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Signaling by underpricing the initial public offerings of primary listings in an emerging market
Čornanič, Aleš; Novák, Jiri - 2013
The signaling hypothesis suggests that firms have incentives to underprice their initial public offerings (IPOs) to signal their quality to the outside investors and to issue seasoned equity (SEO) at more favorable terms. While the initial empirical evidence on the signaling hypothesis was weak,...
Persistent link: https://www.econbiz.de/10009775653
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Signaling by Underpricing the Initial Public Offerings of Primary Listings in an Emerging Market
Cornanic, Ales; Novak, Jiri - Institut ekonomických studií, Univerzita Karlova v Praze - 2013
The signaling hypothesis suggests that firms have incentives to underprice their initial public offerings (IPOs) to signal their quality to the outside investors and to issue seasoned equity (SEO) at more favorable terms. While the initial empirical evidence on the signaling hypothesis was weak,...
Persistent link: https://www.econbiz.de/10010686527
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Signaling by underpricing the initial public offerings of primary listings in an emerging market
Čornanič, Aleš; Novák, Jiří - 2013
The signaling hypothesis suggests that firms have incentives to underprice their initial public offerings (IPOs) to signal their quality to the outside investors and to issue seasoned equity (SEO) at more favorable terms. While the initial empirical evidence on the signaling hypothesis was weak,...
Persistent link: https://www.econbiz.de/10010322308
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Comparative Analysis of Underpricing and Subscription of SME IPOs and Main Board IPOs in India
Sharma, Sudesh Kumar - 2020
price discovery using underpricing analysis. The study is based on sample of 1110 IPOs which comprises 526 SME IPOs and 584 … analysis suggests that SME IPOs are more efficient in terms of underpricing. Further, the demand levels in case of SMEIPOs are …
Persistent link: https://www.econbiz.de/10012840304
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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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Underpricing in Graded IPOs
Sharma, Sudesh Kumar - 2014
negative effect on underpricing …
Persistent link: https://www.econbiz.de/10013057757
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Learning and signalling in the French and German venture capital industries
Stolpe, Michael - 2003
This paper analyses the efficiency of venture capital and its impact on primary equity markets in France and Germany. It shows that venture capital operates according to the signalling model in France and according to the learning model in Germany. Only the learning model can serve as a...
Persistent link: https://www.econbiz.de/10010265598
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Europe's Entry into the Venture Capital Business: Efficiency and Policy
Stolpe, Michael - Institut für Weltwirtschaft (IfW) - 2004
This paper provides new evidence on Europe's experience with venture capital in the 1990s. Individual countries' activity is not solely determined by country characteristics and a purely domestic history, but also by a common European experience: the interdependence of valuations in primary...
Persistent link: https://www.econbiz.de/10005755118
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Learning and Signalling in the French and German Venture Capital Industries
Stolpe, Michael - Institut für Weltwirtschaft (IfW) - 2003
This paper analyses the efficiency of venture capital and its impact on primary equity markets in France and Germany. It shows that venture capital operates according to the signalling model in France and according to the learning model in Germany. Only the learning model can serve as a...
Persistent link: https://www.econbiz.de/10005700526
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Bad News Bankers : Underwriter Reputation and Contagion in Pre-1914 Sovereign Debt Markets
Indarte, Sasha - 2019
contagion via shared financial intermediaries. Concerns over reputation incentivized Britain's merchant banks to monitor, advise …
Persistent link: https://www.econbiz.de/10012902171