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Excessive IPO pricing, the government issuer and the floatation time game

Tian, Lihui (contributor) - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001730392

Share Issuance and Expected Returns Around the World

Zaremba, Adam - 2019

Practitioners and academics often consider IPO activity as a gauge of investor optimism and market valuation. This study investigates the cross-sectional implications of this concept at the country level. We use sorting and cross-sectional tests to examine linkages between past share issuance...

Persistent link: https://www.econbiz.de/10012904214

Book-to-market decomposition, net share issuance, and the cross section of global stock returns

Blackburn, Douglas W.; Cakici, Nusret - In: Journal of risk and financial management : JRFM 12 (2019) 2/90, pp. 1-29

This paper provides global evidence supporting the hypothesis that expected return models are enhanced by the inclusion of variables that describe the evolution of book-to-market-changes in book value, changes in price, and net share issues. This conclusion is supported using data representing...

Persistent link: https://www.econbiz.de/10012022063

Are Hospitality Industry IPO Stock Returns Predictable?

Borghesi, Richard - 2015

We examine the post-IPO excess stock returns of hospitality firms from 1996 to 2012 and find underperformance relative to the market on average. However, there are large differences in returns and some firms significantly outperform. We demonstrate that a substantial portion of this variation...

Persistent link: https://www.econbiz.de/10013032384

Test of the Chen-Roll-Ross macroeconomic factor model : evidence from Croatian stock market

Dolinar, Dolinar; Orsag, Silvije; Suman, Paola - In: UTMS journal of economics / University of Tourism and … 6 (2015) 2, pp. 185-196

This paper empirically examines the well-known Chen-Roll-Ross model on the Croatian stock market. Modifications of definitions of the Chen-Roll-Ross model variables showed as necessary because of doubtful availability and quality of input data needed. Namely, some macroeconomic and market...

Persistent link: https://www.econbiz.de/10011456296

Does it Pay to Invest in IPOs? Evidence from the Warsaw Stock Exchange

Sieradzki, Rafał - 2013

In this paper we analyze IPO underpricing on the Warsaw Stock Exchange between 2003 and 2011. The average initial … platform. This observation goes against information asymmetry theories of IPOs underpricing. Also the abnormal initial return … was the highest in case of the latter companies. Four determinants of IPOs underpricing proved to be significant at 0 …

Persistent link: https://www.econbiz.de/10013087108

Do Private Firms' Dividends Predict Stock Returns?

Sabbatucci, Riccardo - 2015

In this paper I show that information about fundamentals of the aggregate economy derived from closely held firms help predict stock returns. I construct a new economy-wide dividend price ratio that takes into account dividends and market capitalization of both listed (public) and non-listed...

Persistent link: https://www.econbiz.de/10013013214

An Examination of IPO Secondary Market Returns

Bradley, Daniel - 2011

increase as a percentage of total underpricing. We explore several non-mutually exclusive hypotheses to explain our findings …

Persistent link: https://www.econbiz.de/10013123895

Dectecting speculative bubbles in stock prices : a new approach and some evidence for the US

Bohl, Martin T.; Siklos, Pierre L. - 2001

Persistent link: https://www.econbiz.de/10001617689

An Econometric Panel-Midas Model of Asset Returns in the Brazilian Stock Market

Moura Costa da Silva, Aline; de Medeiros, Otavio Ribeiro - 2018

The paper describes the specification, estimation, and testing of an unrestricted structural econometric model design to explain and forecast individual returns of securities listed on the Brazilian stock market. The model's explanatory variables include macroeconomic, fundamental and...

Persistent link: https://www.econbiz.de/10014112120