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the information absorption by the investors occurs in the evolving learning process about the company's value, taking to … information absorption capacity by the investors on the IPOs impacts the investor's investment decisions and serves as a pre … the changing information absorption capacity by the investors on the IPO value. 3. We think that the IPO winning virtuous …
Persistent link: https://www.econbiz.de/10013026463
The efficient-market hypothesis (EMH) is one of the most important economic and financial hypotheses that have been tested over the past century. Due to many abnormal phenomena and conflicting evidence, otherwise known as anomalies against EMH, some academics have questioned whether EMH is...
Persistent link: https://www.econbiz.de/10012237439
, information discovery by investors is slow and the mispricing is corrected mostly through mandatory disclosures by firms. Using …
Persistent link: https://www.econbiz.de/10012897391
value and growth stocks) and forecasts of real GDP growth produced by professional economists. This finding appears to be …
Persistent link: https://www.econbiz.de/10012917125
This study examines the return behavior of 15 emerging equity markets for persistent deviations from the fundamental value hypothesis. The duration dependence test shows that rational expectations bubble do not cause deviations from fundamental value in any of the markets. Markov chain test...
Persistent link: https://www.econbiz.de/10014210456
This paper examines whether the aggregate investments in corporate equity in the U.S. yield lowering per-unit return for the period 1950-2009. We measure the per-unit return on aggregate equity investment as the ratio of the annual aggregate value of after-tax corporate profit of nonfinancial...
Persistent link: https://www.econbiz.de/10013097713
The paper examines the returns to shareholders of acquiring companies in India during the period 2003-08. The abnormal returns due to the announcement of mergers and acquisitions (M&A) and return on equity funds five years before and after M&A have been examined. The study also performs a...
Persistent link: https://www.econbiz.de/10013099698
Persistent link: https://www.econbiz.de/10013069529
This paper investigates the incremental information content of earnings and other macroeconomic variables for share … periods were included. The results suggest that prices anticipate earnings and hence provide useful information to KSE …
Persistent link: https://www.econbiz.de/10013004322
This study tests possible sources of long-term risk-adjusted returns on initial public offerings (IPO) in Poland under the calendar-time portfolio (CTP) approach. The moment of going public still remains a puzzle in many areas. Poland’s status as an emerging market has been indisputable for...
Persistent link: https://www.econbiz.de/10012038537