Market Segmentation and IPO-Underpricing : Implications of an Analysis of 809 European IPOs

Based on the implications of Rock (1986) and Beatty/Ritter (1986) this study focuses on the influence of vertical market segmentation. The analysis of 435 German IPOs from 1997-2002 shows that the empirical findings are not clear in harmony with what would be expected.

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Year of publication:	2003-11-01
Authors:	Hunger, Adrian
Publisher:	Universität <München> / Fakultät für Betriebswirtschaft
Subject:	Wertpapieremission \| Unterbewertung \| underpricing \| Neuer Markt

Table of Contents
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1. Introduction
2. The Winner's Curse, Uncertainty, and other Explanations ofUnderpricing
3. The German Issue Market
4. The IPO-Underpricing - Empirical Evidence
5. Summary

Persistent link: https://www.econbiz.de/10009138413