Description |
1 online resource |
Series |
Gabler Edition Wissenschaft |
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Gabler Edition Wissenschaft.
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Contents |
And Motivation -- Valuation under Information Risk -- Derivation of a Returns-Based Measure of Information Quality -- Abnormal Returns Measurement and Hypotheses Development -- Tests with Abnormal Portfolio Returns -- Robustness Tests -- Concluding Remarks |
Summary |
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 underperformance. 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 |
Analysis |
economie |
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economics |
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bedrijfswetenschap |
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management science |
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finance |
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bankwezen |
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banking sector |
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Management studies, Business Administration, Organizational Science (General) |
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Economics (General) |
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Management, bedrijfskunde, organisatiekunde (algemeen) |
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Economie (algemeen) |
Notes |
Dissertation am Fachbereich IV der Universität Trier, 2005 |
Bibliography |
Includes bibliographical references |
Notes |
Print version record |
Subject |
Financial risk management.
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Financial risk.
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Going public (Securities)
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Economie de l'entreprise.
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Science économique.
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Affaires.
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Financial risk
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Financial risk management
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Going public (Securities)
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Genre/Form |
dissertations.
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Academic theses
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Academic theses.
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Thèses et écrits académiques.
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Form |
Electronic book
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ISBN |
9783834981172 |
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3834981176 |
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9783834912596 |
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383491259X |
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