Do Discounts Enhance or Degrade IPOs Valuation Performance?

The Valuation of Science-based Ipos

PERFORMANCE OF THE UK INVESTMENT TRUST IPOs

In this study we investigate the performance of investment trust new issues during their first 750 days of trading. Research on the initial performance of new issues has documented that abnormal returns are obtained during the first day of trading. We compare the performance of investment trust new issues with the performance of size and style-based matching investment trusts taking the multina...

Investor Demand for IPOs and Aftermarket Performance:

This study examines the relationship between investor demand for IPOs prior to offerings and aftermarket performance of IPO firms during the period from 1993 to 1997 in the Hong Kong stock market. The paper finds that the IPOs with high investor demand have large positive initial returns but negative longer-run excess returns, while the IPOs with low investor demand have negative initial return...

Performance of electrophysiologic study in an asymptomatic patient with type 2 intermittent Brugada syndrome: To do or not to do?

Background: Brugada syndrome (BrS) is an inherited channelopathy, which is associated with sudden cardiac death due to rapid polymorphic VT or VF. There is no definite consensus regarding the management of asymptomatic patients. Some experts advocate close follow-up; others propose the programmed stimulation for risk stratification. We aimed to evaluate the benefit of complete atrial and ventri...

How do underwriters select peers when valuing IPOs?

Valuing IPOs using multiples leaves a high degree of responsibility to underwriters in the selection of comparable firms. This is the first paper that compares the peers selected by the underwriters with those selected by sell-side analysts or obtained from matching algorithms. Using a sample of 348 companies going public in France and Italy over the last decade, we find that, on average, peers...