|dc.description.references||Baker, M., Gompers, P., 2003. The determinants of board structure at the initial public offering.
Journal of Law and Economics 46, 569-598.
Bebchuk, L., 1999. A rent-protection theory of corporate ownership and control. Working paper
Beck, T., Demirgüç-Kunt, A., Levine, R., 2000. A new database on financial development and
structure. World Bank Economic Review 14, 597-605.
Benveniste, L., Spindt, P., 1989. How investment bankers determine the offer price and allocation
of new issues. Journal of Financial Economics 24, 343-361.
Bhattacharya, U., Daouk, H., 2002. The world price of insider trading. Journal of Finance 57, 75-
Bhattacharya, U., Daouk, H., Welker, M., 2003. The world price of earnings opacity. Accounting
Review 78, 641-678.
Bradley, D., Cooney, J., Jordan, B., Singh, A., 2004. Negotiation and the IPO offer price: a
comparison of integer vs. non-integer IPOs. Journal of Financial and Quantitative Analysis 39,
Brennan, M., Franks, J., 1997. Underpricing, ownership and control in initial public offerings of
equity securities in the UK. Journal of Financial Economics 45, 391-413.
Bushee, B., Leuz, C., 2005. Economic consequences of sec disclosure regulation: evidence from
the OTC bulletin board. Journal of Accounting and Economics 39, 233-264.
Butler, A., Fauver, L., 2006. Institutional environment and sovereign credit rating. Financial
Management 35, 53-79.
Carter, R., Manaster, S., 1990. Initial public offerings and underwriter reputation. Journal of
Finance 45, 1045-1067.
Coffee, J., 1999. The future as history: the prospects for global convergence in corporate
governance and its implications. Northwestern University Law Review 93, 641-708.
Coffee, J., 2002. Racing towards the top? The impact of cross-listings and stock market
competition on international corporate governance. Columbia Law Review 102, 1757-1831.
Demsetz, H., Lehn, K., 1985. The structure of corporate ownership: causes and consequences.
Journal of Political Economy 93, 1155-1175.
Derrien, F., 2005. IPO pricing in “hot” market conditions: Who leaves money on the table?
Journal of Finance, 60, 487-521.
Derrien, F., Womack, K., 2003. Auctions vs. bookbuilding and the control of underpricing in hot
IPO markets. Review of Financial Studies, 2003, 16, 31-61.
Djankov, S., La Porta, R., Lopez-de-Silanes, F., Shleifer, A., 2006. The Law and Economics of
Self-Dealing. National Bureau of Economic Research, Inc, NBER Working Papers: 11883.
Dyck, A., Zingales, L., 2004. Private benefits of control: an international comparison. Journal of
Finance 59, 537-600.
Ellul, A., Pagano, M., 2006. IPO underpricing and after-market liquidity. Review of Financial
Studies, 19, 381-412.
Field, L., Karpoff, J., 2002. Takeover defenses of IPO firms. Journal of Finance 57, 1857-1889.
Habib M., Ljungqvist, A., 2001. Underpricing and entrepreneurial wealth losses in ipos: theory
and evidence. Review of Financial Studies 14, 433-458.
Hail, L., Leuz, C., 2006. International differences in the cost of equity capital: do legal
institutions and security regulations matter? Journal of Accounting Research 44, 485-531.
Hensler D., 1995. Litigation costs and the underpricing of initial public offerings. Managerial and
Decision Economics 16, 111-128.
Hughes, P., Thakor, A., 1992. Litigation risk, intermediation, and the underpricing of initial
public offerings. Review of Financial Studies 5, 709-742.
Ibbotson, R., 1975. Price performance of common stock new issues. Journal of Financial
Economics 2, 235-272.
Jaggers, K., Marshall, M., 2000. Polity IV project, political regime characteristics and transitions,
1800-2000. Database Codebook.
Jensen, M., Meckling, W., 1976. Theory of the firm: managerial behavior, agency costs and
ownership structure. Journal of Financial Economics 3, 305-360.
Kandel, S., Sarig, O., Wohl, A., 1999. The demand for stocks: An analysis of IPO auctions. The
Review of Financial Studies, 12, 227-247.
Kaufmann, D., Kraay, A., Mastruzzi, M., 2004. Governance matters III: Governance indicators
for 1996, 1998, 2000, and 2002. World Bank Economic Review 18, 253-287.
Kutsuna, K., Smith, R., 2004, Why does book building drive out auction methods of IPO
issuance? Evidence from Japan. Review of Financial Studies 17, 1129-1166.
La Porta, R., Lopez-de-Silanes, F., Shleifer, A., Vishny, R., 1997. Legal Determinants of external
finance. Journal of Finance 52, 1131-1150.
La Porta, R., Lopez-de-Silanes, F., Shleifer, A., Vishny, R., 1998. Law and finance. Journal of
Political Economy 106, 1131-1150.
La Porta, R., Lopez-de-Silanes, F., Shleifer, A., 1999. Corporate ownership around the world.
Journal of Finance 54, 471-517.
La Porta, R., Lopez-de-Silanes, F., Shleifer, A., Vishny, R., 2000a. Agency problems and
dividend policies around the world. Journal of Finance 55, 1-33.
La Porta, R., Lopez-de-Silanes, F., Shleifer, A., Vishny, R., 2000b. Investor protection and
corporate governance. Journal of Financial Economics 58, 3-27.
La Porta, R., Lopez-de-Silanes, F., Shleifer, A., Vishny, R., 2002. Investor protection and
corporate valuation. Journal of Finance 57, 1147-1170.
La Porta, R., Lopez-de-Silanes, F., Shleifer, A., 2006. What works in securities laws? Journal of
Finance 61, 1-32.
Leuz, C., Nanda, D., Wysocki, P., 2003. Earnings management and investor protection: an
international comparison. Journal of Financial Economics 69, 505-527.
Leuz, C. and Verrecchia, R, 2000. The economic consequences of increased disclosure. Journal
of Accounting Research 38, 91-124.
Loughran, T., Ritter, J., Rydqvist, K., 1994. Initial public offerings: international insights. Pacific
Basin Journal 2, 165-199.
Loughran, T., Ritter, J., 2002. Why don’t issuers get upset about leaving money on the Table in
ipos? Review of Financial Studies 15, 413-444.
Loughran, T., Ritter, J., 2004. Why has IPO underpricing changed over time? Financial
Management 33, 5-37.
Ljungqvist, A., 2005. IPO underpricing. Unpublished working paper, Tuck School of Business.
Ljungqvist, A., Wilhelm, W., 2003. IPO pricing in the dot-com bubble. Journal of Finance 58,
Megginson, W., Weiss, K., 1991. Venture capitalist certification in initial public offerings.
Journal of Finance 46, 879-903.
Mello, A., Parsons, J., 1998. Going public and the ownership structure of the firm. Journal of
Financial Economics 49, 79-109.
Nenova, T., 2003. The value of corporate voting rights and control: a cross-country analysis.
Journal of Financial Economics 69, 325–351.
Ritter J., 1984. The hot issue market of 1980. Journal of Business 57, 215-240.
Ritter, J., 1991. The long-run performance of initial public offerings, Journal of Finance 46, 3-27.
Rock, K., 1986. Why new issues are underpriced. Journal of Financial Economics 15, 187-212.
Sherman, J., 2005. Global trends in IPO methods: book building versus auctions with endogenous
entry. Journal of Financial Economics 78, 615-649
Shleifer, A., Vishny, R., 1989. Management entrenchment: The case of manager-specific
investments. Journal of Financial Economics 25, 123-139.
Smart, S., Zutter, C., 2003. Control as a motivation for underpricing: a comparison of dual and
single-class IPOs. Journal of Financial Economics 69, 85-110.
Stoughton, N., Zechner, J., 1998. IPO-mechanisms, monitoring and ownership structure. Journal
of Financial Economics 49, 45-77.
Tinic, S., 1988. Anatomy of initial public offerings of common stock. Journal of Finance 43, 789-
Welch, I., 1992. Sequential sales, learning and cascades. Journal of Finance 47, 695-732.
Zingales, L., 1995. Insider ownership and the decision to go public. Review of Economic Studies