The paper analyzes the risk disclosure quality in the prospectus of IPOs in Germany between 2006 and 2008. Quality of risk information is measured as precision and comprehensibility. The relationship between risk disclosure quality and earnings power is tested.

This study examined how intangible assets of Japanese biotechnology startups affected their intention to go public at one point and their actual initial public offering. Simple patent counts did not affect startups’ intention to go public in 2005. Among several indicators of patent quality,...

Nach dem Vorbild börsennotierter britischer Vereine wird es auch deutschen Profifußballvereinen in absehbarer Zukunft möglich sein, sich in Aktiengesellschaften umzuwandeln. Der anschließende Börsengang soll dann den nach den jüngsten Entwicklungen im Profifußballbereich gestiegenen...

Las empresas deciden hacerse públicas por diversas razones, entre ellas podemos mencionar temas de liqui- dez, obtención de financiamiento y la disminución del costo de capital. Una vez que fue valuada la empresa y que el intermediario financiero fijó un precio para las acciones, las...

Contrary to findings reported in the extant IPO literature between 2001 and 2006, average first-day returns in Israel's stock market resulted in a deficit return of -1.2% and the average one-year return resulted in an excess return of 10.5%. Estimating the relationship between yields and various...

Initial Public Offering (IPO) can be an expensive investment for the company, but under current conditions compared to bank loans it is the main source of replenishment of equity. The main purpose of an IPO is to obtain the so-called 'constituent profits' - profits derived by the founders of the...

The application of simultaneous equation regressions on a sample of 110 FrenchIPO firms between 2005-2010, allowed us to say that the initial return issignificantly influenced by the under / overpricing. The results of our studyshow that the underpricing can improve the initial return. On the...

The study investigates the price behavior after initial public offerings (IPOs) listed on the Warsaw Stock Exchange from 2004 to 2009. It focuses on possible explanations for the IPO phenomenon within the context of Poland and provides evidence on the relation between both the company size and...

The aim of this paper is to characterise the newly listed companies between 2002-2010 by analysing economic, financial and market criteria of the West Africa Stock Exchange. This study captures for the first time going public decision in a framework whereby how market authorities, listed...

This paper analyzes a comprehensive data set of 160 non venture-backed, 79 venture-backed and 61 bridge financed companies going public at Germany's Neuer Markt between March 1997 and March 2002. I examine whether these three types of issues differ with regard to issuer characteristics, balance...