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Is the Abnormal Post-IPO Underperformance Really Abnormal? The Evidence from CEE Emerging Markets

Zaremba, Adam - 2014

No, it is not. Using sorting, cross-sectional tests, regression, and tests of a monotonic relation, we investigate the long-run post-IPO performance and its sources in the Central and Eastern European (CEE) markets. We examine over 1100 stocks from 11 CEE countries for the period 2002-2014....

Persistent link: https://www.econbiz.de/10013048355

Strategies on Initial Public Offering of Company Equity at Stock Exchanges in Imperfect Highly Volatile Global Capital Markets with Induced Nonlinearities

Ledenyov, Dimitri - 2015

This research considers the strategies on the initial public offering of company equity at the stock exchanges in the imperfect highly volatile global capital markets with the nonlinearities. We provide the IPO definition and compare the initial listing requirements on the various markets. We...

Persistent link: https://www.econbiz.de/10013026463

Explanatory power of pre-issue financial strength for long-term market performance : evidence from initial equity offerings on an emerging market

Czapiewski, Leszek; Lizińska, Joanna - In: International Journal of Financial Studies : open … 7 (2019) 1/16, pp. 1-16

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

Does ERM sophistication drive IPO initial performance in emerging market? : evidence from Malaysian market

Norliza Che Yahya; Siti Sarah Alyasa-Gan; Rasidah … - In: ACRN journal of finance and risk perspectives 11 (2022), pp. 141-157

The escalation of complexity and multidimensional (internal and external) factors bring companies to a position where risk management should be of main concern. Enterprise Risk Management (ERM) adoption and the extent of ERM implementation is seen as a guaranteeing element to increase the value...

Persistent link: https://www.econbiz.de/10014235058

IPO Activity and Market Volatility

Dicle, Mehmet F. - 2017

We hypothesize two channels in which market volatility affects initial public offering (IPO) activity. First, CEOs time … the market for IPOs and volatility makes this decision process harder. Second, risk-averse IPO investors become more … reluctant towards IPOs during periods of higher volatility for their after-IPO returns. We provide evidence that higher market …

Persistent link: https://www.econbiz.de/10012946947

IPO First-Day Returns, Offer Price Revisions, Volatility, and Form S-1 Language

Loughran, Tim - 2013

subsequent volatility. Our findings provide empirical evidence for the theoretical models of uncertainty, bookbuilding, and …

Persistent link: https://www.econbiz.de/10013090468

Is the success of an issuer an investor success? : evidence from Polish IPOs

Brycz, Bogumila; Dudycz, Tadeusz; Kowalski, Michal J. - In: Baltic journal of economics 17 (2017) 1, pp. 57-77

This article examines the factors that determine IPO success in raising equity capital, and how this success translates into investor success. The study is based on a sample of IPOs on the Warsaw Stock Exchange from 1998 to 2011. We find that pre-IPO profitability is a strong and positive signal...

Persistent link: https://www.econbiz.de/10011890952

The Influence of Lock-Up Provisions on IPO Initial Returns : Evidence from an Emerging Market

Mohd Rashid, Rasidah - 2015

A lock-up agreement ensures that major shareholders retain significant economic interest in the companies following the IPOs. Rationally, these insiders will not adhere to the lock-up agreement unless the benefits of doing so can more than offset the costs. Therefore, in an environment...

Persistent link: https://www.econbiz.de/10013012963

IPO initial returns and volatility : a study in an emerging market

Leong, Mike Siew Wei; Sundarasen, Sheela - In: The international journal of business and finance … 9 (2015) 3, pp. 71-82

Persistent link: https://www.econbiz.de/10011285424

Investor Relations and IPO Performance

Chahine, Salim; Colak, Gonul; Hasan, Iftekhar; … - 2019

We analyze the value of investor relations (IR) strategies to IPO firms. We find that firms that are less visible and have inexperienced management tend to hire IR consultants prior to the issue date. IR consultants help create positive news coverage before an IPO event as reflected in a more...

Persistent link: https://www.econbiz.de/10014105219