Arif Khurshed

University of Manchester - Manchester Business School, Division of Accounting Finance

Crawford House

Oxford Road

Manchester , M15 6PB

United Kingdom

  • University of Manchester - Manchester Business School, Division of Accounting Finance

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SCHOLARLY PAPERS

39

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78

Scholarly Papers (39)

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1.

On the Long-Run Performance of IPOs: The Effect of Pre-IPO Management Decisions

Number of pages: 41 Posted: 09 Nov 2001
Arif Khurshed, Marc Goergen and Ram Mudambi
University of Manchester - Manchester Business School, Division of Accounting Finance, IE Business School, IE University and Temple University - Department of Strategic Management
Downloads 1,409 (13,314)

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IPOs, long-run performance, signals

2.

The Effects of Ownership and Stock Liquidity on the Timing of Repurchase Transactions

Downloads 1,274 ( 15,551)
Citation 3

The Effects of Ownership and Stock Liquidity on the Timing of Repurchase Transactions

Number of pages: 59 Posted: 12 Jul 2011 Last Revised: 26 Aug 2012
Amedeo De Cesari, Susanne Espenlaub, Arif Khurshed and Michael Simkovic
University of Manchester - Alliance Manchester Business School - Finance & Accounting Group, University of Manchester - Manchester Business School, University of Manchester - Manchester Business School, Division of Accounting Finance and University of Southern California Gould School of Law
Downloads 1,161 (17,581)
Citation 1

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open market repurchase, timing, ownership, liquidity

The Effects of Ownership and Stock Liquidity on the Timing of Repurchase Transactions

Journal of Corporate Finance, Vol. 18, 2012
Number of pages: 59 Posted: 01 Jul 2011 Last Revised: 26 Aug 2012
Amedeo De Cesari, Susanne Espenlaub, Arif Khurshed and Michael Simkovic
University of Manchester - Alliance Manchester Business School - Finance & Accounting Group, University of Manchester - Manchester Business School, University of Manchester - Manchester Business School, Division of Accounting Finance and University of Southern California Gould School of Law
Downloads 113 (252,067)
Citation 2

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Open market repurchase, timing, ownership, liquidity

3.

Explaining the Diversity in Shareholder Lockup Agreements

Journal of Financial Intermediation, Vol. 15, No. 2, pp. 254-280, April 2006, ECGI - Finance Working Paper No. 48/2004, EFA 2004 Maastricht Meetings Paper No. 1469
Number of pages: 38 Posted: 25 Jul 2004
Marc Goergen, Arif Khurshed and Luc Renneboog
IE Business School, IE University, University of Manchester - Manchester Business School, Division of Accounting Finance and Tilburg University - Department of Finance
Downloads 1,267 (15,699)
Citation 1

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Initial public offerings, lockup agreements, underpricing, asymmetric informa-tion, agency costs, valuation

4.

The Operating Performance of Initial Public Offerings: The UK Experience

Universita di Bergamo Working Paper
Number of pages: 29 Posted: 19 Nov 2003
Arif Khurshed, Stefano Paleari and Silvio Vismara
University of Manchester - Manchester Business School, Division of Accounting Finance, University of Bergamo - SIGE Sezione di Ingegneria Gestionale and University of Bergamo
Downloads 862 (27,699)
Citation 5

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Initial Public, Going public, Operating Performance

5.

The Rise and Fall of the European New Markets: On the Short and Long-Run Performance of High-Tech Initial Public Offerings

ECGI - Finance Working Paper No. 27/2003
Number of pages: 44 Posted: 17 Sep 2003
Marc Goergen, Arif Khurshed, Joseph A. McCahery and Luc Renneboog
IE Business School, IE University, University of Manchester - Manchester Business School, Division of Accounting Finance, Tilburg University - School of Law; European Banking Center (EBC) and Tilburg University - Department of Finance
Downloads 860 (27,792)
Citation 7

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initial public offerings, underpricing, long-term performance, stock exchange regulation, listing rules

6.

The Operating and Shareprice Performance of Initial Public Offerings: The UK Experience

Number of pages: 29 Posted: 24 May 2005
Arif Khurshed, Stefano Paleari and Silvio Vismara
University of Manchester - Manchester Business School, Division of Accounting Finance, University of Bergamo - SIGE Sezione di Ingegneria Gestionale and University of Bergamo
Downloads 700 (36,904)
Citation 6

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Initial Public Offerings (IPOs), going public, operating performance, long-run

7.

Lock-In Agreements in Venture Capital-Backed UK Ipos

ECGI - Finance Working Paper No. 26/2003
Number of pages: 73 Posted: 17 Sep 2003
Susanne Espenlaub, Marc Goergen, Arif Khurshed and Luc Renneboog
University of Manchester - Division of Accounting and Finance, IE Business School, IE University, University of Manchester - Manchester Business School, Division of Accounting Finance and Tilburg University - Department of Finance
Downloads 654 (40,441)
Citation 7

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Initial public offerings, lock-in agreements, high-tech firms, venture capital

8.

Lock-In Agreements in the UK: Is There a Fourth IPO Anomaly?

EFMA 2001 Lugano Meetings
Number of pages: 34 Posted: 16 Apr 2001
Susanne Espenlaub, Marc Goergen and Arif Khurshed
University of Manchester - Division of Accounting and Finance, IE Business School, IE University and University of Manchester - Manchester Business School, Division of Accounting Finance
Downloads 579 (47,557)
Citation 1

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Initial public offerings, lock-in, high-tech

9.

Why are the French so Different from the Germans? Underpricing of IPOs on the Euro New Markets

International Review of Law and Economics, Forthcoming, TILEC Discussion Paper No. 2009-022
Number of pages: 41 Posted: 02 May 2006 Last Revised: 06 Jul 2009
Arif Khurshed, Marc Goergen and Luc Renneboog
University of Manchester - Manchester Business School, Division of Accounting Finance, IE Business School, IE University and Tilburg University - Department of Finance
Downloads 513 (55,416)

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IPOs, underpricing, venture capital, high technology, European New Markets, lock-up agreements

10.

Institutional Block-Holdings of UK Firms: Do Corporate Governance Mechanisms Matter?

Number of pages: 36 Posted: 23 Feb 2007 Last Revised: 20 Dec 2009
Arif Khurshed, Steve W. J. Lin and Mingzhu Wang
University of Manchester - Manchester Business School, Division of Accounting Finance, Florida International University (FIU) - School of Accounting and University of Manchester
Downloads 416 (71,771)
Citation 1

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institutional ownership, directors’ ownership, board structure, corporate governance

11.

A Dissection of Bookbuilt IPOs: Subscriptions, Underpricing, and Initial Returns

Downloads 359 ( 85,150)
Citation 2

A Dissection of Bookbuilt IPOs: Subscriptions, Underpricing, and Initial Returns

Number of pages: 48 Posted: 18 Mar 2009
Arif Khurshed, Alok Pande and Ajai K. Singh
University of Manchester - Manchester Business School, Division of Accounting Finance, Government of India and Department of Finance, University of Central Florida
Downloads 202 (154,813)
Citation 2

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IPOs, bookbuilding, underpricing, winner's curse, sentiment traders

A Dissection of Bookbuilt IPOs: Subscriptions, Underpricing and Initial Returns

Number of pages: 47 Posted: 25 Feb 2010
Arif Khurshed, Alok Pande and Ajai K. Singh
University of Manchester - Manchester Business School, Division of Accounting Finance, Government of India and Department of Finance, University of Central Florida
Downloads 157 (194,131)
Citation 1

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IPOs, Bookbuilding, Underpricing, Winner’s Curse, Sentiment Traders

12.

Stock Market Listing and the Use of Trade Credit: Evidence from Public and Private Firms

Forthcoming, Journal of Corporate Finance
Number of pages: 62 Posted: 06 Dec 2014 Last Revised: 13 Aug 2017
Yomna Abdulla, Viet Anh Dang and Arif Khurshed
Manchester Business School, Alliance Manchester Business School and University of Manchester - Manchester Business School, Division of Accounting Finance
Downloads 299 (104,398)
Citation 2

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Trade credit; Accounts payable; Public firms; Private firms; Speed of adjustment; Financial crisis

13.

The Effects of Ownership and Stock Liquidity on the Timing of Repurchase Transactions

5th Annual Conference on Empirical Legal Studies Paper
Number of pages: 52 Posted: 27 May 2009 Last Revised: 26 Aug 2012
Amedeo De Cesari, Susanne Espenlaub, Arif Khurshed and Michael Simkovic
University of Manchester - Alliance Manchester Business School - Finance & Accounting Group, University of Manchester - Manchester Business School, University of Manchester - Manchester Business School, Division of Accounting Finance and University of Southern California Gould School of Law
Downloads 298 (104,796)

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repurchase, timing, insider ownership, institutional ownership

14.

Trading by Directors Around the Expiry of Lock-In Agreements in UK Ipos

Number of pages: 37 Posted: 22 Mar 2002
Susanne Espenlaub, Marc Goergen, Arif Khurshed and Marko Remenar
University of Manchester - Division of Accounting and Finance, IE Business School, IE University, University of Manchester - Manchester Business School, Division of Accounting Finance and Zagrebacka Banka
Downloads 292 (107,105)

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initial public offerings, lock-in, lock-up

15.

Subscription Patterns, Offer Prices and the Underpricing of IPOs

EFA 2009 Bergen Meetings Paper
Number of pages: 39 Posted: 14 Feb 2009
Arif Khurshed, Alok Pande and Ajai K. Singh
University of Manchester - Manchester Business School, Division of Accounting Finance, Government of India and Department of Finance, University of Central Florida
Downloads 264 (119,109)
Citation 4

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IPOs, bookbuilding, underpricing, winner's curse

16.

The Short-Run Price Performance of Investment Trust Ipos on the UK Main Market

Downloads 251 (125,548)

The Short-Run Price Performance of Investment Trust Ipos on the UK Main Market

Number of pages: 32 Posted: 22 Aug 2001
Ram Mudambi and Arif Khurshed
Temple University - Department of Strategic Management and University of Manchester - Manchester Business School, Division of Accounting Finance
Downloads 251 (124,974)

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Initial public offerings, investment trusts, short-run underpricing

The Short-Run Price Performance of Investment Trust Ipos on the UK Main Market

Applied Financial Economics, Vol. 12, No. 10, pp. 697-706, 2002
Posted: 02 Nov 2001
Ram Mudambi and Arif Khurshed
Temple University - Department of Strategic Management and University of Manchester - Manchester Business School, Division of Accounting Finance

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Initial public offerings, investment trusts, short-run underpricing

17.

The Expiry of Lock-In Agreements of UK Ipos: A Look at the Directors' Trading Activity

EFMA 2003 Helsinki Meetings
Number of pages: 39 Posted: 14 Jun 2003
Susanne Espenlaub, Marc Goergen, Arif Khurshed and Marko Remenar
University of Manchester - Division of Accounting and Finance, IE Business School, IE University, University of Manchester - Manchester Business School, Division of Accounting Finance and Zagrebacka Banka
Downloads 194 (161,013)

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Initial Public Offerings, Lock-in, High-Tech

18.

Sentiment Traders & IPO Initial Returns

Number of pages: 54 Posted: 20 Mar 2011
Arif Khurshed, Alok Pande and Ajai K. Singh
University of Manchester - Manchester Business School, Division of Accounting Finance, Government of India and Department of Finance, University of Central Florida
Downloads 153 (198,141)
Citation 1

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IPOs, bookbuilding, underpricing, winner’s curse, sentiment traders

19.

Firm Innovation and Institutional Investment: The Role of the Sarbanes-Oxley Act

The European Journal of Finance, Forthcoming
Number of pages: 37 Posted: 23 Jan 2013
Nida Abdioglu, Arif Khurshed and Konstantinos Stathopoulos
Bandirma Onyedi Eylul University/ Faculty of Economics and Administrative Sciences, University of Manchester - Manchester Business School, Division of Accounting Finance and The University of Manchester - Alliance Manchester Business School
Downloads 144 (208,337)

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Institutional investors; Sarbanes-Oxley Act; Firm Innovation; Information Asymmetry.

20.

Debt Maturity and Initial Public Offerings (IPOs)

Review of Quantitative Finance and Accounting, Forthcoming
Number of pages: 53 Posted: 15 Dec 2014 Last Revised: 21 Jul 2015
Yomna Abdulla, Viet Anh Dang and Arif Khurshed
Manchester Business School, Alliance Manchester Business School and University of Manchester - Manchester Business School, Division of Accounting Finance
Downloads 141 (211,866)

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IPO, capital structure, debt maturity, short-term debt, asymmetric information, agency costs.

21.

The Role of Cornerstone and Strategic Investors in IPO Survival

Number of pages: 37 Posted: 20 Aug 2015
Susanne Espenlaub, Arif Khurshed, Abdul Mohamed and Brahim Saadouni
University of Manchester - Manchester Business School, University of Manchester - Manchester Business School, Division of Accounting Finance, Cranfield University - School of Management and Alliance Manchester Business School, The University of Manchester
Downloads 134 (220,765)

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survival, IPO, new listings, share allocation, cornerstone investor, strategic investor, demand multiple, Hong Kong

22.

Foreign Institutional Investment: Is Governance Quality at Home Important?

Journal of International Money and Finance, Vol. 32, 2013
Number of pages: 48 Posted: 08 Mar 2011 Last Revised: 24 Jan 2013
Nida Abdioglu, Arif Khurshed and Konstantinos Stathopoulos
Bandirma Onyedi Eylul University/ Faculty of Economics and Administrative Sciences, University of Manchester - Manchester Business School, Division of Accounting Finance and The University of Manchester - Alliance Manchester Business School
Downloads 130 (226,046)
Citation 2

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Foreign institutional investment, home country effect, flight to quality, familiarity argument

23.

Multinationality and the Performance of IPOs

Number of pages: 36 Posted: 20 Sep 2011
Ram Mudambi, Susan M. Mudambi, Arif Khurshed and Marc Goergen
Temple University - Department of Strategic Management, Fox School of Business, Temple University, University of Manchester - Manchester Business School, Division of Accounting Finance and IE Business School, IE University
Downloads 101 (271,232)

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24.

Information Asymmetry, Disclosure and Foreign Institutional Investment: An Empirical Investigation of the Impact of the Sarbanes-Oxley Act

Leeds University Business School Working Paper No. 15-06
Number of pages: 54 Posted: 08 Apr 2015 Last Revised: 28 Nov 2015
Nida Abdioglu, Vassiliki C. Bamiatzi, S. Tamer Cavusgil, Arif Khurshed and Konstantinos Stathopoulos
Bandirma Onyedi Eylul University/ Faculty of Economics and Administrative Sciences, Independent, Georgia State University, University of Manchester - Manchester Business School, Division of Accounting Finance and The University of Manchester - Alliance Manchester Business School
Downloads 89 (294,367)

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Institutional Foreign Investors, Information Asymmetry, Active and Passive Institutional Investors, Sarbanes-Oxley Act

25.

The Effects of Ownership and Stock Liquidity on the Timing of Repurchase Transactions

Downloads 0 (326,240)

The Effects of Ownership and Stock Liquidity on the Timing of Repurchase Transactions

Journal of Corporate Finance, Vol. 18, 2012
Posted: 18 Aug 2012
Amedeo De Cesari, Susanne Espenlaub, Arif Khurshed and Michael Simkovic
University of Manchester - Alliance Manchester Business School - Finance & Accounting Group, University of Manchester - Manchester Business School, University of Manchester - Manchester Business School, Division of Accounting Finance and University of Southern California Gould School of Law

Abstract:

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Open market repurchase, timing, ownership, liquidity

26.

Why Do IPO Firms Choose to Trade on the When-Issued Market?

Number of pages: 38 Posted: 20 Aug 2015
Arif Khurshed, Dimitris Kostas, Abdul Mohamed and Brahim Saadouni
University of Manchester - Manchester Business School, Division of Accounting Finance, University of Manchester - Manchester Business School, Cranfield University - School of Management and Alliance Manchester Business School, The University of Manchester
Downloads 54 (386,445)

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IPOs, when-issued market

27.

How Do Local Venture Capital Firms Benefit from Cross-Border Syndications with Foreign Partners?

Number of pages: 41 Posted: 10 Feb 2018
Arif Khurshed, Abdul Mohamed, Armin Schwienbacher and Fan Wang
University of Manchester - Manchester Business School, Division of Accounting Finance, Cranfield University - School of Management, SKEMA Business School and University of Manchester - Manchester Business School
Downloads 51 (396,356)

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VC exit, cross-border deals, syndication, local venture capital

28.

Performance-Chasing in Venture Capital Investments

Number of pages: 30 Posted: 20 Aug 2015 Last Revised: 30 Aug 2017
Imtiaz ul Haq and Arif Khurshed
Lahore University of Management Sciences (LUMS) and University of Manchester - Manchester Business School, Division of Accounting Finance
Downloads 46 (413,923)

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venture capital, investment behaviour

29.

Loan Price in Mergers and Acquisitions

Number of pages: 46 Posted: 02 Aug 2018 Last Revised: 15 Sep 2019
Ning Gao, Chen Hua and Arif Khurshed
Manchester Accounting and Finance Group, Alliance Manchester Business School, University of Manchester, The University of Manchester and University of Manchester - Manchester Business School, Division of Accounting Finance
Downloads 34 (462,589)

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loan price; mergers and acquisitions (M&As); relative deal size; post-acquisition performance

30.

Stock Repurchases and Treasury Share Sales: Do They Stabilize Price and Enhance Liquidity?

Journal of Corporate Finance, Vol. 17, pp. 1558-1579, 2011
Number of pages: 64 Posted: 18 Aug 2008 Last Revised: 18 Nov 2017
Amedeo De Cesari, Susanne Espenlaub and Arif Khurshed
University of Manchester - Alliance Manchester Business School - Finance & Accounting Group, University of Manchester - Manchester Business School and University of Manchester - Manchester Business School, Division of Accounting Finance
Downloads 19 (543,501)

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Repurchase, liquidity, price stabilization, bid-ask spread, variance

31.

Initial Public Offerings on the UK When-Issued Market

Number of pages: 37 Posted: 19 Aug 2016
Arif Khurshed, Dimitris Kostas, Abdul Mohamed and Brahim Saadouni
University of Manchester - Manchester Business School, Division of Accounting Finance, University of Manchester - Manchester Business School, Cranfield University - School of Management and Alliance Manchester Business School, The University of Manchester
Downloads 17 (555,663)

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IPOs, when-issued market, grey market, rent, retail investors, London Stock Exchange

32.

Suppliers’ Listing Status and Trade Credit Provision

Journal of Corporate Finance, Forthcoming
Number of pages: 62 Posted: 11 Nov 2019
Yomna Abdulla, Viet Anh Dang and Arif Khurshed
Manchester Business School, Alliance Manchester Business School and University of Manchester - Manchester Business School, Division of Accounting Finance
Downloads 14 (574,134)

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trade credit, accounts receivable, public firms, private firms

33.

IPO Survival and Institutional Investment

Number of pages: 32 Posted: 19 Aug 2014
Susanne Espenlaub, Arif Khurshed, Abdul Mohamed and Brahim Saadouni
University of Manchester - Manchester Business School, University of Manchester - Manchester Business School, Division of Accounting Finance, Cranfield University - School of Management and Alliance Manchester Business School, The University of Manchester
Downloads 14 (574,134)

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survival, IPO, new listings, institutional allocation, demand multiple, Hong Kong

34.

The Strategy of Going Public: How UK Firms Choose Their Listing Contracts

Journal of Business Finance & Accounting, Vol. 33, No. 1-2, pp. 79-101, January/March 2006
Number of pages: 23 Posted: 15 Apr 2006
Marc Goergen, Arif Khurshed and Ram Mudambi
IE Business School, IE University, University of Manchester - Manchester Business School, Division of Accounting Finance and Temple University - Department of Strategic Management
Downloads 14 (574,134)
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35.

Cross-Border Venture Capital Investments: The Impact of Foreignness on Returns

Journal of International Business Studies, Vol. 49, Issue 5, 2017
Number of pages: 30 Posted: 13 Jun 2018
Axel Buchner, Susanne Espenlaub, Arif Khurshed and Abdul Mohamed
University of Passau, University of Manchester - Manchester Business School, University of Manchester - Manchester Business School, Division of Accounting Finance and Cranfield University - School of Management
Downloads 2 (658,005)
Citation 1
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venture capital, cross-border, return, IRR, PME, foreignness, distance

36.

IPO Survival in a Reputational Market

Journal of Business Finance & Accounting, Vol. 39, Issue 3‐4, pp. 427-463, 2012
Number of pages: 37 Posted: 21 Apr 2012
Susanne Espenlaub, Arif Khurshed and Abdul Mohamed
University of Manchester - Manchester Business School, University of Manchester - Manchester Business School, Division of Accounting Finance and Cranfield University - School of Management
Downloads 1 (670,064)
Citation 2
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IPO, new list(ing), survival, delisting, Alternative Investment Market, AIM, nominated advisor, Nomad

37.

The Long Run Performance of U.K. IPOs: Can it Be Predicted?

Managerial Finance, Vol. 33, No. 6, pp. 401-419, 2007
Posted: 05 Nov 2007
Arif Khurshed, Marc Goergen and Ram Mudambi
University of Manchester - Manchester Business School, Division of Accounting Finance, IE Business School, IE University and Temple University - Department of Strategic Management

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Company performance, Share values, Strategic management, Decision making

38.

Initial Public Offerings: Does Multinationality Matter?

Finance Letters, Vol. 1, No. 1, 2003
Posted: 06 Jun 2003
Arif Khurshed
University of Manchester - Manchester Business School, Division of Accounting Finance

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IPOs, Multinationality, Short-Run Performance, Long-Run Performance

39.

IPO Lock-In Agreements in the UK

Journal of Business Finance & Accounting, Vol. 28, No. 9-10, November/December 2001
Posted: 19 Feb 2002
Susanne Espenlaub, Marc Goergen and Arif Khurshed
University of Manchester - Division of Accounting and Finance, IE Business School, IE University and University of Manchester - Manchester Business School, Division of Accounting Finance

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Initial Public Offerings, Lock-in, High-Tech