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Earnings Management and the Floatation Structure: Empirical Evidence from Polish IPOs
Sosnowski, Tomasz - 2017
events. The IPO provides an opportunity to earnings management because of the significant information asymmetry between … earnings management and the portions of primary and secondary shares sold in IPO. In order to investigate whether the earnings … find evidence that the increase of pre-IPO discretionary accruals positively affects the sale of primary shares in the IPO …
Persistent link: https://www.econbiz.de/10012232608
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The rich get richer and the poor get poorer: Social media and the post-IPO behavior of investors in biotechnology firms. The relationship with Twitter volume
Siev, Smadar - In: Journal of Risk and Financial Management 14 (2021) 10, pp. 1-17
This paper analyzes stock returns for biotechnology firms after initial public offering (IPO) and explores the effect … average abnormal returns (CAARs) of 1.97% in the first 25 days post-IPO and a decline of tens of percentage points over the … yield negative CAARs immediately following the IPO; however, this negative CAAR becomes significant only from day 50 onward …
Persistent link: https://www.econbiz.de/10013201140
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Underpricing on the selected European Alternative Investment Markets
Hadro, Dominika; Pauka, Marek - In: e-Finanse: Financial Internet Quarterly 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 referring to the European Alternative Investment Markets, markets for small and medium companies. They are a source of capital and such an anomaly as underpricing could be a...
Persistent link: https://www.econbiz.de/10013466216
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Call me when you grow up: Firms' age, size, and IPO performance across sectors
Siev, Smadar; Qadan, Mahmoud - In: Journal of Risk and Financial Management 15 (2022) 12, pp. 1-22
We provide a fresh look at the performance of the stock prices of firms that launched an IPO between 2009 and 2019 and …
Persistent link: https://www.econbiz.de/10014332742
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Pre-IPO financial performance and offer price estimation: Evidence from India
Yadav, Ajay; Prosad, Jaya Mamta - In: Journal of Risk and Financial Management 16 (2023) 2, pp. 1-19
Performance Indicators and IPO Offer Prices. It seeks to assist Indian IPO investors to make more informed decisions by advancing … their knowledge about relevant Pre-IPO Financial Performance Indicators that are effective predictors of Offer Price. The … framework to demonstrate that an IPO Offer Price can be assessed by its Pre-IPO Financial Performance. The findings of this …
Persistent link: https://www.econbiz.de/10014332881
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The rich get richer and the poor get poorer : social media and the post-IPO behavior of investors in biotechnology firms : the relationship with twitter volume
Siev, Smadar - In: Journal of risk and financial management : JRFM 14 (2021) 10, pp. 1-17
This paper analyzes stock returns for biotechnology firms after initial public offering (IPO) and explores the effect … average abnormal returns (CAARs) of 1.97% in the first 25 days post-IPO and a decline of tens of percentage points over the … yield negative CAARs immediately following the IPO; however, this negative CAAR becomes significant only from day 50 onward …
Persistent link: https://www.econbiz.de/10012628769
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Do private firms benefit from trading in the private securities market?
Loveland, Robert; Fricke, Eric; Goktan, Sinan - In: Journal of entrepreneurial finance : JEF ; official … 19 (2017) 2, pp. 1-30
, private security exchanges. This paper uses data on IPO firms that list on the SharesPost private securities exchange platform … to examine the potential benefits of a listing. Specifically, we test whether a listing reduces IPO underpricing or … enables liquidity provision to firm employees. Controlling for endogeneity, we find no evidence that a pre-IPO listing on …
Persistent link: https://www.econbiz.de/10011991364
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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 referring to the European Alternative Investment Markets, markets for small and medium companies. They are a source of capital and such an anomaly as underpricing could be a...
Persistent link: https://www.econbiz.de/10012104408
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Why do companies delist voluntarily from the stock market?
Kashefi Pour, Eilnaz; Lasfer, Meziane - 2013 - This version: January 2013
We analyse the motives and market valuation of various forms of stock market delisting. We show that firms that delist voluntarily are likely to have come to the market to rebalance their leverage rather than to finance their growth opportunities. During their public life, their leverage...
Persistent link: https://www.econbiz.de/10012011742
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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 … pre-IPO profitability is a strong and positive signal for investors that translates into a higher offer price and … therefore determines the success of the issuance. However, companies with high IPO success do not provide investors with better …
Persistent link: https://www.econbiz.de/10011890952