Financial analysts are viewed as playing an important intermediary role in gathering and interpreting information and passing it onto the investment community. However, in recent years, it has become more apparent that the analysts come under much internal and external pressure when making their...

Cycles in initial public offer (IPO) underpricing have been historically linked to both the proportion and pricing of resource-based IPOs issued relative to the entire population of IPOs. In addition, IPOs in the less diversified resource sector are exposed to changes in underlying commodity...

Despite the general acceptance of the role of corporate governance, empirical research has remained inconclusive regarding the extent to which individual monitoring mechanisms enhance firm performance and shareholder value. In particular, most previous studies have not convincingly overcome two...

We investigate abnormal returns resulting from the announcement of a rights issue of equity in Australia and are the first study outside the U.S and the U.K to examine the pricing of rights issues and the determinants of that pricing. Rights issues are met with a significantly negative abnormal...

This study documents a significant positive announcement effect for a unique capital raising tool, stand alone warrants, in the Australian market. The result is consistent with the models of Schultz (1993) and Mayers (1998) where a warrant is viewed positively by the market. The results of the...

This paper is the first to introduce an analysis of the effect of different types of venture capitalist value-added activities (financial, administrative, marketing strategic/management) on fundraising. In addition, we include an analysis of the functional difference between committed funds and...

This study explores the role of venture capitalists on investee boards at the time of listing for 552 initial public offerings. Australian board structures/mechanisms are more similar to those in the U.S/U.K but market activity characteristics are more similar to Japanese/German systems....

We examine the initial and long run performance and the determinants of underpricing of privatization IPOs in Australia and the United Kingdom. We include additional traditional variables from the privately owned IPO literature not used in other privatization studies and introduce three new...