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Do Banks Time Bond Issuance to Trigger Disclosure, Due Diligence, and Investor Scrutiny?

Covitz, Daniel M. - 2004

This paper tests a new hypothesis that bank managers issue public debt, at least in part, to convey positive, private information and refrain from issuance to hide negative, private information. This positive selection hypothesis is tested against the traditional adverse selection hypothesis. We...

Persistent link: https://www.econbiz.de/10012785682

Politicians and the IPO decision: The impact of impending political promotions on IPO activity in China

Piotroski, Joseph D.; Zhang, Tianyu - In: Journal of Financial Economics 111 (2014) 1, pp. 111-136

This paper shows that incentives created by the impending turnover of local politicians can accelerate the pace of initial public offering (IPO) activity in certain politicized environments. Focusing on China, we exploit a research setting where politicians are rewarded for capital market...

Persistent link: https://www.econbiz.de/10010718735

How does government ownership affect firm performance? A simple model of privatization in transition economies

Huang, Linqiang; Xiao, Sheng - In: Economics Letters 116 (2012) 3, pp. 480-482

We present a game-theoretical model of privatization in transition economies. We consider the costs and benefits of …

Persistent link: https://www.econbiz.de/10010594177

Privatization and Productivity in Romanian Industry: Evidence from a Comprehensive Enterprise Panel

Earle, John S.; Telegdy, Álmos - Institute for the Study of Labor (IZA) - 2001

We construct and analyze a unique database with 1992-99 information on privatization transactions and labor … describe the post-privatization ownership structure and to test the effect of alternative privatization policies on firm … and domestic blockholders, but insider and mass privatization are also estimated to have positive, although smaller …

Persistent link: https://www.econbiz.de/10005566810

Problems of access to structural funds by the private sector

NANU, Roxana; GRUESCU, Ramona - In: Finante - provocarile viitorului (Finance - Challenges … 1 (2009) 9, pp. 212-219

The paper identifies the operational programs through SMEs benefit by financing from structural funds, present the main features of financing, the terms, eligibility criteria but also the problems meet in accessing the funds.

Persistent link: https://www.econbiz.de/10008556678

Financing Private SME in Bulgaria

Balabanov, Todor - Department of Economics and Finance Research and … - 1998

This study looks into the prospects for financing of private Small and Medium Enterprises (SME) in Bulgaria. The institutional development supportive to a successful governmental and private support to this segment of capital market are exemplified through German experience and Hungarian...

Persistent link: https://www.econbiz.de/10005704162

Motives and effects of the initial public offerings on the Warsaw Stock Exchange

Sosnowski, Tomasz - Instytut Badañ Gospodarczych (IBG) - 2014

This paper empirically investigates the links between the motives for going public and changes in the market value and efficiency of new stock companies. Using a sample of 200 firms from Warsaw Stock Exchange between 2005 and 2012 I find that the principal purpose of initial public offering is...

Persistent link: https://www.econbiz.de/10011166170

Existe-t-il une gestion managériale du flottant et du prix d’offre lors d’une introduction en Bourse sur Euronext Paris ? - Is there a management of the float and the offer price during an initial public offering on Euronext Paris ?

Poincelot, Evelyne; Poincelot, Dominique - Université de Bourgogne - CREGO EA7317 Centre de … - 2015

(VF) L’objectif de cet article est d’étudier dans quelle mesure les motivations à s’introduire en Bourse ainsi que les conséquences sur la performance peuvent conditionner le choix du taux de flottant et du prix offert à l’introduction impliquant une décote. A partir de 75...

Persistent link: https://www.econbiz.de/10011123759

Price Bubbles of New-Technology IPOs

Kedar-Levy, Haim - In: Journal of Entrepreneurial Finance 7 (2002) 2, pp. 11-32

Asset pricing models with atomistic agents typically relax assumptions concerning rationality and/or homogenous information in order to track endogenous bubbles. In this model, identically informed rational agents hold a Perceived Law of Motion (PLM) for a single new technology asset at IPO, yet...

Persistent link: https://www.econbiz.de/10010765311

Forecasting Short Run Performance of Initial Public Offerings in the Istanbul Stock Exchange

Aktas, Ramazan; Karan, Mehmet Baha; Aydogan, Kürsat - In: Journal of Entrepreneurial Finance 8 (2003) 1, pp. 69-85

Previous research on IPOs has identified several factors or issue characteristics that play a role in the level of short term underpricing of initial public offerings. Some of those issue features are the firm size, market trend, size of the offer, investment banker reputation, method of...

Persistent link: https://www.econbiz.de/10010765344