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Article: IPOs and product quality

TitleIPOs and product quality
Authors
Stoughton, NMWong, KPZechner, J
KeywordsBusiness and economics
Issue Date2001
PublisherUniversity of Chicago Press. The Journal's web site is located at http://www.journals.uchicago.edu/JB
Citation
Journal Of Business, 2001, v. 74 n. 3, p. 375-408 How to Cite?
DOI: http://dx.doi.org/10.1086/321931
AbstractGiven recent public attention paid to high-flying Internet IPOs such as Yahoo and Amazon.com, we explore a product market motive for going public. We develop a model where consumers discern product quality from the stock price. The model predicts that only better-quality firms will go public. Effects of IPO announcements on rival firms' stock prices are related to inferences about market size and market share. The model also predicts that the likelihood of "hot issue" markets depends on the distribution of market size uncertainty and the degree of network externalities present in consumer preferences.
Persistent Identifierhttp://hdl.handle.net/10722/43535
ISSN
0021-9398
ISI Accession Number ID
WOS:000170224900002
References
References in Scopus

 

DC FieldValueLanguage
dc.contributor.authorStoughton, NMen_HK
dc.contributor.authorWong, KPen_HK
dc.contributor.authorZechner, Jen_HK
dc.date.accessioned2007-03-23T04:48:14Z-
dc.date.available2007-03-23T04:48:14Z-
dc.date.issued2001en_HK
dc.identifier.citationJournal Of Business, 2001, v. 74 n. 3, p. 375-408en_HK
dc.identifier.issn0021-9398en_HK
dc.identifier.urihttp://hdl.handle.net/10722/43535-
dc.description.abstractGiven recent public attention paid to high-flying Internet IPOs such as Yahoo and Amazon.com, we explore a product market motive for going public. We develop a model where consumers discern product quality from the stock price. The model predicts that only better-quality firms will go public. Effects of IPO announcements on rival firms' stock prices are related to inferences about market size and market share. The model also predicts that the likelihood of "hot issue" markets depends on the distribution of market size uncertainty and the degree of network externalities present in consumer preferences.en_HK
dc.format.extent168196 bytes-
dc.format.extent25088 bytes-
dc.format.mimetypeapplication/pdf-
dc.format.mimetypeapplication/msword-
dc.languageengen_HK
dc.publisherUniversity of Chicago Press. The Journal's web site is located at http://www.journals.uchicago.edu/JBen_HK
dc.relation.ispartofJournal of Businessen_HK
dc.rightsThe Journal of Business (Chicago). Copyright © University of Chicago Press.en_HK
dc.subjectBusiness and economicsen_HK
dc.titleIPOs and product qualityen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0021-9398&volume=74&spage=375&epage=408&date=2001&atitle=IPOs+and+Product+Qualityen_HK
dc.identifier.emailWong, KP: kpwongc@hkucc.hku.hken_HK
dc.identifier.authorityWong, KP=rp01112en_HK
dc.description.naturepublished_or_final_versionen_HK
dc.identifier.doi10.1086/321931en_HK
dc.identifier.scopuseid_2-s2.0-0041077361en_HK
dc.identifier.hkuros71428-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0041077361&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume74en_HK
dc.identifier.issue3en_HK
dc.identifier.spage375en_HK
dc.identifier.epage408en_HK
dc.identifier.isiWOS:000170224900002-
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridStoughton, NM=6602557245en_HK
dc.identifier.scopusauthoridWong, KP=7404759417en_HK
dc.identifier.scopusauthoridZechner, J=6603324668en_HK
dc.identifier.issnl0021-9398-

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