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Performance differences between IPOs in new industries and IPOs in established industries
Ang, James; Boyer, Carol - In: Managerial Finance 35 (2009), pp. 606-623
Purpose -The purpose of this paper is to provide a unique approach to examining issues related to initial public offerings (IPOs). Design/methodology/approach -The price behavior of IPOs in new industries is analyzed relative to IPOs in established industries. Findings -The results show that...
Persistent link: https://www.econbiz.de/10010761735
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Relation between distress risk, book-to-market ratio and return premium
Zaretzky, Kaylene; Zumwalt, J. Kenton - In: Managerial Finance 33 (2007), pp. 788-797
returns. This paper aims to examine the robustness of those's results and provide further evidence that high distress …-risk firms do not enjoy the same high returns earned by high B/M firms and that distress risk is unlikely to explain the Fama and … positive returns. Research limitations/implications - The findings suggest that exposure to distress risk does not earns …
Persistent link: https://www.econbiz.de/10010755935
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Relation between distress risk, book‐to‐market ratio and return premium
Zaretzky, Kaylene; Kenton Zumwalt, J. - In: Managerial Finance 33 (2007) 10, pp. 788-797
returns. This paper aims to examine the robustness of those's results and provide further evidence that high distress …‐risk firms do not enjoy the same high returns earned by high B/M firms and that distress risk is unlikely to explain the Fama and … positive returns. Research limitations/implications – The findings suggest that exposure to distress risk does not earns …
Persistent link: https://www.econbiz.de/10014939951
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The views of UK family business owners on flotation
Poutziouris, Panikkos; Wang, Yong - 2004
This empirical research paper draws evidence from a database of UK independent private companies (n=250) and reports on the financial aspirations of owner-managers of family firms with respect to the flotation route. Following a brief review of the literature, the paper proceeds with an...
Persistent link: https://www.econbiz.de/10009458983
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Country risk and valuation of US-listed foreign IPOs
Wu, Congsheng - In: Managerial Finance 38 (2012) October, pp. 939-957
Purpose – Many foreign firms have made their initial public offering (IPO) debuts in the USA, without first being listed in their home market. The purpose of this paper is to investigate the association of a wide range of country risk measures with the valuation of foreign IPOs....
Persistent link: https://www.econbiz.de/10010611002
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An empirical analysis of the efficiency of online auction IPO processes and traditional IPO processes
Hensel, Nayantara - In: International Journal of Managerial Finance 5 (2009) July, pp. 268-310
Purpose – The purpose of this paper is to examine whether the online auction mechanism in the USA is more effective at pricing initial public offerings (IPOs) than the traditional book building process. Design/methodology/approach – The analysis compares the performance of online auction...
Persistent link: https://www.econbiz.de/10004993577
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Effects of underwriters, venture capital and industry on long-term initial public offering performance
Yip, Yewmun; Su, Yuli; Ang, Jiun Boon - In: Managerial Finance 35 (2009), pp. 700-715
/methodology/approach - Using standard event study methodology, 12 months of abnormal monthly returns for 1,772 IPOs are obtained. ANOVA and … regression analyses are performed on both abnormal returns (ARs) and cumulative ARs to investigate the effect of underwriter … average underperform the market, investors can earn above market returns by investing in IPOs that are underwritten by leading …
Persistent link: https://www.econbiz.de/10010761734
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An empirical analysis of the efficiency of online auction IPO processes and traditional IPO processes
Hensel, Nayantara - In: International Journal of Managerial Finance 5 (2009) 3, pp. 268-310
Purpose – The purpose of this paper is to examine whether the online auction mechanism in the USA is more effective at pricing initial public offerings (IPOs) than the traditional book building process. Design/methodology/approach – The analysis compares the performance of online auction...
Persistent link: https://www.econbiz.de/10014785301
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The views of UK family business owners on flotation
Poutziouris, Panikkos; Wang, Yong - In: International Journal of Entrepreneurial Behavior & Research 10 (2004) 1/2, pp. 106-126
This empirical research paper draws evidence from a database of UK independent private companies ( n =250) and reports on the financial aspirations of owner‐managers of family firms with respect to the flotation route. Following a brief review of the literature, the paper proceeds with an...
Persistent link: https://www.econbiz.de/10014769612
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When should an investor buy a newly issued stock?
Boyer, Carol Marie - In: Managerial Finance 30 (2004) 1, pp. 5-16
This study documents the amount of time it takes for Initial Public Offerings (POs) to make the transition from underperformance to meeting or exceeding the return for firms of similar size. The study looks at yearly holding period lengths of 1 to 10 years. The results of this study show that if...
Persistent link: https://www.econbiz.de/10014939717