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Are IPOs of different VCs different?
Tykvová, Tereza; Walz, Uwe - 2004
This paper aims to analyze the impact of different types of venture capitalists on the performance of their portfolio firms around and after the IPO. We thereby investigate the hypothesis that different governance structures, objectives and track record of different types of VCs have a...
Persistent link: https://www.econbiz.de/10010298255
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Performance of Initial Public Offerings : The Evidence for Switzerland
Drobetz, Wolfgang; Kammermann, Matthias; Wälchli, Urs - Wirtschaftswissenschaftliches Zentrum <Basel>
We examine the underpricing and long-term performance of a broad set ofSwiss IPOs from 1983 to 2000. The average market … extent, the market cyclicality hypothesis aspossible explanations for the underpricing phenomenon on the Swiss IPOmarket. We …
Persistent link: https://www.econbiz.de/10005863001
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Who knows what when? The Information content of pre-IPO market prices
Löffler, Gunter; Panther, Patrick F.; Theissen, Erik - 2002
To resolve the IPO underpricing puzzle it is essential to analyze who knows what when during the issuing process. In … midpoint of the bookbuilding range and the offer price. The pre-issue prices explain a large part of the underpricing left … underpricing suggests. …
Persistent link: https://www.econbiz.de/10010316258
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Are IPOs of different VCs different?
Tykvová, Tereza; Walz, Uwe - Center for Financial Studies - 2004
This paper aims to analyze the impact of different types of venture capitalists on the performance of their portfolio firms around and after the IPO. We thereby investigate the hypothesis that different governance structures, objectives and track record of different types of VCs have a...
Persistent link: https://www.econbiz.de/10010986446
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Initial Public Offerings and the Firm Location
Baschieri, Giulia - 2017
underpricing cross-sectional average and volatility, and less pronounced long-run under-performance. Similar but opposite evidence …
Persistent link: https://www.econbiz.de/10012960756
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Credit Rating Impact on Earnings Management Around Initial Public Offerings
Gounopoulos, Dimitrios - 2016
This study examines the impact of having a credit rating on earnings management (EM) through accruals and real activities manipulation by initial public offering (IPO) firms. We find that firms going public with a credit rating are less likely to engage in income-enhancing accrual-based and real...
Persistent link: https://www.econbiz.de/10013002866
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Strategies on Initial Public Offering of Company Equity at Stock Exchanges in Imperfect Highly Volatile Global Capital Markets with Induced Nonlinearities
Ledenyov, Dimitri - 2015
-building. We focus on the IPO initial underpricing, long-run performance and after market liquidity problems. 1. We propose that …-determinant for the successful IPO deal completion. We propose the Ledenyov theory on the origins of the IPO underpricing and long … term underperformance effects, which states that the IPO underpricing and long term underperformance can be explained by …
Persistent link: https://www.econbiz.de/10013026463
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The Effect of the Trading System on IPO Underpricing : Evidence from the 1997 Order-Handling Rules
Ligon, James A. - 2009
underpricing. We find that the increase in liquidity that the OHR represent led to a decrease in underpricing for cold IPOs … suggesting that the expected cost of underwriter price support is a factor in the level of IPO underpricing for cold IPOs, at …
Persistent link: https://www.econbiz.de/10013158153
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Are IPOs of Different VCs Different?
Tykvová, Tereza; Walz, Uwe - 2004
This paper sets out to analyze the influence of different types of venture capitalists on the performance of their portfolio firms around and after IPO. We investigate the hypothesis that different governance structures, objectives, and track records of different types of VCs have a significant...
Persistent link: https://www.econbiz.de/10010297354
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An option to cheat : an application of option theory to realize flipping in underpricing
Stojkovic, Jovan - 2013
underpricing in IPOs through the use of a structural approach mode. The outcome is a proxy value that replicates investors …' flipping behavior. When tested empirically, the model predicts that on average 25% of underpricing exists to protect long …
Persistent link: https://www.econbiz.de/10010258983