Essays on Initial Public Offerings
Essays on Initial Public Offerings

Author: Hugh Monte Joseph Colaco

Publisher:

Published: 2006

Total Pages: 109

ISBN-13: 9781109878288

DOWNLOAD EBOOK

In the second essay, it is argued that the time following an amendment in which demand is revealed has a cost. So, why do some firms take longer than others to go public following the amendment? It is hypothesized that the delay to the offer results from overestimation of demand and risk. As a result, underpricing predicted at the amendment is not indicative of the final level of underpricing. The firm and its investors bear the costs of the delay. This study highlights the distinction between partial and full information and the costs associated with SEC requirements.

Initial Public Offerings, Liquidity, and Corporate Governance
Initial Public Offerings, Liquidity, and Corporate Governance

Author: Saurav Roychoudhury

Publisher: LAP Lambert Academic Publishing

Published: 2009-10

Total Pages: 148

ISBN-13: 9783838318424

DOWNLOAD EBOOK

The book is a compilation of three related essays on initial Public Offerings, liquidity, productivity growth and corporate governance. The first essay looks at the long run performance of initial public offerings (IPOs) in the United States relative to their liquidity profile. The book provides a liquidity based explanation for why certain IPOs underperform in the long run. The second essay relates corporate governance to a firm s productivity growth. Given technology and industry constraints, some firms are very efficient whereas others are not and some firms have much faster rates of innovation and productivity growth than others. The book seeks to provide an explanation by looking at the relationship between a firm s governance structures and total factor productivity. The third essay connects the first two essays. It looks at the differences in the long term performance of IPOs with strong and weak corporate governance.

Two Essays on Initial Public Offerings
Two Essays on Initial Public Offerings

Author: Ansley Chua

Publisher:

Published: 2009

Total Pages:

ISBN-13:

DOWNLOAD EBOOK

I find that the extent of managers' undercompensation as compared to peer managers is compensated post-IPO. I do find other attributes, such as being a CEO, also affect the increase in pay. However, Chairmanship and Board status did not affect compensation. Additionally, I find that free cash flows and firm ownership value is consistently and strongly related to an increase in pay. However, governance variables do not limit the executives' change in compensation. I find strong support that both previous executive sacrifice and the principal/agent issues are major factors in the determination of executives' post-IPO compensation.