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The performance of state-owned enterprises and newly privatized firms : empirical evidence from Egypt

Omran, Mohammed Fawzy - 2002

witness any significant improvement in their performance, which questions the benefits of privatization in Egypt. …Even though it is well documented that privatization leads to an improvement in the performance of state … because it does not consider the performance of control firms of similar pre-privatization situations, i.e. the performance of …

Persistent link: https://www.econbiz.de/10011597814

Excessive IPO pricing, the government issuer and the floatation time game

Tian, Lihui (contributor) - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001730392

Privatization and stock market liquidity

Bortolotti, Bernardo; Jong, Frank de; Nicodano, Giovanna; … - 2002

Share issue privatization - i.e. privatization on public equity markets - is often claimed to foster stock market … development. In this paper, we provide an empirical assessment of this claim, testing the role of privatization on two market … liquidity measures in a panel with monthly data of 19 developed economies. Privatization is shown to be key in improving …

Persistent link: https://www.econbiz.de/10011598239

The abnormal returns of UK privatisations : from underpricing to outperformance

Florio, Massimo; Manzoni, Katiuscia - 2002

This paper offers a review and discussion of the evidence concerning the underpricing and long run performance of British PIPOs (Privatisation Initial Public Offerings) between 1977-1996, i.e. from the first privatisation under a Labour Government (British Petroleum), until the last ones by a...

Persistent link: https://www.econbiz.de/10011597836

Reverse mergers, shell value, and regulation risk in Chinese equity markets

Lee, Charles M. C.; Qu, Yuanyu; Shen, Tao - 2017

Using a comprehensive sample of reverse merger (RM) transactions, we examine the effects of China's IPO regulations on the prices and returns of its publicly listed stocks. During 2007-2015, unlisted Chinese firms paid an average of 3 to 4 Billion RMB for each listed shell, an amount exceeding...

Persistent link: https://www.econbiz.de/10011873081

Corporate transactions in hard-to-value stocks

Ben-David, Itzhak; Kim, Byungwook; Moussawi, Hala; … - 2021

Hard-to-value stocks provide opportunities for managers to exploit their informational advantage through trading on their firms' and their own personal accounts. In contrast to the prediction that such transactions reflect private information about future events, they are contrarian and heavily...

Persistent link: https://www.econbiz.de/10012816430

Short selling and the subsequent performance of initial public offerings

Seistrajkova, Biljana - 2017

This paper examines short sales transaction volumes on the first trading day of 610 initial public offerings (IPOs) from 2011 to 2015. The tests provide evidence of informed trading immediately at the IPO. Results reveal that short selling volume on the first trading day of the IPO is...

Persistent link: https://www.econbiz.de/10011874714

Global oil market and the US stock returns

Ahmad, Maryam; Manera, Matteo; Sadeghzadeh, Mehdi - 2015

This paper provides an analysis of the link between the oil market and the U.S. stock market returns at the aggregate as well as industry levels. We empirically model oil price changes as driven by speculative demand shocks along with consumption demand and supply shocks in the oil market. We...

Persistent link: https://www.econbiz.de/10011391816

Persistence in ESG and conventional stock market indices

Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; … - 2021

This paper uses R/S analysis and fractional integration techniques to examine the persistence of two sets of 12 ESG and conventional stock price indices from the MSCI database over the period 2007-2020 for a large number of both developed and emerging markets. Both sets of results imply that...

Persistent link: https://www.econbiz.de/10012520863

Abnormal returns and stock price movements : some evidence from developed and emerging markets

Caporale, Guglielmo Maria; Plastun, Alex - 2020

This paper investigates the impact of abnormal returns on stock prices by using daily and hourly data for some developed (US, UK, Japan) and emerging (China, India) markets over the period 01.01.2010-01.01.2020. Average analysis, t-tests, CAR and trading simulation methods are used to test the...

Persistent link: https://www.econbiz.de/10012390869

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