This paper examines the excess bond return in a sample of IPO announcements from 1983-2007 for firms with publicly trade debt. The main finding is that IPO announcements create a positive abnormal bond return. This finding is not driven by reverse LBOs, venture backing, spinoffs or by a...

This thesis carries out an empirical research of the Nigerian stock market using known finance theories for further insight into how this market event occurs. The study aims at establishing if initial public offer underpricing exists in the Nigerian market and how these IPOs perform when it goes...

We employ a sample of 748 environmentally-friendly (or “green”) firms listed on U.S. stock exchanges to extend studies of the effects of socially responsible investment (SRI) on stock investment returns and the performance of initial public offerings (IPOs) and seasoned equity offerings...

Explores the relationship between the short-term and long-term returns of initial public offerings (IPOs) and the reputation of the underwriters associated with the IPOs. Previous work in this area has shown that use of reputable underwriters for the IPO leads to less short-run underpricing....

The literature suggests that underwriters perform significant marketing functions in securities offerings. We argue that underwriter’s efforts related to marketing can be estimated by the abnormal component of IPO underwriting spread. This is feasible using a large sample of Chinese IPOs,...