| ID | 077188 |
| Title Proper | Market Conditions and Abnormal Returns of IPO-An Empirical Study of Taiwan's High-Tech Companies |
| Language | ENG |
| Author | Leon Li, Ming-Yuan ; Sheu, Her-Jiun ; Lin, Lin ; Tang, Yu-Chi |
| Publication | 2007. |
| Summary / Abstract (Note) | Four new determinants of initial/long-run IPO (initial public offering) returns from the perspectives of market conditions are proposed in this paper. The associated effects are examined by using the samples of Taiwan's high-tech IPO companies. Our empirical findings are consistent with the following notions. First, the four new determinants proposed perform remarkable effects on the IPO returns. Second, the length for IPO and IPO clustering phenomena has notable impacts on the long-run returns of IPO. In contrast, the performances of public stock markets show significant effects on the initial returns of IPO |
| `In' analytical Note | Journal of Chinese Econonics and Business Studies Vol. 5, No.1; Feb 2007: p51-64 |
| Journal Source | Journal of Chinese Econonics and Business Studies Vol. 5, No.1; Feb 2007: p51-64 |
| Key Words | IPO ; Abnormal Returns ; Hot Market ; Honeymoon Period |