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Initial Performance of Greek IPOs, Underwriter’s Reputation and Oversubscription
Kenourgios, Dimitris; Papathanasiou, Spyros; Melas, … - EconWPA - 2005
the underwriters’ prestige and the times of oversubscription significantly affect the underpricing level of the IPOs over …This paper provides additional international evidence on the IPOs by examining the initial performance and two main … determinants of short-run underpricing of 169 IPOs listed on the Athens Stock Exchange (ASE) over the period 1997-2002. The initial …
Persistent link: https://www.econbiz.de/10005561626
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Manipulated, Misled, Ignored, Abused: Residential Consumer Experience with Electric Deregulation in the United Kingdom
Jewell, Kevin - EconWPA - 2004
The United Kingdom began deregulating its electric market years before the U.S. Thus, the UK provides the best example of what can be expected in the deregulated residential retail electric market in the United States. . An extensive review of the evidence found: Questionable price savings:...
Persistent link: https://www.econbiz.de/10005076594
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Vertical Integration in Gasoline Supply: An Empirical Test of Raising Rivals' Costs
Gilbert, Richard; Hastings, Justine - EconWPA - 2002
This paper explores the relationship between the structure of the market for the refining and distribution of gasoline and the wholesale price of unbranded gasoline sold to independent gasoline retailers. Theoretically, the effect of an increase in vertical integration is ambiguous because...
Persistent link: https://www.econbiz.de/10005134483
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Maximum or Minimum Differentiation? An Empirical Investigation into the Location of Firms
Netz, Janet S.; Taylor, Beck A. - EconWPA - 1998
We empirically test some implications from location theory using the location of Los Angeles area gasoline stations in physical space and in the space of product attributes. We consider the effect of demand patterns, entry costs, and several proxies for competition -- the total number of...
Persistent link: https://www.econbiz.de/10005412965
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PATENTS, LICENSING, AND MARKET STRUCTURE IN THE CHEMICAL INDUSTRY
Arora, Ashish - EconWPA - 1996
The strategies of rent appropriation and market structure are inter- dependent. How firms use patents depends upon industry structure, and in turn, affects industry structure. In the early part of the history of the chemical industry, market leaders combined patents and secrecy to deter entry....
Persistent link: https://www.econbiz.de/10005561470
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Why Funds of Funds?
Lai, Richard Kum-yew - EconWPA - 2005
Private equity funds of funds (FOFs) have become big business. Today, FOFs form 14% of new money raised. I test six explanations for the rise of FOFs. First, I find that FOFs do not generally deliver superior returns. They do, however, do well enough for the limited partners (LPs) that hire...
Persistent link: https://www.econbiz.de/10005134791
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INNOVATION AND VENTURE CAPITAL EXITS
SCHWIENBACHER, Armin - EconWPA - 2001
This paper addresses the choice between different exit routes of venture capitalists for a project yielding a quality-improving product innovation. We explicitly introduce product market characteristics into the analysis with the aim to identify their effects on the optimal exit strategy and on...
Persistent link: https://www.econbiz.de/10005413189
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Does Competition Kill Ties?
Lai, Richard Kum-yew - EconWPA - 2005
Venture capital firms (VCs) form syndicates that compete to invest in deals. Does more competition makes it less likely that VCs will choose syndicate partners based on past ties? Using over 200,000 observations on how VCs choose each other in 572 biotech deals in Massachussetts from 1967...
Persistent link: https://www.econbiz.de/10005118861
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What drives Venture Capital Syndication
Hopp, Christian; Rieder, Finn - EconWPA - 2004
This paper analyses the syndication behavior of VC organisations and the factors influencing their overall propensity to co-invest. We develop hypothesis concerning the investment behavior of Venture Capitalists in the German market and compare these hypothesis to the actual empirical evidence...
Persistent link: https://www.econbiz.de/10005561752
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Profit maximisation and alternatives in oligopolies
Klemm, Alexander - EconWPA - 2004
This paper analyses oligopolies using the Cournot/Stackelberg framework, but allowing some firms to be pursueing aims other than profit maximisation. The existence of even a single output maximising firm can have dramatic effects on outputs, prices and welfare, even if such a firms faces...
Persistent link: https://www.econbiz.de/10005134543