Results 161 to 170 of about 9,379 (192)
Some of the next articles are maybe not open access.
Related searches:
Related searches:
Trademark and IPO underpricing
Financial Management, 2021AbstractAlthough trademarks are mentioned in many firms’ initial public offering (IPO) prospectuses, their influences on the IPO valuation process are underexplored. This paper studies the relationship between a firm's pre‐IPO trademarks and its IPO underpricing. Using 4457 US IPOs during the period 1980–2018, we find that firms with a larger number of
Bin Yang, Tao Yuan
openaire +1 more source
Applied Financial Economics, 2004
This article analyses the first-day return of 182 IPOs listed on the Italian Stock Exchange from 1985 to 2001. It finds a significantly mean positive underpricing (21.87%). Contrary to the evidence detected in the USA by Loughran and Ritter and Ljungqvist and Wilhelm, it highlights that on the main board of the Italian Exchange IPO underpricing ...
CASSIA, Lucio +3 more
openaire +2 more sources
This article analyses the first-day return of 182 IPOs listed on the Italian Stock Exchange from 1985 to 2001. It finds a significantly mean positive underpricing (21.87%). Contrary to the evidence detected in the USA by Loughran and Ritter and Ljungqvist and Wilhelm, it highlights that on the main board of the Italian Exchange IPO underpricing ...
CASSIA, Lucio +3 more
openaire +2 more sources
Nankai Business Review International, 2014
Purpose – The purpose of this paper is to model the Chinese unique regulation changes with the supply-and-demand analytical framework and structure the relationship between initial public offerings (IPO) underpricing and institutional changes with the comparative static method.
Wei Zhang, Lihui Tian
openaire +1 more source
Purpose – The purpose of this paper is to model the Chinese unique regulation changes with the supply-and-demand analytical framework and structure the relationship between initial public offerings (IPO) underpricing and institutional changes with the comparative static method.
Wei Zhang, Lihui Tian
openaire +1 more source
Governance reform and IPO underpricing
Journal of Corporate Finance, 2012Abstract Underpricing of IPOs in Thailand significantly drops following the country's major governance reform, indicating less price-protection by investors. The lower price-protection is associated with fewer instances of absolute control retention by pre-issue insiders during the post-reform period, not reduction in the expropriation risk.
Manapol Ekkayokkaya, Tulaya Pengniti
openaire +1 more source
IPO Underpricing and Outside Blockholdings
SSRN Electronic Journal, 2003Abstract Recent papers have proposed a link between underpricing of an initial public offering (IPO) and the resulting ownership structure of the firm. Brennan and Franks [J. Financ. Econ. 45 (1997) 391] hypothesize that IPO managers want to discourage new blockholdings to reduce the likelihood of being monitored.
Laura Casares Field, Dennis P. Sheehan
openaire +1 more source
Conservatism and international IPO underpricing
Journal of International Business Studies, 2015We study the impact of country-level accounting conservatism on international IPO underpricing. Examining 13,285 IPOs from 36 countries, we find that IPOs are underpriced less in countries in which existing public firms practice more accounting conservatism.
Thomas Jason Boulton +2 more
openaire +1 more source
Unionization and IPO Underpricing
SSRN Electronic Journal, 2018This paper investigates the impact of labor unionization on IPO underpricing. We demonstrate that the existence of unions reduces underpricing by 11.20%. Unionized IPOs are associated with downward offer-price revisions, higher cost of capital, inferior firm-operating performance, and incremental failure risk.
Antonios Chantziaras +2 more
openaire +1 more source
Review of Financial Studies, 2004
While IPOs have been underpriced by more than 10% during the past two decades, we find that in a sample of more than 2,000 IPOs from 1980 to 1997, the median IPO was significantly overvalued at the offer price relative to valuations based on industry peer price multiples. This overvaluation ranges from 14% to 50% depending on the peer matching criteria.
Amiyatosh K. Purnanandam +1 more
openaire +1 more source
While IPOs have been underpriced by more than 10% during the past two decades, we find that in a sample of more than 2,000 IPOs from 1980 to 1997, the median IPO was significantly overvalued at the offer price relative to valuations based on industry peer price multiples. This overvaluation ranges from 14% to 50% depending on the peer matching criteria.
Amiyatosh K. Purnanandam +1 more
openaire +1 more source
Journal of Corporate Finance, 2019
Abstract This study examines the impact of trust on initial public offering (IPO) underpricing using a large sample of IPO firms in China. We find that firms in regions of high social trust have lower underpricing, consistent with the notion that IPO firms in low-trust regions have to offer greater underpricing to secure participation. This result is
Xiaorong Li, Steven Shuye Wang, Xue Wang
openaire +1 more source
Abstract This study examines the impact of trust on initial public offering (IPO) underpricing using a large sample of IPO firms in China. We find that firms in regions of high social trust have lower underpricing, consistent with the notion that IPO firms in low-trust regions have to offer greater underpricing to secure participation. This result is
Xiaorong Li, Steven Shuye Wang, Xue Wang
openaire +1 more source