Previous research suggests that internationalization affects initial public offering (IPO) performance in the short term, but it less is known about founders’ role relationship between and IPO performance. The objectives of this study were to investigate moderating effects on impact newly listed companies. samples included 80 international firms Thailand stock markets from 2013 2020. Multiple r...

Initial Public Offering (IPO) merupakan kegiatan penawaran saham perdananya kepada masyarakat luas. Fenomena yang terjadi ketika akan melakukan IPO pada umumnya adalah underpricing. Underpricing kondisi menunjukkan bahwa harga di pasar primer lebih rendah dibandingkan hari pertama sekunder. Tujuan dari penelitian ini untuk mengetahui pengaruh antara variabel keuangan dan non terhadap underprici...

A robust finding in the literature is that seasoned equity offerings (SEOs) are followed by negative long-run abnormal returns, which can be seen as evidence of market timing. In this paper I document the cost of market timing, based on the idea that investors view companies with the most negative abnormal returns in the year following a SEO, as most likely to have timed the issue. I find that ...

From 1997 through 2003, the UN Oil for Food Program allowed Iraq to export oil for humanitarian supplies. We hypothesize that Iraq deliberately set the price of its oil below market prices to solicit bribes from oil buyers. By comparing the price gap between Iraqi oil and its close substitutes during the Program to the gap prior to the Program, we find evidence of significant underpricing. Our ...

Low-cost providers have emerged as important players in many service industries, the most predominant being low-cost, or the so-called discount airlines. This paper presents models and results leading toward understanding the revenue management outlook for a discount pricing firm. A framework and model is formulated specifically for the airline industry, but is generalizable to low-cost provide...

This study examines the role of pre-IPO discretionary accruals in the valuation and underpricing of IPOs. We find that IPO offer price is unaffected whereas market closing price is positively associated with the levels of pre-IPO discretionary accruals for issuers with aggressively reported earnings. We also find that this relative over-valuation of managed earnings by the markets explains a po...

Female entrepreneurs and CEOs generally face greater challenges in securing funding to exploit entrepreneurial opportunities, yet contextual factors under which such are more likely arise less understood. We find that female-led initial public offerings (IPOs) incur IPO underpricing, but this effect is moderated by their ownership structure, reflecting different institutional logics these firms...

The larger underpricing (15 percent) in the early years following inauguration of Borsa Istanbul indicates importance investors, intermediaries, and firm insiders learning about trading pricing firms organized stock markets. recent (from 2010 to 2020) averages 5 percent. Micro-level uncertainties as evidenced by smaller IPOs marketed using fixed offer prices, where underwriters signed on for co...

The IPO phenomenon is a hot issue based on the financial field of listed companies. China has underpricing, and underpricing new shares in much higher than that other countries. Unlike western countries, China's repression stronger, environment special, there are more retail investors stock market, which obviously influenced by emotions have strong herd mentality. negative impact capital market...