This study documents corporate culture at the time of initial public offering (IPO) and relationship between IPO firm financial performance. Based on a sample 1157 US firms that went 1996 2011 performance information through 2016, data provide strong evidence regional culture, industry characteristics, pre-IPO financing play key roles in explaining firm's cultural orientation. Moreover, indicat...

IPOs affiliated to business groups represent a large fraction of new issues in global markets. Groups are characterized by stronger private benefits control and an internal funding advantage. Consistent with these features, group firms more selective when going public than standalone firms. In particular, larger older engage less market timing IPOs. Group invest profitable post IPO. Private als...

We propose a rationale for why firms often return to the equity market shortly after their initial public offering (IPO). argue that hard value conduct smaller IPOs, and they conditional on positive valuation signal. This is driven by two-way learning, as information complements both corporate disclosure internal available management. In contrast prior studies, we find asymmetry not necessary c...

Inositol phospho-oligosaccharides (IPOs), which are released from liver membranes upon stimulation by insulin, mimic a wide spectrum of insulin effects in different cells, but not the stimulation of glucose transport. We investigated whether other insulin-sensitive tissues release glucose transport-stimulating IPOs and whether this is related to the human insulin receptor isoform-A or -B (HIR-A...

We find direct evidence that institutions increase round-trip stock trades, increase average commissions per share, and pay unusually high commissions on some trades in order to send abnormally high commissions to the lead underwriters of profitable initial public offerings (IPOs). These excess commission payments are a particularly effective way for transient investors to receive lucrative IPO...

Combining data on explicit brokerage commissions that mutual fund families paid for trade execution between 1996 and 1999 with data on mutual fund holdings of initial public offerings (IPOs), I document a robust positive correlation between commissions paid to lead underwriters and reported holdings of the IPOs they underwrote. Moreover, I find that the correlation is limited to IPOs with nonne...

Since the early work of Jensen and Meckling, agency con ̄icts and their effects on the ®rm have been widely researched in ®nance. The present literature has examined the relationship between corporate governance and ®nancial performance for both existing stock companies and the plethora of recent IPO ®rms. In Corporate Governance and Financial Performance: A Study of German and UK Initial Public...