Jay R. Ritter

University of Florida - Department of Finance, Insurance and Real Estate

Cordell Professor of Finance

P.O. Box 117168

Gainesville, FL 32611

United States

http://https://site.warrington.ufl.edu/ritter

SCHOLARLY PAPERS

45

DOWNLOADS
Rank 567

SSRN RANKINGS

Top 567

in Total Papers Downloads

50,825

SSRN CITATIONS
Rank 425

SSRN RANKINGS

Top 425

in Total Papers Citations

1,427

CROSSREF CITATIONS

821

Scholarly Papers (45)

1.
Downloads 16,233 ( 258)
Citation 507

A Review of IPO Activity, Pricing and Allocations

Yale ICF Working Paper No. 02-01
Number of pages: 45 Posted: 09 Jan 2002
Jay R. Ritter and Ivo Welch
University of Florida - Department of Finance, Insurance and Real Estate and University of California, Los Angeles (UCLA)
Downloads 15,950 (262)
Citation 117

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IPOs

A Review of IPO Activity, Pricing, and Allocations

NBER Working Paper No. w8805
Number of pages: 45 Posted: 21 Feb 2002 Last Revised: 25 Jul 2021
Ivo Welch and Jay R. Ritter
University of California, Los Angeles (UCLA) and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 283 (140,007)
Citation 131

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A Review of IPO Activity, Pricing, and Allocations

Posted: 30 Dec 2003
Ivo Welch and Jay R. Ritter
University of California, Los Angeles (UCLA) and University of Florida - Department of Finance, Insurance and Real Estate

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2.
Downloads 7,584 ( 1,074)
Citation 226

Why Has IPO Underpricing Changed Over Time?

Number of pages: 55 Posted: 18 Sep 2002
Tim Loughran and Jay R. Ritter
University of Notre Dame and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 7,567 (1,070)
Citation 339

Abstract:

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Initial public offerings, internet bubble, underwriter reputation, spinning

Why Has IPO Underpricing Changed Over Time?

Number of pages: 34 Posted: 20 Aug 2004
Tim Loughran and Jay R. Ritter
University of Notre Dame and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 17 (704,533)
Citation 5
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3.

SPACs

Number of pages: 69 Posted: 22 Feb 2021 Last Revised: 14 Dec 2021
Minmo Gahng, Jay R. Ritter and Donghang Zhang
University of Florida - Department of Finance, Insurance and Real Estate, University of Florida - Department of Finance, Insurance and Real Estate and University of South Carolina
Downloads 4,354 (2,828)
Citation 9

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Special Purpose Acquisition Company, SPAC, IPO

4.

Where Have All the IPOs Gone?

Number of pages: 56 Posted: 05 Nov 2011 Last Revised: 26 Sep 2013
Jay R. Ritter, Xiaohui Gao and Zhongyan Zhu
University of Florida - Department of Finance, Insurance and Real Estate, Fox School of Business, Temple University and Monash University
Downloads 2,323 (8,044)
Citation 67

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IPO volume, trade sales, economies of scope, effects of Sarbanes-Oxley, VC exits

5.

Why Don't Issuers Get Upset About Leaving Money on the Table in Ipos?

Number of pages: 35 Posted: 29 Sep 2000
Tim Loughran and Jay R. Ritter
University of Notre Dame and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 2,215 (8,673)
Citation 97

Abstract:

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Initial public offerings, prospect theory, behavioral finance, hot issue markets

6.

Short Interest, Institutional Ownership, and Stock Returns

Number of pages: 45 Posted: 06 Apr 2004
Paul Asquith, Parag A. Pathak and Jay R. Ritter
Massachusetts Institute of Technology (MIT) - Economics, Finance, Accounting (EFA), Massachusetts Institute of Technology (MIT) - Department of Economics and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 2,150 (9,092)
Citation 118

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Short Sales, Limits to Arbitrage, Short Selling

7.

Economic Growth and Equity Returns

Number of pages: 20 Posted: 27 Feb 2005
Jay R. Ritter
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 2,003 (10,237)
Citation 4

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Economic Growth, Equity Premium Puzzle

Testing Theories of Capital Structure and Estimating the Speed of Adjustment

20th Australasian Finance & Banking Conference 2007 Paper
Number of pages: 65 Posted: 18 Oct 2006 Last Revised: 29 Jun 2009
Rongbing Huang and Jay R. Ritter
Kennesaw State University - Michael J. Coles College of Business and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 1,697 (13,142)
Citation 88

Abstract:

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capital structure, market timing, pecking order, static tradeoff, speed of adjustment, long difference

Testing Theories of Capital Structure and Estimating the Speed of Adjustment

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Posted: 25 Mar 2008
Rongbing Huang and Jay R. Ritter
Kennesaw State University - Michael J. Coles College of Business and University of Florida - Department of Finance, Insurance and Real Estate

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capital structure, market timing, static tradeoff, speed of adjustment

9.

Equilibrium in the IPO Market

Number of pages: 38 Posted: 25 Apr 2011 Last Revised: 28 Apr 2011
Jay R. Ritter
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 1,089 (26,095)
Citation 18

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adverse selection, bookbuilding, initial public offerings, long-run performance, market timing, underpricing

10.

2013 State of Entrepreneurship Address: 'Financing Entrepreneurial Growth'

Ewing Marion Kauffman Foundation Research Paper
Number of pages: 16 Posted: 07 Feb 2013
Madrona Venture Group, Bogan Associates, LLC, Private Investor, University of California, Berkeley - School of Law, Gruter Institute for Law and Behavioral Research, Vermont Law School, WR Hambrecht + Co, National Association of Securities Dealers, Inc., NASD, University of Oxford - Said Business School, Independent, Ewing Marion Kauffman Foundation, Harvard Business School - Finance Unit, Council on Foreign Relations (CFR) - Council on Foreign Relations- Washington D.C., Ewing Marion Kauffman Foundation, Harvard University - Entrepreneurial Management Unit, University of California, Berkeley - School of Law, BATS Global Markets, Inc., AngelList, University of Florida - Department of Finance, Insurance and Real Estate, University of Colorado at Boulder, Fuqua School of Business, Duke University, Manhattan Institute, SecondMarket, Babson College, Ewing Marion Kauffman Foundation and Astia
Downloads 922 (33,111)
Citation 1

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state of entrepreneurship, entrepreneurship, state, national, policy, job creation, regulation, barriers, growth, finance, crowdfunding, bank debt, IPO, venture capital

11.

The Marketing of Seasoned Equity Offerings

20th Australasian Finance & Banking Conference 2007 Paper
Number of pages: 48 Posted: 20 Mar 2007 Last Revised: 15 Mar 2010
Xiaohui Gao and Jay R. Ritter
Fox School of Business, Temple University and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 851 (36,975)
Citation 30

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Marketing of securities, Follow-on offerings, Seasoned equity offerings, Bookbuilding

12.

Corporate Cash Shortfalls and Financing Decisions

Review of Financial Studies, Forthcoming
Number of pages: 90 Posted: 04 Apr 2015 Last Revised: 01 Jul 2020
Rongbing Huang and Jay R. Ritter
Kennesaw State University - Michael J. Coles College of Business and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 763 (42,925)
Citation 10

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Key Words: Cash Needs, Cash Holdings, External Financing, Security Issuance, SEO, PIPE, Bond Offering, Bank Loan, Financing Decision, Capital Structure, Floatation Cost, Precautionary Saving, Market Timing, Pecking Order, Corporate Lifecycle, Financial Flexibility, Static Tradeoff, Dynamic Tradeoff

13.

Re-Energizing the IPO Market

Number of pages: 26 Posted: 08 Nov 2012 Last Revised: 02 Nov 2014
Jay R. Ritter
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 726 (45,888)
Citation 11

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Initial Public Offerings, IPO Volume, JOBS Act

14.

Pre-IPO Analyst Coverage: Hype or Information Production?

Number of pages: 61 Posted: 12 Dec 2017 Last Revised: 28 Aug 2019
Chunxin Jia, Jay R. Ritter, Zhen Xie and Donghang Zhang
Peking University - Guanghua School of Management, University of Florida - Department of Finance, Insurance and Real Estate, Shanghai University of Finance and Economics and University of South Carolina
Downloads 652 (52,949)
Citation 3

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Analysts, IPOs, Primary Market, Offer Price Revision, Underpricing, China

15.

The Economic Consequences of IPO Spinning

AFA 2008 New Orleans Meetings Paper
Number of pages: 40 Posted: 10 Mar 2007 Last Revised: 23 Sep 2009
Xiaoding Liu and Jay R. Ritter
Texas A&M University - Department of Finance and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 600 (58,870)
Citation 17

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Spinning, IPOs, SEOs, Underpricing

16.

Patents, Innovation, and Performance of Venture Capital-backed IPOs

Number of pages: 55 Posted: 08 Dec 2013 Last Revised: 17 Jan 2015
Jerry Cao, Fuwei Jiang and Jay R. Ritter
Independent, Central University of Finance and Economics (CUFE) and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 555 (64,986)
Citation 10

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Initial public offerings, Venture capital, Patents, Innovation, Long-run performance

17.
Downloads 509 ( 72,322)
Citation 60

Europe's Second Markets for Small Companies

Number of pages: 49 Posted: 09 Nov 2011 Last Revised: 05 Jan 2012
Silvio Vismara, Stefano Paleari and Jay R. Ritter
University of Bergamo, University of Bergamo - SIGE Sezione di Ingegneria Gestionale and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 508 (71,772)
Citation 1

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stock exchanges, second markets, financial regulation, IPOs, AIM, London Stock Exchange, Neuer Markt

Europe's Second Markets for Small Companies

European Financial Management, Vol. 18, Issue 3, pp. 352-388, 2012
Number of pages: 37 Posted: 19 May 2012
Silvio Vismara, Stefano Paleari and Jay R. Ritter
University of Bergamo, University of Bergamo - SIGE Sezione di Ingegneria Gestionale and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 1 (850,081)
Citation 7
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stock exchanges, second markets, financial regulation, IPOs, AIM, London Stock Exchange, Neuer Markt

18.

Local Underwriter Oligopolies and IPO Underpricing

Number of pages: 52 Posted: 27 Nov 2009 Last Revised: 04 Mar 2011
Xiaoding Liu and Jay R. Ritter
Texas A&M University - Department of Finance and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 497 (74,460)
Citation 28

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IPOs, Underwriters, Oligopoly, Venture Capital, Analysts

19.

Private Equity Firms’ Reputational Concerns and the Costs of Debt Financing

Number of pages: 63 Posted: 23 Jan 2013 Last Revised: 23 Feb 2014
Rongbing Huang, Jay R. Ritter and Donghang Zhang
Kennesaw State University - Michael J. Coles College of Business, University of Florida - Department of Finance, Insurance and Real Estate and University of South Carolina
Downloads 496 (74,649)
Citation 5

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IPOs, Buyout Groups, Private Equity, Reputation, Agency Costs, Bond Offering

20.

Economies of Scope and IPO Activity in Europe

Number of pages: 29 Posted: 02 Nov 2012
Jay R. Ritter, Andrea Signori and Silvio Vismara
University of Florida - Department of Finance, Insurance and Real Estate, Catholic University of Milan and University of Bergamo
Downloads 490 (75,754)
Citation 9

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IPOs, initial public offerings, IPO volume, trade sales, M&A, economies of scope, financial regulation, European markets

21.

Post-IPO Employment and Revenue Growth for U.S. IPOs, June 1996-2010

Number of pages: 24 Posted: 22 May 2012
Martin Kenney, Donald Patton and Jay R. Ritter
University of California, Davis, University of California, Davis - Department of Human & Community Development and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 489 (75,956)
Citation 8

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IPO, initial public offering, policy, startup, firm, employment, revenue, company, companies

22.

Pre-Market Trading and IPO Pricing

Review of Financial Studies, Forthcoming
Number of pages: 47 Posted: 05 Mar 2014 Last Revised: 06 May 2016
Chun Chang, Yao-Min Chiang, Yiming Qian and Jay R. Ritter
Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF), National Taiwan University - Department of Finance, University of Connecticut and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 485 (76,740)
Citation 7

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initial public offering, pre-IPO market, IPO underpricing, agency problem, rent-seeking underwriter, bookbuilding theory, information asymmetry, Taiwan stock exchange

23.

Analyst Behavior Following Ipos: The 'Bubble Period' Evidence

Review of Financial Studies, Volume 21, Pages 101-133
Number of pages: 48 Posted: 20 Jul 2005 Last Revised: 25 Apr 2019
Daniel Bradley, Jay R. Ritter and Bradford D. Jordan
University of South Florida, University of Florida - Department of Finance, Insurance and Real Estate and University of Florida
Downloads 483 (77,124)
Citation 21

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IPO, analyst, quiet period, bubble

Affiliated Mutual Funds and the Allocation of Initial Public Offerings

AFA 2006 Boston Meetings Paper
Number of pages: 47 Posted: 24 Apr 2005
Jay R. Ritter and Donghang Zhang
University of Florida - Department of Finance, Insurance and Real Estate and University of South Carolina
Downloads 388 (98,886)
Citation 43

Abstract:

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Initial public offerings, mutual funds, IPO allocations

Affiliated Mutual Funds and the Allocation of Initial Public Offerings

Journal of Financial Economics, Forthcoming
Posted: 10 Oct 2006
Donghang Zhang and Jay R. Ritter
University of South Carolina and University of Florida - Department of Finance, Insurance and Real Estate

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Initial public offerings, mutual funds, IPO allocations

25.

The Puzzle of Frequent and Large Issues of Debt and Equity

Journal of Financial and Quantitative Analysis, Forthcoming
Number of pages: 115 Posted: 16 Mar 2017 Last Revised: 05 May 2020
Rongbing Huang and Jay R. Ritter
Kennesaw State University - Michael J. Coles College of Business and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 349 (112,285)
Citation 3

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New issues puzzle, Seasoned Equity Offerings, Debt issues, Equity issues, Long-run performance, Market efficiency

26.

Do Today's Trades Affect Tomorrow's IPO Allocations?

AFA 2005 Philadelphia Meetings, Forthcoming
Number of pages: 36 Posted: 05 Jan 2005
University of Florida - Department of Finance, Insurance and Real Estate, University of Florida - Department of Finance, Insurance and Real Estate and University of South Carolina
Downloads 298 (133,287)
Citation 25

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IPOs, brokerage commissions

27.

Initial Public Offerings Chinese Style

Number of pages: 62 Posted: 15 Sep 2020 Last Revised: 21 Mar 2021
Yiming Qian, Jay R. Ritter and Xinjian Shao
University of Connecticut, University of Florida - Department of Finance, Insurance and Real Estate and University of International Business and Economics (UIBE)
Downloads 292 (136,138)
Citation 4

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IPO, China, STAR Market, IPO Method, Under-pricing, Bidding, Allocation, Trading, registration system, reform

28.
Downloads 269 (148,171)
Citation 11

Growth Capital-Backed IPOs

Number of pages: 42 Posted: 23 May 2014 Last Revised: 14 May 2015
Jay R. Ritter
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 269 (147,571)
Citation 4

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Buyouts, growth capital, initial public offerings, long-run performance, reverse LBOs, rollups, venture capital

Growth Capital‐Backed IPOs

Financial Review, Vol. 50, Issue 4, pp. 481-515, 2015
Number of pages: 35 Posted: 26 Oct 2015
Jay R. Ritter
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 0
Citation 2
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buyouts, growth capital, growth equity, initial public offerings, long‐run performance, reverse LBOs, rollups, venture capital

29.

Institutional Affiliation and the Role of Venture Capital: Evidence from Initial Public Offerings in Japan

FRB of New York Staff Report No. 52
Number of pages: 50 Posted: 15 Oct 2006
University of Southern California - Marshall School of Business - Finance and Business Economics DepartmentCenter on Japanese Economy and Business, University of Florida - Department of Finance, Insurance and Real Estate and Bank for International Settlements (BIS)
Downloads 251 (158,863)
Citation 21

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30.

The Speed of Adjustment to the Target Market Value Leverage Is Slower Than You Think

Journal of Financial and Quantitative Analysis 55, no. 4 (2020): 1946-1977.
Number of pages: 67 Posted: 19 Sep 2016 Last Revised: 15 Mar 2021
Qie Ellie Yin and Jay R. Ritter
Hong Kong Baptist University and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 247 (161,321)
Citation 5

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Capital Structure, Leverage, Speed of Adjustment, Target Leverage

31.

Short Interest and Stock Returns

NBER Working Paper No. w10434
Number of pages: 47 Posted: 03 May 2004 Last Revised: 05 Jan 2022
Paul Asquith, Jay R. Ritter and Parag A. Pathak
Massachusetts Institute of Technology (MIT) - Economics, Finance, Accounting (EFA), University of Florida - Department of Finance, Insurance and Real Estate and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 222 (178,681)
Citation 3

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32.

Closed-End Fund IPOs: Sold, Not Bought

forthcoming, Critical Finance Review
Number of pages: 64 Posted: 01 Sep 2015 Last Revised: 03 Feb 2021
Diana Shao and Jay R. Ritter
Oregon State University - College of Business and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 196 (200,539)
Citation 2

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Closed-end Funds, Initial Public Offerings, Agency Problems, Underwriters

33.

Anatomy of a World-Class Standards Body: The Origins and Future of the CUSIP System

Number of pages: 6 Posted: 18 Feb 2021
Jay R. Ritter and Phillip Wool
University of Florida - Department of Finance, Insurance and Real Estate and Rayliant Global Advisors
Downloads 72 (413,045)

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CUSIP numbers, Financial standards setting

34.

Amplitude's Direct Listing

Number of pages: 16 Posted: 01 Jan 2022
Jay R. Ritter
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 53 (480,310)

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Direct Listing, IPO, Venture Capital, Valuation, Dual Class Structure, Investor Education meeting

35.

Is Economic Growth Good for Investors?

Journal of Applied Corporate Finance, Vol. 24, Issue 3, pp. 8-18, 2012
Number of pages: 13 Posted: 13 Oct 2012
Jay R. Ritter
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 22 (644,523)
Citation 2
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36.

Equilibrium in the Initial Public Offerings Market

Annual Review of Financial Economics, Vol. 3, pp. 347-374, 2011
Posted: 10 Jan 2012
Jay R. Ritter
University of Florida - Department of Finance, Insurance and Real Estate

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37.

The Long-Run Performance of Initial Public Offerings

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 17 Nov 2009
Jay R. Ritter
University of Florida - Department of Finance, Insurance and Real Estate

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Startups, Initial public offerings (IPO), Securities offerings, Valuation, Underpricing, Market value

38.

Investment Banking, Reputation, and the Underpricing of Initial Public Offerings

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 17 Nov 2009
Randolph P. Beatty and Jay R. Ritter
University of Southern California - Leventhal School of Accounting and University of Florida - Department of Finance, Insurance and Real Estate

Abstract:

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Credibility, Reputation, Uncertainty, Underpricing, Initial public offerings (IPO), Investment bankers, Investors, Investment banks

39.

The "Hot Issue" Market of 1980

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 17 Nov 2009
Jay R. Ritter
University of Florida - Department of Finance, Insurance and Real Estate

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Industry sectors, Stock offerings, Rates of return, Initial public offerings (IPO), Natural resources, Risk assessment, Underpricing

40.

Analyst Behavior Following IPOs: The Bubble Period Evidence

The Review of Financial Studies, Vol. 21, No. 1, pp. 101-133, 2008
Posted: 25 Jun 2008
Daniel Bradley, Bradford D. Jordan and Jay R. Ritter
University of South Florida, University of Florida and University of Florida - Department of Finance, Insurance and Real Estate

Abstract:

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41.

The IPO Quiet Period Revisited

Journal Of Investment Management, Vol. 2, No. 3, Third Quarter 2004
Posted: 16 Sep 2004
University of South Florida, University of Florida, University of Florida - Department of Finance, Insurance and Real Estate and Clemson University - Department of Finance

Abstract:

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Analyst initiations, Analyst recommendations, Quiet period, Initial Public Offerings

42.

The Quiet Period Goes Out with a Bang

Posted: 04 Jun 2003
Daniel Bradley, Bradford D. Jordan and Jay R. Ritter
University of South Florida, University of Florida and University of Florida - Department of Finance, Insurance and Real Estate

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43.

Uniformly Least Powerful Tests of Market Efficiency

Posted: 15 Aug 2001
Tim Loughran and Jay R. Ritter
University of Notre Dame and University of Florida - Department of Finance, Insurance and Real Estate

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Market efficiency, Anomalies, New issues puzzle, Risk factors

44.

The New Issues Puzzle

Posted: 03 May 2000
Tim Loughran and Jay R. Ritter
University of Notre Dame and University of Florida - Department of Finance, Insurance and Real Estate

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The Operating Performance of Firms Conducting Seasoned Equity Offerings

Journal of Finance, Vol. 52 No. 4, December 1997
Posted: 12 Apr 1998
Tim Loughran and Jay R. Ritter
University of Notre Dame and University of Florida - Department of Finance, Insurance and Real Estate

Abstract:

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The Operating Performance of Firms Conducting Seasoned Equity Offerings

Posted: 07 Feb 1995
Tim Loughran and Jay R. Ritter
University of Notre Dame and University of Florida - Department of Finance, Insurance and Real Estate

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