Narrow search
Showing 1 - 10 of 19,811
Cover Image
Signaling by underpricing the initial public offerings of primary listings in an emerging market
Čornanič, Aleš; Novák, Jiri - 2013
The signaling hypothesis suggests that firms have incentives to underprice their initial public offerings (IPOs) to signal their quality to the outside investors and to issue seasoned equity (SEO) at more favorable terms. While the initial empirical evidence on the signaling hypothesis was weak,...
Persistent link: https://www.econbiz.de/10009775653
Cover Image
The Information Advantage of Underwriters in IPOs
Chiang, Yao-Min - 2019
Using a unique dataset of dealer-level trading data in bookbuilding IPOs, we find strong evidence that lead underwriter trades in IPO firms are significantly related to subsequent IPO abnormal returns. This relation is concentrated among issues in which underwriters' information advantage is...
Persistent link: https://www.econbiz.de/10012904976
Cover Image
Investing in Security Price Informativeness : The Role of IPO Underpricing
Brown, David C. - 2016
underpricing strengthens these incentives, resulting in a more informative post-IPO price and higher firm value. Firms' desires for … more informative post-IPO pricing lead to new rationales for IPO underpricing and the intermediating role of underwriters …
Persistent link: https://www.econbiz.de/10013007039
Cover Image
The impact of mandatory K-IFRS adoption on IPO underpricing
Lee, Hyun Duk; Oh, Frederick Dongchuhl; Park, Junghum - In: International journal of finance & economics : IJFE 27 (2022) 1, pp. 1101-1119
Persistent link: https://www.econbiz.de/10012814985
Cover Image
How much do VCS and underwriters matter? : a comparative investigation of venture capitalist and underwriter effects on IPO underpricing
Fitza, Markus; Dean, Thomas J. - In: Venture capital : an international journal of … 18 (2016) 2, pp. 95-114
Persistent link: https://www.econbiz.de/10011610505
Cover Image
Do regulatory changes affect the underpricing of European IPOs?
Akyol, Ali C.; Cooper, Tommy; Meoli, Michele; Vismara, … - In: Journal of Banking & Finance 45 (2014) C, pp. 43-58
codes by Member States of the European Union (EU) have affected IPO underpricing on Member State-regulated markets, where … underpricing declined on Member State-regulated markets after Member States adopted corporate governance codes containing SOX …-like provisions. We do not find a similar reduction in IPO underpricing on exchange-regulated markets. Our results are robust to …
Persistent link: https://www.econbiz.de/10010943181
Cover Image
Outside Insiders : Does Access to Information Prior to an IPO Generate a Trading Advantage After the IPO?
Ozmel, Umit - 2016
We investigate whether access to information prior to an IPO generates a trading advantage after the IPO. We find that limited partners (LPs) of venture capital funds obtain high returns when they invest in newly listed stocks backed by their funds. These returns are not explained by LPs'...
Persistent link: https://www.econbiz.de/10013005321
Cover Image
Dividend policy and information asymmetry from the signaling perspective
Zare, Reza; Moradi, Javad; Valipour, Hashem - 2013
This study attempts to examine the relevance of dividend policy and information asymmetry from the Signaling Perspective and compare the relative information content of them. Based on sampling, 88 firms from Tehran Stock Exchange (TSE) were selected and examined during 2003 to 2010. The findings...
Persistent link: https://www.econbiz.de/10009755612
Cover Image
The informational advantage of foreign investors : an empirical study of the Swedish bond market
Säfvenblad, Patrik - 1999
This paper uses a unique dataset on daily capital ows to the Swedish bond market to analyse the relative information endowment of domestic and foreign investors. Using the standard framework of a noisy rational expectations equilibrium, it is concluded that foreign investors are on average...
Persistent link: https://www.econbiz.de/10011585563
Cover Image
The impacts of state ownership on information asymmetry : evidence from an emerging market
Choe, Chong-mu; Sami, Heibatollah; Zhou, Haiyan - In: China journal of accounting research : CJAR 3 (2010), pp. 13-50
This study examines the effect of corporate ownership on information asymmetry as measured by bid-ask spread in the emerging markets of China. Government ownership has significant and positive impacts on bid-ask spread during the period 1995–2000, but disappears afterward during 2001–2003....
Persistent link: https://www.econbiz.de/10011823458