Initial Public Offerings (IPO)

  • ID: 3025369
  • Book
  • 464 Pages
  • Elsevier Science and Technology
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After the cooling off of IPOs since the dot com bubble, Google has rekindled the fire for IPOs. This IPO reader contains new articles exclusive to this reader by leading academics from around the world dealing with quantitative and qualitative analyses of this increasingly popular and important area of finance. Articles address new methods of IPO performance, international IPOs, IPO evaluation, IPO underwriting, evaluation and bookbuilding. Although numerous articles are technical in nature, with econometric and statistical models, particular attention has been directed towards the understanding and the applicability of the results as well as theoretical development in this area. This reader will assist researchers, academics, and graduate students to further understand the latest research on IPOs.

Interest in IPOs is increasing again after the Google IPO, and IPOs are up significantly from last year
Chapters by well known academics provide an international perspective, describing research results from IPO data in countries spanning the globe
Research is based on real results from IPO data collected over the past 5-7 years
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Part One
Performance of IPOs
1 Nasdaq IPO around the market peak in 2000
2 Returns to style investments in Initial Public Offers
3 The long-run performance of Taiwan's IPOs conditioning characteristics: evidence from efficiently learning markets
Anlin Chen, Sue L. Chiou and Chinshun Wu
4 Short and long-run performance of IPOs traded on the Istanbul stock exchange
Mehmet Orhan
5 Indexing the IPO sector with IPOXT indices
Josef A. Schuster
6 The size effect of firm's going public on the Spanish capital market
Susana Alvarez-Otero and Victor M. Gonzalez-Mendez
7 Earnings management and the lomg-run performance of Spanish inital public offerings
Maria J. Pastor-LLorca and Francisco Poveda-Fuentes
8 IPO Intial returns on European "new markets"
Giancarlo Giudici and Peter Roosenboom
9 Efficiency of U.S. Internet IPOs: a data envelopment analysis approach
Greg N. Gregoriou and Maher Kooli
Part Two
IPO Underpricing: International Evidence
10 Generalzing the winner's curse hypothesis: the case of the Belgian IPO market
Michel Boelen and Georges Hübner
11 Flipping activity in fixed offer price mechanism allocated IPOs
Dimitrios Gounopoulos
12 Getting the IPO right: viva la France?
Edel Barnes
13 Underpricing and the aftermarket performance of inital public offerings: the case of Austria
Wolfgang Aussenegg
14 The hot-issue period in Germany-what factors drove IPO underpricing?
Stefan Guenther and Marco Rummer
15 Reassessing Canadian IPO underpricing: evidence from common share, capital pool company and unit offering
Maher Kooli
16 IPO Underpricing and ownership structure: evidence from the Istanbul stock exchange
M. Banu Durukan
Part Three
Corporate Strucuture and IPO Evaluation
17 IPOs and earnings management in Germany
Tereza Tykvova
18 Signaling and the valuation of IPOs: regression tests
Steven Xiaofan Zheng
19 The role of venture capitalists in IPO performance: emprical evidence from Germany
Andreas Hack and Erik E. Lehmann
20 Ownership structure and intial public offerings in Portugal
José Miguel Almeida and João Duque
Part Four
Bookbuilding, Listing and Underwriting
21 Bookbuilding and shre pre-allocation in IPOs
Nancy Huyghebaert and Cynthia Van Hulle
22 Costs and benefits in the choice of the audit and underwriting qualitiy in the IPO market: an empirical analysis of competing theories
Joseph Aharony, Ran Barniv and Chan-Jane Lin
23 Siamese Twins and Virtual Mergers: Dual Listed Companies in Australia
Paul Ali
24 Equity issuance trends in Australia's listed investment fund markets
Martin Gold
25 Do underwriters create value for issuers by subjectively determining offer prices?
Steve Dolvin
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Gregoriou, Greg N.
Greg N. Gregoriou is Professor of Finance, School of Business and Economics, State University of New York at Plattsburgh. He is Research Associate at the Caisse de dépôt et placement du Québec Endowed Chair in Portfolio Management at the University of Quebec at Montreal, as well as Lecturer in the School of Continuing Studies at McGill University.. . Professor Gregoriou has published several books with Elsevier including the two-volume Handbook of Asian Finance, Reconsidering Funds of Hedge Funds, Valuation and Pricing Models, and the Handbook of Short Selling, and is hedge fund editor and editorial board member of the Journal of Derivatives and Hedge Funds. . . . .
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