Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 麦建理教授 (金融学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1007/BF01074315 |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/1WOS source URL
其它资讯
摘要This paper appraises the existing approaches used to measure the underpricing of Initial Public Offerings (IPOs). The conceptual problems surrounding the measurement of IPO underpricing are noted to be significant and suggest that underpricing costs and returns may need to be evaluated with reference to the particular characteristics of individual offerings. For example, details of the number of primary shares on offer, the effect on corporate control of listing, the information effects resulting from listing, the liquidity of shares pre-offer, the impact of speculative activity on post-listing firm value and, finally, the actual dating of an IPO may all need to be considered. In short, the existing measures suggested for IPO underpricing do not allow managers/owners in IPO firms or investors in IPO stocks to assess, unequivocally, the respective costs and returns from underpricing in such issues.
着者KEASEY K, MCGUINNESS P
期刊名称Small Business Economics
出版年份http://aims.cuhk.edu.hk/converis/portal/Publication/1995
月份2
日期http://aims.cuhk.edu.hk/converis/portal/Publication/1
卷号7
期次http://aims.cuhk.edu.hk/converis/portal/Publication/1
出版社KLUWER ACADEMIC PUBL
页次4http://aims.cuhk.edu.hk/converis/portal/Publication/1 - 54
国际标準期刊号092http://aims.cuhk.edu.hk/converis/portal/Publication/1-898X
电子国际标準期刊号http://aims.cuhk.edu.hk/converis/portal/Publication/1573-09http://aims.cuhk.edu.hk/converis/portal/Publication/13
语言英式英语
Web of Science 学科类别Business; BUSINESS; Business & Economics; Economics; ECONOMICS; Management; MANAGEMENT
