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Abstract: Im Mittelpunkt des Werkes steht die Suche nach einer angemessenen Erklärung des Underpricing von Aktienerstemissionen. Eine ausführliche Analyse bestehender Modelle zeigt eine Vorherrschaft formaler Gleichgewichtskonzepte der neoklassischen Informationsökonomie. Keiner der aktuellen...
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One of the IPO-related anomalies that have been well-discussed in the finance literature is the IPO's long … the relative importance of these two explanations to the IPO's long-run underperformance. Our results show that although … both hot market and earnings management play a role in explaining IPO's long-run performance in their own rights, earnings …
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We analyze and compare the underpricing and buy-and-hold abnormal returns of depositary receipt equity offerings with preceding domestic seasoned equity offerings of the same firms to identify differences and motivations for cross-listings and domestic equity offerings free of any matching bias....
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market. At the same time, it would minimize a platforms screening costs and maximize its profits. …
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