Initial Public Offerings in Australia 1994 to 1999, Recent Evidence of Underpricing and Underperformance
作者： William Dimovski , Robert Brooks
DOI: 10.1023/B:REQU.0000025759.39918.89
关键词: Term (time) 、 Initial public offering 、 Dividend 、 Australian studies 、 Financial economics 、 Listing (finance) 、 Market sentiment 、 Business 、 Corporate finance 、 Underwriting
摘要: This paper analyses whether financial and non characteristics of Australian initial public offerings (IPOs) can explain observed underpricing long term underperformance over the period 1994 to 1999. A number previous studies have investigated day longer IPOs this study updates those papers. We find that in part be explained by market sentiment, forecast dividend per share yields, underwriter options options. Our analysis supports finding on average, underperform first year following their listing.
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