{"id":"https://openalex.org/W1491867255","doi":"https://doi.org/10.1023/a:1011134715911","title":"The Underpricing of Venture and Nonventure Capital IPOs: An Empirical Investigation","display_name":"The Underpricing of Venture and Nonventure Capital IPOs: An Empirical Investigation","publication_year":2001,"publication_date":"2001-04-01","ids":{"openalex":"https://openalex.org/W1491867255","doi":"https://doi.org/10.1023/a:1011134715911","mag":"1491867255"},"language":"en","primary_location":{"id":"doi:10.1023/a:1011134715911","doi":"https://doi.org/10.1023/a:1011134715911","is_oa":false,"landing_page_url":"https://doi.org/10.1023/a:1011134715911","pdf_url":null,"source":{"id":"https://openalex.org/S79175213","display_name":"Journal of Financial Services Research","issn_l":"0920-8550","issn":["0920-8550","1573-0735"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-3","jufo-2","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial Services Research","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"http://archive.nyu.edu/handle/2451/27140","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5011578481","display_name":"Bill B. Francis","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I2613432","display_name":"University of South Florida","ror":"https://ror.org/032db5x82","country_code":"US","type":"education","lineage":["https://openalex.org/I2613432"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Bill B. Francis","raw_affiliation_strings":["College of Business Administration, University of South Florida, Tampa","University of South Florida - College of Business Administration"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"College of Business Administration, University of South Florida, Tampa","institution_ids":["https://openalex.org/I2613432"]},{"raw_affiliation_string":"University of South Florida - College of Business Administration","institution_ids":["https://openalex.org/I2613432"]}]},{"author_position":"last","author":{"id":null,"display_name":"Iftekhar Hasan","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I118118575","display_name":"New Jersey Institute of Technology","ror":"https://ror.org/05e74xb87","country_code":"US","type":"education","lineage":["https://openalex.org/I118118575"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Iftekhar Hasan","raw_affiliation_strings":["School of Management, New Jersey Institute of Technology, Newark"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Management, New Jersey Institute of Technology, Newark","institution_ids":["https://openalex.org/I118118575"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5011578481"],"corresponding_institution_ids":["https://openalex.org/I2613432"],"apc_list":{"value":3090,"currency":"USD","value_usd":3090},"apc_paid":null,"fwci":2.2711,"has_fulltext":true,"cited_by_count":96,"citation_normalized_percentile":{"value":0.90828439,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"19","issue":"2-3","first_page":"99","last_page":"113"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.8026999831199646,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.8026999831199646,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11903","display_name":"Private Equity and Venture Capital","score":0.14869999885559082,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.030700000002980232,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/ipo-underpricing","display_name":"IPO underpricing","score":0.9850000143051147},{"id":"https://openalex.org/keywords/initial-public-offerings","display_name":"initial public offerings","score":0.777999997138977},{"id":"https://openalex.org/keywords/underwriter-reputation","display_name":"underwriter reputation","score":0.796999990940094},{"id":"https://openalex.org/keywords/underwriter-compensation","display_name":"underwriter compensation","score":0.9950000047683716},{"id":"https://openalex.org/keywords/ipo-pricing-efficiency","display_name":"IPO pricing efficiency","score":0.6079999804496765},{"id":"https://openalex.org/keywords/stochastic-frontier-analysis","display_name":"stochastic frontier analysis","score":0.5400000214576721}],"concepts":[{"id":"https://openalex.org/C12559387","wikidata":"https://www.wikidata.org/wiki/Q185142","display_name":"Initial public offering","level":2,"score":0.9589378833770752},{"id":"https://openalex.org/C26503482","wikidata":"https://www.wikidata.org/wiki/Q1898080","display_name":"Underwriting","level":2,"score":0.9433929920196533},{"id":"https://openalex.org/C21279758","wikidata":"https://www.wikidata.org/wiki/Q219409","display_name":"Venture capital","level":2,"score":0.8845107555389404},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.7035604119300842},{"id":"https://openalex.org/C138170105","wikidata":"https://www.wikidata.org/wiki/Q1337949","display_name":"Issuer","level":2,"score":0.5987278819084167},{"id":"https://openalex.org/C134827381","wikidata":"https://www.wikidata.org/wiki/Q261851","display_name":"Social venture capital","level":3,"score":0.44054871797561646},{"id":"https://openalex.org/C2778869765","wikidata":"https://www.wikidata.org/wiki/Q6028363","display_name":"Inefficiency","level":2,"score":0.41783881187438965},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.4099324941635132},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3608701825141907},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.33759966492652893},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.27334266901016235},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.11032840609550476}],"mesh":[],"locations_count":6,"locations":[{"id":"doi:10.1023/a:1011134715911","doi":"https://doi.org/10.1023/a:1011134715911","is_oa":false,"landing_page_url":"https://doi.org/10.1023/a:1011134715911","pdf_url":null,"source":{"id":"https://openalex.org/S79175213","display_name":"Journal of Financial Services Research","issn_l":"0920-8550","issn":["0920-8550","1573-0735"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-3","jufo-2","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial Services Research","raw_type":"journal-article"},{"id":"pmh:http://hdl.handle.net/2451/27140","doi":null,"is_oa":true,"landing_page_url":"http://archive.nyu.edu/handle/2451/27140","pdf_url":"http://archive.nyu.edu/handle/2451/27140","source":{"id":"https://openalex.org/S4377196662","display_name":"Faculty Digital Archive (New York University Florence)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4210123063","host_organization_name":"New York University Florence","host_organization_lineage":["https://openalex.org/I4210123063"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Working Paper"},{"id":"pmh:oai:RePEc:fth:nystfi:99-065","doi":null,"is_oa":false,"landing_page_url":"http://www.stern.nyu.edu/fin/workpapers/papers99/wpa99065.pdf","pdf_url":"http://www.stern.nyu.edu/fin/workpapers/papers99/wpa99065.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:1491867255","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/Delivery.cfm/2451_27140.pdf?abstractid=1298793&mirid=1","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"mag:3125093719","doi":null,"is_oa":false,"landing_page_url":"https://ideas.repec.org/p/fth/nystfi/99-065.html","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"pmh:oai:RePEc:kap:jfsres:v:19:y:2001:i:2:p:99-113","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1023/A:1011134715911","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"pmh:http://hdl.handle.net/2451/27140","doi":null,"is_oa":true,"landing_page_url":"http://archive.nyu.edu/handle/2451/27140","pdf_url":"http://archive.nyu.edu/handle/2451/27140","source":{"id":"https://openalex.org/S4377196662","display_name":"Faculty Digital Archive (New York University Florence)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4210123063","host_organization_name":"New York University Florence","host_organization_lineage":["https://openalex.org/I4210123063"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Working Paper"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/17","display_name":"Partnerships for the goals","score":0.4399999976158142}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W1491867255.pdf","grobid_xml":"https://content.openalex.org/works/W1491867255.grobid-xml"},"referenced_works_count":31,"referenced_works":["https://openalex.org/W1884217820","https://openalex.org/W1969632991","https://openalex.org/W1981566670","https://openalex.org/W1986974585","https://openalex.org/W1997197773","https://openalex.org/W2015497883","https://openalex.org/W2033834012","https://openalex.org/W2034306329","https://openalex.org/W2039962467","https://openalex.org/W2054693433","https://openalex.org/W2060646203","https://openalex.org/W2064360179","https://openalex.org/W2066309326","https://openalex.org/W2073488258","https://openalex.org/W2087865081","https://openalex.org/W2089858078","https://openalex.org/W2095482458","https://openalex.org/W2120898007","https://openalex.org/W2124092784","https://openalex.org/W2125243659","https://openalex.org/W2132582515","https://openalex.org/W2134391930","https://openalex.org/W2135808032","https://openalex.org/W2148198877","https://openalex.org/W3121987829","https://openalex.org/W3122545146","https://openalex.org/W3122904322","https://openalex.org/W3123110835","https://openalex.org/W3123427317","https://openalex.org/W3124574636","https://openalex.org/W4234867117"],"related_works":["https://openalex.org/W7095265400","https://openalex.org/W2559301201","https://openalex.org/W7015916216","https://openalex.org/W2949344408","https://openalex.org/W2087091166","https://openalex.org/W4231813249","https://openalex.org/W2146199539","https://openalex.org/W6991912903","https://openalex.org/W2572763514","https://openalex.org/W199324240"],"abstract_inverted_index":null,"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":2},{"year":2023,"cited_by_count":2},{"year":2022,"cited_by_count":2},{"year":2020,"cited_by_count":4},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":5},{"year":2015,"cited_by_count":5},{"year":2014,"cited_by_count":7},{"year":2013,"cited_by_count":8},{"year":2012,"cited_by_count":10}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}