Marketing an IPO issuer in early stages of the IPO process

Name: Marketing an IPO issuer in early stages of the IPO process
Author: Bahadır, Cem, DeKinder, J. S., Kohli, A. K.

İsim	Marketing an IPO issuer in early stages of the IPO process
Yazar	Bahadır, Cem, DeKinder, J. S., Kohli, A. K.
Basım Tarihi:	2015-01
Basım Yeri	- Springer Science+Business Media
Konu	IPO marketing, Cue utilization, Attention-based view
Tür	Süreli Yayın
Dil	İngilizce
Dijital	Evet
Yazma	Hayır
Kütüphane:	Özyeğin Üniversitesi
Demirbaş Numarası	0092-0703
Kayıt Numarası	a2994f69-5be6-442e-907e-7e60d0db01fa
Tarih	2015-01
Notlar	Due to copyright restrictions, the access to the full text of this article is only available via subscription.
Örnek Metin	Successful marketing of an IPO issuer depends on the issuer’s attractiveness to early stage stakeholders such as underwriters and institutional investors. However, there is limited research on how these stakeholders evaluate IPO issuers. We investigate how a multitude of cues influence underwriter prestige and price shortfall. In addition, we draw on cue utilization theory and the attention-based view of the firm to hypothesize contrasting uses of cues by underwriters and institutional investors. An empirical examination of 119 IPOs using 2SLS identifies cues that help increase underwriter prestige and reduce price shortfall. Furthermore, our estimation reveals important differences between the two early stage stakeholders—whereas underwriters rely more on intrinsic cues to evaluate the attractiveness of IPO issuers, institutional investors rely more on extrinsic cues. These findings have important theoretical implications as well as normative implications for marketing an IPO issuer in early stages of the IPO process.
DOI	10.1007/s11747-014-0393-6
Cilt	43

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Marketing an IPO issuer in early stages of the IPO process

Yazar Bahadır, Cem, DeKinder, J. S., Kohli, A. K.

Basım Tarihi 2015-01

Basım Yeri - Springer Science+Business Media

Konu IPO marketing, Cue utilization, Attention-based view

Tür Süreli Yayın

Dil İngilizce

Dijital Evet

Yazma Hayır

Kütüphane Özyeğin Üniversitesi

Demirbaş Numarası 0092-0703

Kayıt Numarası a2994f69-5be6-442e-907e-7e60d0db01fa

Tarih 2015-01

Notlar Due to copyright restrictions, the access to the full text of this article is only available via subscription.

Örnek Metin Successful marketing of an IPO issuer depends on the issuer’s attractiveness to early stage stakeholders such as underwriters and institutional investors. However, there is limited research on how these stakeholders evaluate IPO issuers. We investigate how a multitude of cues influence underwriter prestige and price shortfall. In addition, we draw on cue utilization theory and the attention-based view of the firm to hypothesize contrasting uses of cues by underwriters and institutional investors. An empirical examination of 119 IPOs using 2SLS identifies cues that help increase underwriter prestige and reduce price shortfall. Furthermore, our estimation reveals important differences between the two early stage stakeholders—whereas underwriters rely more on intrinsic cues to evaluate the attractiveness of IPO issuers, institutional investors rely more on extrinsic cues. These findings have important theoretical implications as well as normative implications for marketing an IPO issuer in early stages of the IPO process.

DOI 10.1007/s11747-014-0393-6

Cilt 43