ARUGASLAN, ONUR; COOK, DOUGLAS O.; KIESCHNICK, ROBERT - In: Journal of Finance 59 (2004) 5, pp. 2403-2420
<link rid="b7">Brennan and Franks (1997)</link> and <link rid="b26">Stoughton and Zechner (1998)</link> provide contrasting arguments for why monitoring considerations create incentives for managers to underprice their firms' IPOs (initial public offerings). Like <link rid="b25">Smart and Zutter (2003)</link>, we examine these arguments using a sample of U.S....
