The Really Long-Run Performance of Initial Public Offerings: The Pre-Nasdaq Evidence

Initial public offerings , subsequent seasoned equity offerings , and long - run performance : Evidence from IPOs in Germany

The Long-Run Role of the Media: Evidence from Initial Public Offerings

T unique characteristics of the U.S. initial public offering (IPO) process, particularly the strict quiet period regulations, allow us to explore the effects of media coverage when the coverage does not contain genuine news (i.e., hard information that was previously unknown). We show that a simple, objective measure of pre-IPO media coverage is positively related to the stock’s long-term value...

Long run underperformance of initial public offerings: an explanation;

Initial public offerings, even though risky, typically underperform the indices for the first few years after offering. This can be explained by high divergence of opinion raising the initial market price, and by this divergence of opinion declining over time. With time, the valuation of the price setting marginal investor comes closer to the average investor’s valuation. This theory also expla...

earning management & the long-run market performance of initial public offerings: evidences from tehran stock exchange (tse)

in this research, we investigate the influence of profit management on the long-term performance of ipos in tehran stock exchange. the ipos in 1378 to 1384 are used as our sample and their long-term return in a three-year period after the ipo are calculated. we start calculating the return from the first day after the month in which the financial statement of ipo is published. discretionary cur...

Do Seasoned Equity Offerings Really Underperform in the Long Run? Evidence from New Zealand

This study investigates the long run performance of seasoned equity offerings on the New Zealand Stock Exchange. The sample consists of 39 seasoned equity offerings between 1984 and 1994. The research investigates the relationships between the long run performance and issue size, issuer size, the proportion of issue size to firm size, and survivorship. The results of the research indicate that ...