This paper analyzes the long-run performance of German IPOs of the years 1983-1993 compared with various benchmarks Indexes and matching firms; and for different subperiods with and without the inclusion of the underpricing effect. We briefly discuss theoretical positions, which predict a...

This paper analyzes the long-run performance of German IPOs of the years 1983 – 1993 compared with various benchmark-indexes and matching firms – and for different subperiods with and without the inclusion of the underpricing effect. We briefly discuss theoretical positions, which predict a...