Stadtansichten: Befunde der BBSR-Umfrage aus Groß- und Mittelstädten
In: BBSR-Berichte kompakt 2011,6
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In: BBSR-Berichte kompakt 2011,6
In: CFS working paper 2000/12
This paper provides empirical evidence on initial public offerings (IPOs) by investigating the pricing and long-run performance of IPOs using a unique data set collected on the German capital market before World War I. Our findings indicate that underpricing of IPOs has existed, but has significantly decreased over time in our sample. Employing a mixture of distributions approach we also find evidence of price stabilization of IPOs. Concerning long-run performance, investors who bought their shares in the early after-market and held them for more than three years experienced significantly lower returns than the respective industry as a whole..
In: Journal of economics, Volume 92, Issue 1, p. 89-91
ISSN: 1617-7134
In: The economic journal: the journal of the Royal Economic Society, Volume 113, Issue 488, p. F408-F409
ISSN: 1468-0297
In: Beiträge zur betriebswirtschaftlichen Forschung 75
In: KAS-Auslandsinformationen, Volume 8, Issue 11, p. 5-9
ISSN: 0177-7521
World Affairs Online
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In: Swedish House of Finance Research Paper 20-25
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Working paper
On 23 July 2014, the U.S. Securities and Exchange Commission (SEC) passed the "Money Market Reform: Amendments to Form PF ," designed to prevent investor runs on money market mutual funds such as those experienced in institutional prime funds following the bankruptcy of Lehman Brothers. The present article evaluates the reform choices in the U.S. and draws conclusions for the proposed EU regulation of money market funds.
BASE
This paper provides empirical evidence on initial public offerings (IPOs) by investigating the pricing and long-run performance of IPOs using a unique data set collected on the German capital market before World War I. Our findings indicate that underpricing of IPOs has existed, but has significantly decreased over time in our sample. Employing a mixture of distributions approach we also find evidence of price stabilization of IPOs. Concerning long-run performance, investors who bought their shares in the early after-market and held them for more than three years experienced significantly lower returns than the respective industry as a whole. Earlier versions of this paper were presented at the ABN-AMRO Conference on IPOs in Amsterdam, the Annual Meetings of the European Finance Association, the Annual Meetings of the Verein für Socialpolitik, the IX Tor Vergata International Conference on Banking and Finance in Rome, and at Johann Wolfgang Goethe-University in Frankfurt.
BASE
On 23 July 2014, the U.S. Securities and Exchange Commission (SEC) passed the "Money Market Reform: Amendments to Form PF ," designed to prevent investor runs on money market mutual funds such as those experienced in institutional prime funds following the bankruptcy of Lehman Brothers. The present article evaluates the reform choices in the U.S. and draws conclusions for the proposed EU regulation of money market funds.
BASE
In: Proceedings of the EUROFIDAI-ESSEC Paris December Finance Meeting 2023
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In: SAFE Working Paper No. 334
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