Initial Public Offerings: Findings and Theories

Erscheinungsjahr 2012
ISBN: 978-1-4613-5969-2
Verlag: Springer

Buch, Englisch, 111 Seiten, Format (B × H): 155 mm x 235 mm, Gewicht: 219 g

Reihe: Innovations in Financial Markets and Institutions

Initial public offerings (IPOs) play a crucial role in allocating resources in market economies. Because of the enormous importance of IPOs, an understanding of how IPOs work is fundamental to an understanding of financial markets generally. Of particular interest is the puzzling existence of high initial returns to equity IPOs in the United States and other free-market economies.
Designed for use by anyone wishing to perform further academic research in the area of IPOs and by those practitioners interested in IPOs as investment vehicles.

Zielgruppe

Research

Autoren/Hrsg.

Anderson, Seth

Beard, T. Randolph

Born, Jeffery A.

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Finanzsektor & Finanzdienstleistungen: Allgemeines
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen Betriebliches Rechnungswesen

Inhaltsverzeichnis

1. Initial Public Offerings: An Introduction.- 2. History, Regulation, and Process.- 3. Empirical Findings.- Domestic Common Stock.- Foreign Common Stock>.- Bonds.- Investment Company/Other Offerings.- Summary.- 4. Theoretical Models of IPOs.- Adverse Selection.- Principal-Agent.- Signalling.- Heterodox Explanations.- Other IPO Models.- 5. Testing Theories of Underpricing.- 6. Conclusion.- Endnotes.