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Privatization and stock market liquidity
Bortolotti, Bernardo; Jong, Frank de; Nicodano, Giovanna; … - 2002
Share issue privatization - i.e. privatization on public equity markets - is often claimed to foster stock market development. In this paper, we provide an empirical assessment of this claim, testing the role of privatization on two market liquidity measures in a panel with monthly data of 19...
Persistent link: https://www.econbiz.de/10011598239
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Pricing initial public offerings in premature capital markets : the case of Hungary
Schindele, Ibolya; Perotti, Enrico C. - 2002
This paper investigates the determinants of underpricing at initial public offerings in theHungarian Initial Public … discount at privatization IPOs than at private issues, and a positive relation between underpricing and the proportion of … that the transition related determinants of underpricing disappear as the securities market becomes more mature. …
Persistent link: https://www.econbiz.de/10011598328
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Learning about unprecedented events: agent-based modelling and the stock market impact of COVID-19
Bazzana, Davide; Colturato, Michele; Savona, Roberto - 2021
We model the learning process of market traders during the unprecedented COVID-19 event. We introduce a behavioral heterogeneous agents' model with bounded rationality by including a correction mechanism through representativeness (Gennaioli et al., 2015). To inspect the market crash induced by...
Persistent link: https://www.econbiz.de/10012654147
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The nontradable share reform in the Chinese stock market
Beltratti, Andrea (contributor);  … - 2006
Persistent link: https://www.econbiz.de/10003605672
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Corporate environmental information disclosure and investor response : empirical evidence from China's capital market
Meng, Jia; Zhang, ZhongXiang - 2022
This paper aims at analyzing the impact of corporate environmental information disclosure from the perspective of investors. To that end, we have collected environmental information disclosure data of all Chinese listed companies from 2004 to 2020 and controlled the impacts of annual reports on...
Persistent link: https://www.econbiz.de/10012814558
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Privatization and financial market development : theoretical issues
Chiesa, Gabriella; Nicodano, Giovanna - 2003
Stock market capitalization in developed countries grew while massive privatization plans were in progress. It is however possible that stock market development would have occurred anyway. Below we identify features that are specific to share-issue privatizations (SIPs) and should a priori...
Persistent link: https://www.econbiz.de/10011589394
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The abnormal returns of UK privatisations : from underpricing to outperformance
Florio, Massimo; Manzoni, Katiuscia - 2002
This paper offers a review and discussion of the evidence concerning the underpricing and long run performance of … that underpricing was not followed by underperformance, as is usually observed with IPOs, but rather strong outperformance …
Persistent link: https://www.econbiz.de/10011597836
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Do multiple credit ratings reduce money left on the table? : evidence from U.S. IPOs
Goergen, Marc; Gounopoulos, Dimitrios; Koutroumpis, … - 2019 - This Draft: March 2019
effect of credit ratings on IPO underpricing, which is amplified by the existence of multiple credit ratings. Multiple …
Persistent link: https://www.econbiz.de/10011979253
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Liquidity events and returns of EIF-backed VC investments
Prencipe, Dario - 2017
Despite the sometimes intensive media coverage and exuberant storytelling around the industry, venture capital (VC) investors tend to operate in highly opaque markets. On this premise, this work contributes to the literature via a hand-collected dataset of about 3,600 EIF-backed VC investments...
Persistent link: https://www.econbiz.de/10011863286
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Global oil market and the US stock returns
Ahmad, Maryam; Manera, Matteo; Sadeghzadeh, Mehdi - 2015
This paper provides an analysis of the link between the oil market and the U.S. stock market returns at the aggregate as well as industry levels. We empirically model oil price changes as driven by speculative demand shocks along with consumption demand and supply shocks in the oil market. We...
Persistent link: https://www.econbiz.de/10011391816