{"id":"https://openalex.org/W2001600103","doi":"https://doi.org/10.1080/00014788.1993.9729461","title":"Initial Public Offerings on the Unlisted Securities Market: The Impact of Professional Advisers","display_name":"Initial Public Offerings on the Unlisted Securities Market: The Impact of Professional Advisers","publication_year":1993,"publication_date":"1993-12-01","ids":{"openalex":"https://openalex.org/W2001600103","doi":"https://doi.org/10.1080/00014788.1993.9729461","mag":"2001600103"},"language":"en","primary_location":{"id":"doi:10.1080/00014788.1993.9729461","doi":"https://doi.org/10.1080/00014788.1993.9729461","is_oa":false,"landing_page_url":"https://doi.org/10.1080/00014788.1993.9729461","pdf_url":null,"source":{"id":"https://openalex.org/S323237","display_name":"Accounting and Business Research","issn_l":"0001-4788","issn":["0001-4788","2159-4260"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Accounting and Business Research","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5017165344","display_name":"Kevin Holland","orcid":"https://orcid.org/0000-0002-0414-2503","observed_orcids":["https://orcid.org/0000-0002-0414-2503"]},"institutions":[{"id":"https://openalex.org/I16038530","display_name":"Aberystwyth University","ror":"https://ror.org/015m2p889","country_code":"GB","type":"education","lineage":["https://openalex.org/I16038530"]},{"id":"https://openalex.org/I97429440","display_name":"University of Wales","ror":"https://ror.org/01se4f844","country_code":"GB","type":"education","lineage":["https://openalex.org/I97429440"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"K. M. Holland","raw_affiliation_strings":["Department of Accounting, University of Wales, Aberystwyth"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Accounting, University of Wales, Aberystwyth","institution_ids":["https://openalex.org/I16038530","https://openalex.org/I97429440"]}]},{"author_position":"last","author":{"id":null,"display_name":"J. G. Horton","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I16038530","display_name":"Aberystwyth University","ror":"https://ror.org/015m2p889","country_code":"GB","type":"education","lineage":["https://openalex.org/I16038530"]},{"id":"https://openalex.org/I97429440","display_name":"University of Wales","ror":"https://ror.org/01se4f844","country_code":"GB","type":"education","lineage":["https://openalex.org/I97429440"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"J. G. Horton","raw_affiliation_strings":["Department of Accounting, University of Wales, Aberystwyth"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Accounting, University of Wales, Aberystwyth","institution_ids":["https://openalex.org/I16038530","https://openalex.org/I97429440"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":2970,"currency":"USD","value_usd":2970},"apc_paid":null,"fwci":2.1967,"has_fulltext":false,"cited_by_count":31,"citation_normalized_percentile":{"value":0.90464896,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":96},"biblio":{"volume":"24","issue":"93","first_page":"19","last_page":"34"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.5791000127792358,"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"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.5791000127792358,"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/T10047","display_name":"Financial Markets and Investment Strategies","score":0.19629999995231628,"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/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.1843000054359436,"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/initial-public-offerings","display_name":"initial public offerings","score":0.9990000128746033},{"id":"https://openalex.org/keywords/ipo-underpricing","display_name":"IPO underpricing","score":0.6930000185966492},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.7490000128746033},{"id":"https://openalex.org/keywords/professional-advisers","display_name":"professional advisers","score":0.5950000286102295},{"id":"https://openalex.org/keywords/audit-firms","display_name":"public accounting firms","score":0.5080000162124634}],"concepts":[{"id":"https://openalex.org/C12559387","wikidata":"https://www.wikidata.org/wiki/Q185142","display_name":"Initial public offering","level":2,"score":0.9663363695144653},{"id":"https://openalex.org/C199521495","wikidata":"https://www.wikidata.org/wiki/Q181487","display_name":"Audit","level":2,"score":0.7495610117912292},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.7381637692451477},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.6610189080238342},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.6220524311065674},{"id":"https://openalex.org/C2779530757","wikidata":"https://www.wikidata.org/wiki/Q1207505","display_name":"Quality (philosophy)","level":2,"score":0.537788450717926},{"id":"https://openalex.org/C137577040","wikidata":"https://www.wikidata.org/wiki/Q431965","display_name":"Information asymmetry","level":2,"score":0.5237781405448914},{"id":"https://openalex.org/C2992701085","wikidata":"https://www.wikidata.org/wiki/Q3322597","display_name":"Security market","level":2,"score":0.49171024560928345},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2636745572090149},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1080/00014788.1993.9729461","doi":"https://doi.org/10.1080/00014788.1993.9729461","is_oa":false,"landing_page_url":"https://doi.org/10.1080/00014788.1993.9729461","pdf_url":null,"source":{"id":"https://openalex.org/S323237","display_name":"Accounting and Business Research","issn_l":"0001-4788","issn":["0001-4788","2159-4260"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Accounting and Business Research","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":37,"referenced_works":["https://openalex.org/W621700534","https://openalex.org/W1508725184","https://openalex.org/W1969632991","https://openalex.org/W1974034107","https://openalex.org/W1974411189","https://openalex.org/W1976545335","https://openalex.org/W1981566670","https://openalex.org/W1982545250","https://openalex.org/W1990317644","https://openalex.org/W2009291777","https://openalex.org/W2010332637","https://openalex.org/W2012623018","https://openalex.org/W2015497883","https://openalex.org/W2019712056","https://openalex.org/W2029607226","https://openalex.org/W2030121826","https://openalex.org/W2053570301","https://openalex.org/W2060806362","https://openalex.org/W2061266143","https://openalex.org/W2066777211","https://openalex.org/W2073086163","https://openalex.org/W2073488258","https://openalex.org/W2086481033","https://openalex.org/W2090707183","https://openalex.org/W2092949083","https://openalex.org/W2106805039","https://openalex.org/W2108818539","https://openalex.org/W2108889385","https://openalex.org/W2124092784","https://openalex.org/W2131036894","https://openalex.org/W2154127363","https://openalex.org/W2154585860","https://openalex.org/W2156109180","https://openalex.org/W2317462344","https://openalex.org/W4241830792","https://openalex.org/W4249012198","https://openalex.org/W4253936805"],"related_works":["https://openalex.org/W2012088284","https://openalex.org/W2030725323","https://openalex.org/W2953563015","https://openalex.org/W2280475388","https://openalex.org/W2559822159","https://openalex.org/W1882738734","https://openalex.org/W7008061440","https://openalex.org/W2050245474","https://openalex.org/W2759335500","https://openalex.org/W2103196134"],"abstract_inverted_index":{"This":[0],"paper":[1,99],"tests":[2],"two":[3,112],"hypotheses":[4],"developed":[5],"in":[6,106,116],"the":[7,20,31,34,59,64,67,92,107,122,127,130],"context":[8],"of":[9,33,46,61,66,83,124,129],"information":[10],"asymmetry":[11],"between":[12,110,121],"companies":[13],"making":[14],"initial":[15],"public":[16],"offerings":[17],"(IPO)":[18],"on":[19],"Unlisted":[21],"Securities":[22],"Market":[23],"and":[24,36,63,126],"potential":[25,42],"investors.":[26],"It":[27],"is":[28,95,119],"argued":[29],"that":[30,53,101],"status":[32,65,128],"sponsor":[35],"audit":[37],"firm":[38,70],"are":[39,71,78],"interpreted":[40],"by":[41],"investors":[43],"as":[44],"signals":[45],"an":[47],"IPO's":[48],"quality.":[49],"The":[50,98],"results":[51],"indicate":[52],"for":[54,88],"IPOs":[55,89],"made":[56,90],"during":[57,91],"1986\u201387":[58],"level":[60,123],"discount":[62,125],"associated":[68,79],"auditing":[69,76],"significantly":[72],"related.":[73],"Higher":[74],"quality":[75],"firms":[77],"with":[80],"lower":[81],"levels":[82],"discount.":[84],"A":[85],"similar":[86],"relationship":[87,115],"period":[93,118],"1988\u201389":[94],"not":[96],"detected.":[97],"suggests":[100],"there":[102],"were":[103],"significant":[104],"changes":[105],"IPO":[108],"market":[109],"these":[111],"periods.":[113],"No":[114],"either":[117],"detected":[120],"sponsor.":[131]},"counts_by_year":[{"year":2023,"cited_by_count":1},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":2},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":2},{"year":2012,"cited_by_count":1}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2016-06-24T00:00:00"}
