestão e Projetos, v. 4(2236–0972), 73–97. https://doi.org/https://doi.org/10.5585/gep.v4i3.200
Rock, K. (1986). Why new issues are underpriced. Journal of Financial Economics, 15(1–2), 187–212. https://doi.org/10.1016/0304-405X(86)90054-1
Ross, S. A., Westerfield, R. W., Jaffe, J., & Lamb, R. (2015). Administração financeira: Corporate Finance (10th ed.). AMGH Editora.
Satta, G., Notteboom, T., Parola, F., & Persico, L. (2017). Determinants of the long-term performance of initial public offerings (IPOs) in the port industry. TRANSPORTATION RESEARCH PART A-POLICY AND PRACTICE, 103, 135–153. https://doi.org/10.1016/j.tra.2017.05.032
Schnyder, G., Grosman, A., Fu, K., Siems, M., & Aguilera, R. V. (2022). Legal Perception and Finance: The Case of IPO Firm Value. BRITISH JOURNAL OF MANAGEMENT, 33(1), 88–116. https://doi.org/10.1111/1467-8551.12531
Shi, S., Sun, Q., & Zhang, X. (2018). Do IPOs Affect Market Price? Evidence from China. JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, 53(3), 1391–1416. https://doi.org/10.1017/S0022109018000091
Signori, A., & Vismara, S. (2017). Stock-financed M&As of newly listed firms. SMALL BUSINESS ECONOMICS, 48(1), 115–134. https://doi.org/10.1007/s11187-016-9767-0
Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a Methodology for Developing Evidence-Informed Management Knowledge by Means of Systematic Review. British Academy of Management, 14(3), 207–222. https://doi.org/doi:10.1111/1467-8551.00375
Wang, Z., Wang, X., Xu, Y., & Cheng, Q. (2022). Are green IPOs priced differently? Evidence from China. Research in International Business and Finance, 61. https://doi.org/10.1016/j.ribaf.2022.101628
Wu, C. W., & Reuer, J. J. (2021). Effects of R&D Investments and Market Signals on International Acquisitions: Evidence from IPO Firms. JOURNAL OF RISK AND FINANCIAL MANAGEMENT, 14(5). https://doi.org/10.3390/jrfm14050191
Yan, J. J., & Williams, D. W. (2021). Timing is everything? Curvilinear effects of age at entry on new firm growth and survival and the moderating effect of IPO performance. JOURNAL OF BUSINESS VENTURING, 36(5). https://doi.org/10.1016/j.jbusvent.2020.106020
Yan, Y. M., Xiong, X., Meng, J. G., & Zou, G. F. (2019). Uncertainty and IPO initial returns: Evidence from the Tone Analysis of China’s IPO Prospectuses. PACIFIC-BASIN FINANCE JOURNAL, 57. https://doi.org/10.1016/j.pacfin.2018.10.004
Yang, J., Ma, J. Q., & Doty, D. H. (2020). Family Involvement, Governmental Connections, and IPO Underpricing of SMEs in China. FAMILY BUSINESS REVIEW, 33(2), 175–193. https://doi.org/10.1177/0894486520905180
Zhang, J., & Yu, H. Z. (2017). Venture Capitalists’ Experience and Foreign IPOs: Evidence from China. ENTREPRENEURSHIP THEORY AND PRACTICE, 41(5), 677–707. https://doi.org/10.1111/etap.12228
Zhang, Y. A., Chen, J., Li, H. Y., & Jin, J. (2022). Who do you take to tango? Examining pairing mechanisms between underwriters and initial public offering firms in a nascent stock market. STRATEGIC ENTREPRENEURSHIP JOURNAL, 16(1), 97–128. https://doi.org/10.1002/sej.1414
Zhao, B. J., Tan, J. H., & Chan, K. C. (2022). Does a CEO’s prior academic experience helpful to an IPO firm? The case of IPO discount. FINANCE RESEARCH LETTERS, 47. https://doi.org/10.1016/j.frl.2022.102688
Zhou, L., & Sadeghi, M. (2019). The impact of innovation on IPO short-term performance - Evidence from the Chinese markets. PACIFIC-BASIN FINANCE JOURNAL, 53, 208–235. https://doi.org/10.1016/j.pacfin.2018.10.010
Zhou, M. S., Xiao, D. C., Chan, K. C., & Fung, H. G. (2019). The impact of pre-IPO performance pressure on research and development investments of an IPO firm: Evidence from China. ECONOMIC MODELLING, 78, 40–46. https://doi.org/10.1016/j.econmod.2018.09.013
Zhou, X. G., Tang, X. M., & Wu, S. H. (2022). The impact of national culture on IPO underpricing and its influence mechanism: A cross-border empirical research. FINANCE RESEARCH LETTERS, 47. https://doi.org/10.1016/j.frl.2021.102543
DOI: https://doi.org/10.20397/2177-6652/2023.v23i3.2617
Métricas do artigo
Metrics powered by PLOS ALM
Apontamentos
- Não há apontamentos.
Direitos autorais 2023 Revista Gestão & Tecnologia
Esta obra está licenciada sob uma licença Creative Commons Atribuição - NãoComercial 4.0 Internacional.