Characteristics and underpricing of Australian mining and energy IPOs from 1994 to 2001
Contribuinte(s) |
Daly, Kevin |
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Data(s) |
01/01/2005
|
Resumo |
This paper follows How (2000) who examined 130 Australian mining and energy initial public offerings (IPOs) from 1979 to 1990 to report an average 107.18 % underpricing return by those IPOs. This study updates that report by investigating 127 Australian mining and energy IPOs from 1994 to 2001 to find a substantially lower 17.93 % average first day return. These updated findings have implications for both new companies seeking to float and also for the subscribers wishing to invest in these new listings.<br /> |
Identificador | |
Idioma(s) |
eng |
Publicador |
Australasian Finance Group |
Relação |
http://dro.deakin.edu.au/eserv/DU:30005580/dimovski-characteristicsand-2005.pdf |
Direitos |
2005, Australasian Finance Group |
Palavras-Chave | #IPOs #underpricing #mining #resources #energy |
Tipo |
Conference Paper |