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The long‐run performance of initial public offerings in Germany

✍ Scribed by Khurshed, Arif; Bessler, Wolfgang; Thies, Stefan


Book ID
120086071
Publisher
Emerald Group Publishing Limited
Year
2007
Tongue
English
Weight
523 KB
Volume
33
Category
Article
ISSN
0307-4358

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The Long-Run Performance of Initial Publ
✍ Ritter J.R. 📂 Library 📅 1991 🌐 English ⚖ 1 MB

The underpricing of initial public offerings (IPOs) that has been widely documented appears to be a short-run phenomenon. Issuing firms during 1975-84 substantially underperformed a sample of matching firms from the closing price on the first day of public trading to their three-year anniversaries.