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Know Your Customer : Informed Trading by Banks

Haselmann, Rainer; Leuz, Christian; Schreiber, Sebastian - National Bureau of Economic Research - 2022

This study analyzes information production and trading behavior of banks with lending relationships. We combine trade-by-trade supervisory data and credit-registry data to examine banks' proprietary trading in borrower stocks around a large number of corporate events. We find that relationship...

Persistent link: https://www.econbiz.de/10013388877

Is the Enterprise Creation Importance of Venture Capital in an Emerging Market Real? Answers from Johannesburg Securities Exchange's IPOS

Ojah, Kalu - In: The African Finance Journal 13 (2011) 2, pp. 1-24

Venture capital’s success in aiding enterprise creation in developed economies and its characteristic design for channeling equity capital to fledgling enterprises beyond the limits of bank term loans, have led some to suggest venture capital can play a role in bridging the enormous capital...

Persistent link: https://www.econbiz.de/10009319146

Prior banking relationships and long-term IPO performance

Chan, Kam C.; Li, Guangzi - In: International review of economics & finance : IREF 77 (2022), pp. 123-134

Persistent link: https://www.econbiz.de/10013330744

Loan market benefits of (High) IPO underpricing

Su, Xunhua; Zhang, Donghang; Zhang, Xiaoyu - In: Journal of financial intermediation 61 (2025), pp. 1-18

Persistent link: https://www.econbiz.de/10015413359

The Berlin Stock Exchange in Imperial Germany – a Market for New Technology?

Lehmann, Sibylle; Streb, Jochen - C.E.P.R. Discussion Papers - 2015

could rely on the Berlin stock market as a source of financing. The data also reveal that initial public offerings (IPO) of …

Persistent link: https://www.econbiz.de/10011266534

IPO price discovery efficiency under alternative regulatory constraints: Taiwan, Hong Kong and the U.S.

Chang, Hsiu-Hua; Chen, Anlin; Kao, Lanfeng; Wu, Chin-Shun - In: International Review of Economics & Finance 29 (2014) C, pp. 83-96

It has been proven by Ljungqvist and Wilhelm (2002) that constraints on underwriters' allocation discretion reduce price revisions. The dual-tranche bookbuilding in Taiwan and Hong Kong imposes more regulations limiting underwriters than U.S. bookbuilding does, but price revisions of Taiwan and...

Persistent link: https://www.econbiz.de/10010729776

Bids and Allocations in European IPO Bookbuilding

Jenkinson, Tim; Jones, Howard - C.E.P.R. Discussion Papers - 2002

investment bank. We make use of a unique ranking of investor quality, associated with the likelihood of flipping the IPO, as …

Persistent link: https://www.econbiz.de/10005656390

Shareholder Diversification and IPOs

Bodnaruk, Andriy; Kandel, Eugene; Massa, Massimo; … - C.E.P.R. Discussion Papers - 2004

composition of all the investors in the companies being taken public, both before and after the IPO, as well as the portfolio … of the shareholders and relate them to both the probability of the IPO and the underpricing. We show that companies held …

Persistent link: https://www.econbiz.de/10005124086

IPO lockup expiration in the Middle East and North Africa

Hakim, Tatiana; Lypny, Gregory; Bhabra, Harjeet S. - In: Journal of Multinational Financial Management 22 (2012) 5, pp. 252-262

We examine stock market reaction to IPO lockup expiration for a sample of 60 companies in the Middle East and North … the fraction of IPO shares on offer that are primary, which is consistent with regulators setting shorter lockups for well …-established firms and those signaling an ongoing commitment to the business. And while evidence of general IPO underpricing is …

Persistent link: https://www.econbiz.de/10010594348

Why do companies delist voluntarily from the stock market?

Kashefi Pour, Eilnaz; Lasfer, Meziane - In: Journal of Banking & Finance 37 (2013) 12, pp. 4850-4860

We analyse the motives and market valuation of voluntarily delisting from the London Stock Exchange. We show that firms that delist voluntarily are likely to have come to the market to rebalance their leverage rather than to finance their growth opportunities. During their quotation life, their...

Persistent link: https://www.econbiz.de/10010709497