{"id":"https://openalex.org/W3122818088","doi":"https://doi.org/10.1016/j.jcorpfin.2012.01.007","title":"What drives the valuation premium in IPOs versus acquisitions? An empirical analysis","display_name":"What drives the valuation premium in IPOs versus acquisitions? An empirical analysis","publication_year":2012,"publication_date":"2012-02-10","ids":{"openalex":"https://openalex.org/W3122818088","doi":"https://doi.org/10.1016/j.jcorpfin.2012.01.007","mag":"3122818088"},"language":"en","primary_location":{"id":"doi:10.1016/j.jcorpfin.2012.01.007","doi":"https://doi.org/10.1016/j.jcorpfin.2012.01.007","is_oa":false,"landing_page_url":"https://doi.org/10.1016/j.jcorpfin.2012.01.007","pdf_url":null,"source":{"id":"https://openalex.org/S152282257","display_name":"Journal of Corporate Finance","issn_l":"0929-1199","issn":["0929-1199","1872-6313"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1","jufo-3","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Corporate Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.1494058","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5077159634","display_name":"Onur Bayar","orcid":"https://orcid.org/0000-0001-8847-5956","observed_orcids":["https://orcid.org/0000-0001-8847-5956"]},"institutions":[{"id":"https://openalex.org/I45438204","display_name":"The University of Texas at San Antonio","ror":"https://ror.org/01kd65564","country_code":"US","type":"education","lineage":["https://openalex.org/I45438204"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Onur Bayar","raw_affiliation_strings":["University of Texas at San Antonio, College of Business, San Antonio, TX 78249, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Texas at San Antonio, College of Business, San Antonio, TX 78249, USA","institution_ids":["https://openalex.org/I45438204"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5067777931","display_name":"Thomas J. Chemmanur","orcid":"https://orcid.org/0000-0003-3302-8977","observed_orcids":["https://orcid.org/0000-0003-3302-8977"]},"institutions":[{"id":"https://openalex.org/I103531236","display_name":"Boston College","ror":"https://ror.org/02n2fzt79","country_code":"US","type":"education","lineage":["https://openalex.org/I103531236"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Thomas J. Chemmanur","raw_affiliation_strings":["Boston College, Carroll School of Management, Chestnut Hill, MA 02467, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Boston College, Carroll School of Management, Chestnut Hill, MA 02467, USA","institution_ids":["https://openalex.org/I103531236"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5067777931"],"corresponding_institution_ids":["https://openalex.org/I103531236"],"apc_list":{"value":4140,"currency":"USD","value_usd":4140},"apc_paid":null,"fwci":27.237,"has_fulltext":false,"cited_by_count":93,"citation_normalized_percentile":{"value":0.9933168,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":94,"max":99},"biblio":{"volume":"18","issue":"3","first_page":"451","last_page":"475"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.6220999956130981,"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":0.6220999956130981,"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/T11903","display_name":"Private Equity and Venture Capital","score":0.3644999861717224,"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":0.006800000090152025,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/initial-public-offerings","display_name":"initial public offerings","score":0.8870000243186951},{"id":"https://openalex.org/keywords/mergers-and-acquisitions","display_name":"mergers and acquisitions","score":0.8730000257492065},{"id":"https://openalex.org/keywords/venture-capital","display_name":"venture capital","score":0.4749999940395355},{"id":"https://openalex.org/keywords/private-benefits-of-control","display_name":"private benefits of control","score":0.8420000076293945},{"id":"https://openalex.org/keywords/industry-competition","display_name":"industry competition","score":0.3779999911785126},{"id":"https://openalex.org/keywords/capital-intensity","display_name":"capital intensity","score":0.8220000267028809},{"id":"https://openalex.org/keywords/sales-growth","display_name":"sales growth","score":0.8370000123977661},{"id":"https://openalex.org/keywords/firm-size","display_name":"firm size","score":0.49399998784065247},{"id":"https://openalex.org/keywords/ipo-underpricing","display_name":"IPO underpricing","score":0.4320000112056732}],"concepts":[{"id":"https://openalex.org/C12559387","wikidata":"https://www.wikidata.org/wiki/Q185142","display_name":"Initial public offering","level":2,"score":0.9480724334716797},{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.7616382241249084},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6005027294158936},{"id":"https://openalex.org/C23032112","wikidata":"https://www.wikidata.org/wiki/Q1344727","display_name":"Enterprise value","level":2,"score":0.5901256203651428},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5078902840614319},{"id":"https://openalex.org/C2777429365","wikidata":"https://www.wikidata.org/wiki/Q7246184","display_name":"Private benefits of control","level":4,"score":0.5026962757110596},{"id":"https://openalex.org/C2780933327","wikidata":"https://www.wikidata.org/wiki/Q7912697","display_name":"Valuation effects","level":3,"score":0.46753165125846863},{"id":"https://openalex.org/C202552767","wikidata":"https://www.wikidata.org/wiki/Q1901350","display_name":"Market value","level":2,"score":0.4248512089252472},{"id":"https://openalex.org/C21279758","wikidata":"https://www.wikidata.org/wiki/Q219409","display_name":"Venture capital","level":2,"score":0.41872477531433105},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3676885962486267},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.254946231842041},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.23120445013046265},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.0890980064868927}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1016/j.jcorpfin.2012.01.007","doi":"https://doi.org/10.1016/j.jcorpfin.2012.01.007","is_oa":false,"landing_page_url":"https://doi.org/10.1016/j.jcorpfin.2012.01.007","pdf_url":null,"source":{"id":"https://openalex.org/S152282257","display_name":"Journal of Corporate Finance","issn_l":"0929-1199","issn":["0929-1199","1872-6313"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1","jufo-3","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Corporate Finance","raw_type":"journal-article"},{"id":"doi:10.2139/ssrn.1494058","doi":"https://doi.org/10.2139/ssrn.1494058","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.1494058","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":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},{"id":"pmh:oai:RePEc:eee:corfin:v:18:y:2012:i:3:p:451-475","doi":null,"is_oa":false,"landing_page_url":"http://www.sciencedirect.com/science/article/pii/S0929119912000090","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":"doi:10.2139/ssrn.1494058","doi":"https://doi.org/10.2139/ssrn.1494058","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.1494058","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":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/9","score":0.4699999988079071,"display_name":"Industry, innovation and infrastructure"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":44,"referenced_works":["https://openalex.org/W1508480535","https://openalex.org/W1761838888","https://openalex.org/W1972551475","https://openalex.org/W1984576706","https://openalex.org/W1998596297","https://openalex.org/W2034306329","https://openalex.org/W2039534482","https://openalex.org/W2053426470","https://openalex.org/W2059052126","https://openalex.org/W2074485686","https://openalex.org/W2083354336","https://openalex.org/W2084768353","https://openalex.org/W2098910318","https://openalex.org/W2101171995","https://openalex.org/W2111465968","https://openalex.org/W2122984589","https://openalex.org/W2136000353","https://openalex.org/W2139122730","https://openalex.org/W2140734893","https://openalex.org/W2148198877","https://openalex.org/W2150291618","https://openalex.org/W2154127363","https://openalex.org/W2891753394","https://openalex.org/W3022413197","https://openalex.org/W3121427576","https://openalex.org/W3121987829","https://openalex.org/W3122213201","https://openalex.org/W3122649674","https://openalex.org/W3122948292","https://openalex.org/W3122980858","https://openalex.org/W3123188200","https://openalex.org/W3123318070","https://openalex.org/W3123557008","https://openalex.org/W3123605165","https://openalex.org/W3123644546","https://openalex.org/W3123820039","https://openalex.org/W3123974754","https://openalex.org/W3124209013","https://openalex.org/W3124787240","https://openalex.org/W4241708427","https://openalex.org/W4293020912","https://openalex.org/W6675408526","https://openalex.org/W6680375792","https://openalex.org/W6688877314"],"related_works":["https://openalex.org/W58487117","https://openalex.org/W2140734893","https://openalex.org/W162479010","https://openalex.org/W1761838888","https://openalex.org/W3122649674","https://openalex.org/W247965604","https://openalex.org/W2012756878","https://openalex.org/W10264267","https://openalex.org/W2279561034","https://openalex.org/W2244180033"],"abstract_inverted_index":null,"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":11},{"year":2023,"cited_by_count":5},{"year":2022,"cited_by_count":7},{"year":2021,"cited_by_count":7},{"year":2020,"cited_by_count":7},{"year":2019,"cited_by_count":7},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":10},{"year":2016,"cited_by_count":7},{"year":2015,"cited_by_count":10},{"year":2014,"cited_by_count":7},{"year":2013,"cited_by_count":3},{"year":2012,"cited_by_count":2}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2021-02-01T00:00:00"}
