Gregory, Alan; Guermat, Cherif; Al-Shawawreh, Fawaz - In: Journal of Business Finance & Accounting 37 (2010-06) 5-6, pp. 612-647
In this paper we examine a comprehensive set of 2,499 UK IPOs launched between mid-1975 and the end of 2004. We find compelling evidence of long run under-performance that persists for between 36 and 60 months post-flotation, depending on the precise method chosen to measure abnormal returns....
