Initial Public Offerings (IPO)

An International Perspective of IPOs

Greg N. Gregoriou

• Publisher: Butterworth-Heinemann
• Year: 2011
• ISBN:
  9780080461670
• Topic: Business
• Subtopic: Finanza d'impresa
• Index: Business

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

Table of contents

• Cover
• Initial Public Offerings
• Contents
• Preface and Acknowledgments
• About the editor
• List of contributors
• Part One Performance of IPOs
• Nasdaq IPOs around the market peak in 2000
• Returns to style investments in initial public offerings
• The effect of IPO characteristics on long-run performance of Taiwan’s IPOs: evidence from efficiently learning markets
• Short- and long-run performance of IPOs traded on the Istanbul Stock Exchange
• Indexing the IPO sector with IPOX™ Indices
• The size effect of firms going public on the Spanish capital market
• Earnings management and the long-run performance of Spanish initial public offerings
• IPO initial returns on European ‘new markets’
• Efficiency of US IPOs: a DEA approach
• Part Two IPO Underpricing: International Evidence
• Generalizing the winner’s curse hypothesis: the case of the Belgian IPO market
• Flipping activity in fixed offer price mechanism allocated IPOs
• Getting IPO pricing right: vive la France?
• Underpricing and the aftermarket performance of initial public offerings: the case of Austria
• The hot-issue period in Germany: what factors drove IPO underpricing?
• Reassessing Canadian IPO underpricing: evidence from common share, Capital Pool Company, and unit offerings
• IPO underpricing and ownership structure: evidence from the Istanbul Stock Exchange
• Part Three Corporate Structure and IPO Evaluation
• IPOs and earnings management in Germany
• Signaling and the valuation of IPOs: regression tests
• The role of venture capitalists in IPO performance: empirical evidence from German IPO data
• Ownership structure and initial public offerings in Portugal
• Part Four Bookbuilding, Listing, and Underwriting
• Bookbuilding and share pre-allocation in IPOs
• Costs and benefits in the choice of the audit and underwriting quality in the IPO market: an empirical analysis of competing theories
• Siamese twins and virtual mergers: dual-listed companies in Australia
• Equity issuance trends in Australia’s listed investment fund markets
• Do underwriters create value for issuers by subjectively determining offer prices?
• Index