Download or read book Essays on initial public offerings and stock market rumors written by Jos van Bommel and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Initial Public Offerings written by Laura Bernadette Field and published by . This book was released on 1997 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on Initial Public Offerings and Market Information written by William C. Johnson and published by . This book was released on 2006 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Initial Public Offerings and Real Estate Investment Trusts written by Sandra F. Holsonback and published by . This book was released on 2003 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Initial Public Offerings (IPOs) are financial vehicles whereby firms can raise capital through public markets. These vehicles increased in importance in the 1990's when financial institutions were reluctant to lend money, especially to young or unestablished firms. Private real estate companies, hampered by these tight credit markets, formed Real Estate Investment Trusts (REITs), a public entity. REIT IPOs trade on the same markets and are subject to the same SEC regulations as equity stocks, but the lack luster behavior of their initial stock offerings is opposite to large initial day returns exhibited by equity stocks. In proposing that underpricing is a strategy utilized by the firm and the underwriter, this study, comparing IPOs of four industries: retail, manufacturer of communication equipment, software development, and REITs, validates the theory of asymmetric information, whereby investors are compensated for risk through underpricing.
Download or read book Essays on Initial Public Offerings Empirical Findings from the Helsinki Stock Exchange written by Joakim Westerholm and published by . This book was released on 2000 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Initial Public Offerings written by Ambrus Kecskés and published by . This book was released on 2008 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this thesis, I study three aspects of going public. First, I examine whether separating the decision to list on a stock exchange and the decision to issue equity decreases the underpricing costs of going public. Next, I examine the extent to which economic fundamentals versus investor sentiment drive the equity issuance activity of firms going public. Finally, I examine whether the quantity of financing raised by firms going public is associated with firm value, and, if so, why this is the case.
Download or read book Initial Public Offerings Findings and Theories written by Seth Anderson and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: Initial public offerings (IPOs) play a crucial role in allocating resources in market economies. Because of the enormous importance of IPOs, an understanding of how IPOs work is fundamental to an understanding of financial markets generally. Of particular interest is the puzzling existence of high initial returns to equity IPOs in the United States and other free-market economies. Audience: Designed for use by anyone wishing to perform further academic research in the area of IPOs and by those practitioners interested in IPOs as investment vehicles.
Download or read book Initial Public Offering IPO and theories of underpricing written by Henning Padberg and published by GRIN Verlag. This book was released on 2007-11-30 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2006 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,3, University of Glasgow (Department of Accounting and Finance), course: Financial Markets, language: English, abstract: Related to the issuance of shares there are different kinds of “puzzles” which motivate to take a closer look at: Short-run ‘underpricing’, hot and cold issue markets, spread clustering and longrun underperformance. Even though these phenomena are frequently discussed in several scientific papers and journals, there is no conclusively completed theory. This work will concentrate on the various approaches developed to explain ‘underpricing’. As an introduction into the topic it will also provide a summary of the process of an Initial Public Offering (IPO).
Download or read book Essays in Initial Public Offerings written by Arik Ben-Dor and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation I examine the behavior of sophisticated investors in new equity issues.
Download or read book Essays on Initial Public Offerings written by Hugh Monte Joseph Colaco and published by . This book was released on 2006 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the second essay, it is argued that the time following an amendment in which demand is revealed has a cost. So, why do some firms take longer than others to go public following the amendment? It is hypothesized that the delay to the offer results from overestimation of demand and risk. As a result, underpricing predicted at the amendment is not indicative of the final level of underpricing. The firm and its investors bear the costs of the delay. This study highlights the distinction between partial and full information and the costs associated with SEC requirements.
Download or read book Pricing and Performance of Initial Public Offerings in the United States written by Arvin Ghosh and published by Routledge. This book was released on 2017-07-05 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this timely volume on newly emerging financial mar- kets and investment strategies, Arvin Ghosh explores the intriguing topic of initial public offerings (IPOs) of securities, among the most significant phenomena in the United States stock markets in recent years. Before the 2000-2001 market turndown, hardly a week went by when more than a few companies did not become public, either in the organized stock exchange or in the Over the Counter (OTC) market. In the often over-burdened, technology-heavy Nasdaq market, the role of IPOs was crucial for the market's new vigor and growth. Internet stocks were able to find a mode to supply key momentum to the market. In the so-called "New Economy" of the 1990s, it was the seductively accessible IPO that ushered in the world's information technology revolution.Ghosh sets out to examine the pricing and financial performance of IPOs in the United States during the period 1990-2001. In the opening chapter he discusses the rise and fall of IPOs in the preceding decade. Chapter 2 further delineates the IPO process from the start of the prospectus to the end of the "quiet period" and aftermarket stabilization. In chapter 3 Ghosh analyzes the mispricing and deliberately deceptive underpricing, or "flipping," of Internet IPOs. Chapter 4 delves deeper into the pricing and operating efficiency of Nasdaq IPOs. Chapter 5 analyzes the pricing and long-run performance of IPOs both in the New York Stock Exchange and in the Nasdaq markets. In chapters 6 and 7 the author deals with the pricing and performance of the venture-blocked and nonventure-backed IPOs in general and Internet IPOs in particular. In chapter 8 he analyzes the role of underwriters as market makers. In chapter 9 Ghosh discusses the accuracy of analysts' earnings forecasts. In the concluding chapter, he summarizes the principal findings of the study and the recent revival of the IPO market and its place in capital formation as well as the latest developments in t
Download or read book Two Essays on the First Trading Day Returns of Initial Public Offerings written by Michael O'connor Keefe and published by . This book was released on 2010 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Initial Public Offerings An inside view written by Rolf J. Daxhammer and published by UVK Verlag. This book was released on 2017-11-13 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a corporations financial life going public by means of an IPO is probably the single most important decision. It turns a private company into a public one. Our book will provide an inside view of the IPO process. On the one hand, it draws on the insights of an experienced investment banker, who has gone through numerous IPO transactions. On the other hand, it relates the story of an actual IPO through the eyes of a Chief Executive Officer who has taken two of his companies public. This unique double perspective is our books defining feature. We do not discuss initial public offerings in a textbook style fashion. What we would like to bring out is a more comprehensive portrayal of a once-in-a-lifetime event for most companies and their management, alike.
Download or read book The Analysis of Effects of Initial Public Offering on the Warsaw Stock Exchange written by Katarzyna Kopczewska and published by GRIN Verlag. This book was released on 2006-03-29 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (postgraduate) from the year 2003 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: advanced, Warsaw University (Faculty of Economic Sciences), language: English, abstract: European integration will have a real influence on the shape of the financial market in Poland and in other former socialistic countries which undergone the transformation. To stop the tendency of weakening of Polish stock exchange it is important to recognize mechanisms influencing the decisions of companies about the public sale of shares. Decision of companies about the entry on the stock exchange is driven with the expectation that it will help them in the realization of the particular goals. There are many primary reasons for issuing shares, among other to gain the capital on investments, to acquire prestige, to increase sale etc. In Poland till now the entry on the stock exchange of some companies was a method of the privatization, however this process extinguishes. Going public companies will be owned by private businessmen. Hence, very important is to recognize the original mechanisms of initial public offering (IPO). The analysis of IPO effects, enforced with the use of panel models points, that thanks to funds from going public the company realize investment projects and use resources in compliance with declared destination, i.e. on investments, and not on the debts repayment. Public companies do not change their previous capital structure, the debts after the entry on the stock exchange grow to the level from before IPO. Listing on the stock exchange raises the size of the company, but lowers the rate of its growth and decreases the profitability. Findings from research confirm hypotheses that companies go public from the opportunistic motives and then by the way they realize investment programmes.
Download or read book Asymmetric Information Relating to Initial Public Offering Underpricing written by Fotini Mastroianni and published by . This book was released on 2017-05-29 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2012 in the subject Economics - Finance, language: English, abstract: The main reason why companies decide to proceed with IPO is mainly to gain access to new funding. The proceeds from the share issue itself are not necessarily intended for direct expansion. The prospects for growth from acquisitions, the funds available for organizational expansion and refinancing of current borrowings have shown, among other things, to be the main motives that newly listed companies consider as very important. The general initial public offering procedure enhances the image and publicity of enterprises and gets not only an initial certification of the professionals in the financial markets but also a long-term price bidding (price signal) to suppliers, workforce and customers. According to Roell (1996), a robust equity value in the subsequent acquisition (during the trading of securities after their initial bid for public offering) reassures suppliers that they can safely grant trade credit, employees are convinced that they can expect a fairly stable job, and customers think that the products of the company will be supported as a result of their purchase (in the aftermath of their purchase).
Download or read book Empirical Essays on Initial Public Offerings written by Annika Reiff and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Gross Spreads in Initial Public Offerings written by Sami Torstila and published by . This book was released on 2000 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
