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What determines the success of an IPO? : analysis of IPO underpricing on the Warsaw stock exchange

Małachowski, Paweł; Gadowska-dos Santos, Dominika - In: Central European economic journal 8 (2021) 55, pp. 1-14

This article aimed to analyse the factors that influence the level of underpricing of an initial public offering (IPO) on the Warsaw Stock Exchange (WSE), based on the example of 101 companies debuting on the main market between 2010 and 2019. We discuss the theories that explain IPO...

Persistent link: https://www.econbiz.de/10012435564

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

The Impacts of Regulation Regime Changes on Chinext Ipos Effects of 2013 and 2020 Reforms on Initial Return, Fair Value and Overreaction

Deng, Qi; Dai, Lunge; Yang, Zixin; Zhou, Zhong-Guo; … - 2023

The Chinese version of NASDAQ, ChiNext has gone through three time periods with two different regulation regimes (approval and registration) and three sets of listing day trading restrictions (trading curbs, hard return caps, and no restrictions). We hypothesize that the initial return contains...

Persistent link: https://www.econbiz.de/10014257197

The Amount of Excess Cash Holdings and Their Influence on Abnormal Returns in IPO's in Tehran Stock Exchange

Moslemi, Mostafa - 2015

This study investigates the extent of surplus cash holdings and their influence on abnormal returns in initial public offerings of stock in Tehran Stock Exchange. The 101 companies during the period 2003 to 2012 were selected. Selective approach to testing hypotheses, examining cross-sectional...

Persistent link: https://www.econbiz.de/10013028947

Asset Pricing Anomalies and the State Ownership Effect in China's Domestic Stock Market

Zhang, Henry - 2017

In China, a large proportion of companies are state owned, and this factor is a likely important driver of assets prices. In this paper, a State-Owned Enterprise (SOE) benchmark/factor is constructed along with the market factor and common benchmarks used in the literature to explain returns –...

Persistent link: https://www.econbiz.de/10012953152

Privatizacion y ofertas publicas de venta en Espana: costes indirectos y directos de la privatizacion

Queralt, Germa Manel Bel - Facultat d'Economia i Empresa, Universitat de Barcelona - 1997

This research is developed within the general framework of the study on privatization costs. Analysing the costs … basis of our results, we can evaluate the financial efficiency of the privatization through PO's in Spain, and suggest …

Persistent link: https://www.econbiz.de/10005176416

Can Governments Signal Commitment in Privatization Sales?

Viani, Bruno E. - 2008

The literature on staggered privatization sales suggests that governments can effectively signal commitment to not … expropriate the future rents of privatized firms. The privatization of telephone firms around the world provides an excellent … opportunity to test this theory. Using a sample of repeated privatization sales I test whether governments can effectively signal …

Persistent link: https://www.econbiz.de/10012724458

Debacle of Privatizing State Owned Companies in Malawi - Case Study of Malawi Savings Bank Limited

Kampanje, Brian Phiri - 2015

voices heard making it difficult to reach a compromise. This is exacerbated when privatization exercise involves state … parties, employees and some religious groups.This study has observed that arguments advanced by opposers of the privatization … justifications for privatization as well as chronology of any pertinent events leading to the decision for privatization …

Persistent link: https://www.econbiz.de/10013033165

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

The profitability of following analyst recommendations on the Polish stock market

Zaremba, Adam; Konieczka, Przemysław - In: E-Finanse : finansowy kwartalnik internetowy 11 (2015) 1, pp. 22-31

The profitability of analysts' recommendations is documented in numerous studies from all over the world. However, the evidence from the Polish market is relatively modest. The primary aim of this study is to fill this gap. The paper contributes to the economic literature in four ways. First, it...

Persistent link: https://www.econbiz.de/10011393259