Market performance of US-listed Shipping IPOs
نویسندگان
چکیده
منابع مشابه
A market microstructure explanation of IPOs underpricing
In a typical IPO game with first-price auctions, we argue that risk-averse investors always underbid in equilibrium because of subjective interpretations of the firm’ communication about its actual value and resulting risk aversion about the likelihood of facing investors with higher valuations. We show that the noisier the investors’ inferences of the firm’ value (in the sense of first-order s...
متن کاملReflections on US Labour Market Performance
This paper considers the impressive employment and unemployment performance of the United States over the past two decades, and the contrasting high unemployment experienced by most other OECD nations over the same period. It concludes that the multiple dimensions of US labour market flexibility have helped to produce strong labour market outcomes. However, the paper also documents the large in...
متن کاملPERFORMANCE OF THE UK INVESTMENT TRUST IPOs
In this study we investigate the performance of investment trust new issues during their first 750 days of trading. Research on the initial performance of new issues has documented that abnormal returns are obtained during the first day of trading. We compare the performance of investment trust new issues with the performance of size and style-based matching investment trusts taking the multina...
متن کاملThe initial and aftermarket performance of IPOs in an emerging market: evidence from Istanbul stock exchange
This paper empirically analyzes the initial and after-market returns for the Turkish initial public offerings (IPOs) to provide an emerging market case of international evidence on performances of IPOs. The sample consists of 163 firms listed and traded on the Istanbul Stock Exchange during the period of 1990–1996. The results show that the Turkish IPOs are underpriced on initial trading day on...
متن کاملInvestor demand for IPOs and aftermarket performance: Evidence from the Hong Kong stock market
In this study, we examine the relation between pre-offering demand and aftermarket performance of IPO firms in the Hong Kong stock market. We find that IPOs with high investor demand realize large positive initial returns but negative long-run excess returns, while IPOs with low investor demand realize negative initial returns but positive long-run excess returns. This result suggests that (1) ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Maritime Economics & Logistics
سال: 2010
ISSN: 1479-2931,1479-294X
DOI: 10.1057/mel.2009.18