Abnormal returns of thrift versus non-thrift IPOs
This paper examines the issue of underpricing for converting thrift institutions. Evidence has found this underpricing to be pervasive in the mutual-to-stock thrift conversion process. The issue is of importance given the debate over whether any windfall gains should accrue to depositors, managers, or taxpayers. An event study is conducted to determine if there is a significant difference between the initial returns of thrift and non-thrift IPOs. Our overall results indicate that a significant difference does exist. Copyright Springer 1999
Year of publication: |
1999
|
---|---|
Authors: | Barth, James ; Page, Daniel ; Jahera, John |
Published in: |
Journal of Economics and Finance. - Springer, ISSN 1055-0925. - Vol. 23.1999, 1, p. 15-22
|
Publisher: |
Springer |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Cross-border bank mergers and acquisitions : what factors pull and push banks together?
Lin, Dongyun, (2013)
-
US enacts sweeping financial reform legislation
Barth, James, (2010)
-
Cross-Border Bank Mergers and Acquisitions: What Factors Pull and Push Banks Together?
Lin, Dongyun, (2013)
- More ...