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Firm value and cross listings : the impact of stock market prestige

Cetorelli, Nicola; Peristiani, Stavros C. - In: Journal of risk and financial management : JRFM 8 (2015) 1, pp. 150-180

This study investigates the valuation impact of a firm’s decision to cross list on a more (or less) prestigious stock … more prestigious market enjoy significant valuation gains over the five-year period following the listing. In contrast …, firms cross listing in less prestigious markets experience a significant valuation discount over this post-listing period …

Persistent link: https://www.econbiz.de/10011552966

Effects of IPO offer price ranges on initial subscription, initial turnover and ownership structure : evidence from Indian ipo market

Sandhu, Harsimran; Guhathakurta, Kousik - In: Journal of risk and financial management : JRFM 13 (2020) 11/279, pp. 1-19

In this paper, we establish the significance and effects of initial public offer (IPO) offer price ranges on … subscription, initial trading, and post-IPO ownership structures. The primary market in India provides a unique setting for … estimating the effect of various initial public offer (IPO) price ranges and IPO issue factors on the initial demand for an IPO …

Persistent link: https://www.econbiz.de/10012388745

Corporate green bond issuances : an international evidence

Lebelle, Martin; Lajili Jarjir, Souad; Sassi, Syrine - In: Journal of risk and financial management : JRFM 13 (2020) 2/25, pp. 1-21

Using an international sample of corporate Green bond issuances over the recent period, this paper highlights the potential consequences of the issuance of a Green bond on the issuer's financial performance. Starting with a first sample of 2079 Green bond issuances of 190 unique issuers from...

Persistent link: https://www.econbiz.de/10012173945

Secondary market liquidity and primary market pricing of corporate bonds

Goldstein, Michael A.; Hotchkiss, Edith; Pedersen, David J. - In: Journal of risk and financial management : JRFM 12 (2019) 2/86, pp. 1-17

This paper studies the link between secondary market liquidity for a corporate bond and the bond's yield spread at issuance. Using ex-ante measures of expected liquidity at the time of issuance, based on the characteristics of the underwriting syndicate, we find an economically large impact of...

Persistent link: https://www.econbiz.de/10012022090

Technical efficiency and port competition : revisiting the Bohai Economic Rim, China

Wang, Grace W. Y.; Gao, Chen - In: Journal of risk and financial management : JRFM 5 (2012) 1, pp. 115-130

The Bohai Economic Rim plays an important role in supporting China’s economic growth. For this research, we selected nine main ports in the region to study whether intra-port competition or corporatization would improve efficiency. Using a panel fixed effect model and stochastic frontier...

Persistent link: https://www.econbiz.de/10011555890

IPO's long-run performance : hot market versus earnings management

Lin, Tsai-Yin; Yu, Jerry; Lin, Chia-Yi - In: Journal of risk and financial management : JRFM 14 (2021) 3, pp. 1-16

One of the IPO-related anomalies that have been well-discussed in the finance literature is the IPO's long … the relative importance of these two explanations to the IPO's long-run underperformance. Our results show that although … both hot market and earnings management play a role in explaining IPO's long-run performance in their own rights, earnings …

Persistent link: https://www.econbiz.de/10012520058

The rich get richer and the poor get poorer : social media and the post-IPO behavior of investors in biotechnology firms : the relationship with twitter volume

Siev, Smadar - In: Journal of risk and financial management : JRFM 14 (2021) 10, pp. 1-17

This paper analyzes stock returns for biotechnology firms after initial public offering (IPO) and explores the effect … average abnormal returns (CAARs) of 1.97% in the first 25 days post-IPO and a decline of tens of percentage points over the … yield negative CAARs immediately following the IPO; however, this negative CAAR becomes significant only from day 50 onward …

Persistent link: https://www.econbiz.de/10012628769

Towards an optimal IPO mechanism

Huibers, Fred E. - In: Journal of risk and financial management : JRFM 13 (2020) 6/115, pp. 1-14

offering (IPO) market for the provision of entrepreneurial finance-book building-have led to research into the viability of … auctions for IPO pricing and allocation. IPO firms face a trade-off between the benefit of accurate and reliable IPO price … the IPO market through the application of recent advances in data science, experimental economics and artificial …

Persistent link: https://www.econbiz.de/10012305138

Does the impact of transparency and disclosure on the firm's valuation depend on the ESG?

Bhimavarapu, Venkata Mrudula; Rastogi, Shailesh; Gupte, … - In: Journal of risk and financial management : JRFM 15 (2022) 9, pp. 1-12

The global economic crisis in 1997 significantly impacted all corporate firms. Measuring valuation is becoming … disclosures on the valuation of non-financial firms in India and explore the role of Environmental, social and Governance (ESG) as … capitalization is considered as a proxy variable for the valuation. The study results indicate that transparency and disclosures (TD …

Persistent link: https://www.econbiz.de/10013401797

The influence of transparency and disclosure on the valuation of banks in India : the moderating effect of environmental, social, and governance variables, shareholder activism, an...

Bhimavarapu, Venkata Mrudula; Rastogi, Shailesh; … - In: Journal of risk and financial management : JRFM 15 (2022) 12, pp. 1-17

Research on the impact of transparency and disclosures (TD) on the firm's valuation presents an ambiguous result. The … current research. The study aims to empirically find the influence of TD on the valuation of banks in India while the … association of Transparency and Disclosure (TD) with the valuation of the banks in India. It is empirically found that TD alone …

Persistent link: https://www.econbiz.de/10014284131