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Do Regulatory Changes Affect the Underpricing of European IPOs?
Akyol, Ali C. - 2015
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/10013021649
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Determinants of IPO Activity : Does IPO Activity Fluctuate in Accordance with the Business Cycle? Evidence from European Firms
Genovevo da Costa, Marcio - 2016
The literature on corporate financing is quite extensive. However, researchers have so far not shed light on the IPO determining factors in Europe as a whole. This paper addresses three main questions observing more than 9000 IPOs performed during a period from 1991 to 2014. First, the...
Persistent link: https://www.econbiz.de/10012979565
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Underpricing on the selected European Alternative Investment Markets
Hadro, Dominika; Pauka, Marek - In: E-Finanse : finansowy kwartalnik internetowy 15 (2019) 2, pp. 87-94
The phenomenon of underpricing is the subject of many studies on the stock markets, but there is still a research gap … and such an anomaly as underpricing could be a barrier for development of young companies. It means so-called money left … regulations on the European Alternative Investment Markets are correlated with the higher value of underpricing as the …
Persistent link: https://www.econbiz.de/10012104408
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Financing entrepreneurial firms in Europe : facts, issues, and research agenda
Bottazzi, Laura; Da Rin, Marco - 2003
During the latter part of the 1990s the introduction of the euro, the dramatic increase in the supply of venture capital in most EU countries, and the creation of several new equity markets targeted at innovative firms have dramatically transformed the financing prospects of European...
Persistent link: https://www.econbiz.de/10011507965
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Do regulatory changes affect the underpricing of European IPOs?
Akyol, Ali C.; Cooper, Tommy; Meoli, Michele; Vismara, … - In: Journal of banking & finance 45 (2014), pp. 43-58
Persistent link: https://www.econbiz.de/10010466681
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Innovation in newly public firms : the influence of government grants, venture capital, and private equity
Shinkle, George A.; Suchard, Jo-Ann - In: Australian journal of management 44 (2019) 2, pp. 248-281
Persistent link: https://www.econbiz.de/10011999648
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Price discovery, causality and volatility spillovers in European Union allowances phase II : a high frequency analysis
Rittler, Daniel - 2009
This paper deals with the modeling of the relationship of European Union Allowance spot- and futures-prices within the second commitment period of the European Union Emission Trading Scheme. Based on high frequency data, we analyze causality in the first and the second conditional moments. To...
Persistent link: https://www.econbiz.de/10003902551
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Price formation and liquidity provision in short-term fixed income markets
D'Souza, Chris (contributor); Lo, Ingrid (contributor);  … - 2007
Differences in market structures may affect the manner in which fundamental information is incorporated into prices. High levels of quote and trade transparency plus substantial quoting obligations in European government securities markets ensure that prices are informationally efficient. The...
Persistent link: https://www.econbiz.de/10003462952
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Trade-throughs in European cross-traded equities after transaction costs : empirical evidence for the EURO STOXX 50
Ende, Bartholomäus; Lutat, Marco - 2010
The new regulatory environment triggered by MiFID has resulted in a transformed competitive landscape and increased fragmentation among execution venues in Europe. One key component of MiFID is best execution, i.e. investment firms are obliged to achieve the best result for customer orders on a...
Persistent link: https://www.econbiz.de/10008698015
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Cointegration in the foreign exchange market and market efficiency since the introduction of the euro : evidence based on bivariate cointegration analyses
Kühl, Michael (contributor) - 2007
The aim of this paper is to investigate the market efficiency on the foreign exchange market since the introduction of the Euro by applying the cointegration analysis to exchange rates. The introduction of the Euro has changed the structure of the global foreign exchange market to the extent...
Persistent link: https://www.econbiz.de/10003582754