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Information Risk and Long-Run Performance of Initial Public Offerings Frank Ecker 2009 edition
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Information Risk and Long-Run Performance of Initial Public Offerings
Frank Ecker
There has been an extensive debate in financial economics research on long-term abnormal stock returns following firms' initial public offerings (IPOs). So far, the discussion has concentrated on long-term under-performance. Frank Ecker examines the performance of U. S. IPOs from 1980 to 2002. He links positive and negative abnormal returns to the deviation of the realized information risk from the expected information risk. the author shows that abnormal returns are significantly negative during the price adjustment process when information risk has initially been underestimated whereas the returns are significantly positive in cases of information risk overestimation. Based on his findings, he proposes effective measures for a long-term profitable investment strategy in IPOs. This book is a valuable reference for academics in the field of capital market research as well as for managers of IPO firms and investment bankers.
132 pages, 27 black & white tables, biography
| メディア | 書籍 Paperback Book (ソフトカバーで背表紙を接着した本) |
| リリース済み | 2008年10月28日 |
| ISBN13 | 9783834912596 |
| 出版社 | Springer Fachmedien Wiesbaden |
| ページ数 | 132 |
| 寸法 | 148 × 210 × 8 mm · 190 g |
| 言語 | 英語 ドイツ語 |
| 寄稿者 | Prof. Dr. Hellmuth Milde |
| 寄稿者 | Prof. Dr. Per Olsson |