Purpose -The objective of this study is to investigate the long-run performance of initial public offerings (IPOs) in Germany for the period from 1977 to 1995. The paper studies why some IPO firms have substantial positive and others have substantial negative long-run buy-and-hold abnormal...

Purpose – The objective of this study is to investigate the long‐run performance of initial public offerings (IPOs) in Germany for the period from 1977 to 1995. The paper studies why some IPO firms have substantial positive and others have substantial negative long‐run buy‐and‐hold...

Reviews the literature on the term structure of interest rates. Suggests that low German inflation might lead to idiosyncratic interest rate behaviour in Germany. Tests German government securities’ interest rates from 1981 to 1994 for cointegration, using unit root tests, for a range of...