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Earnings Forecast Accuracy Allocation Of Shares Initial Performance And Flipping Activities In Greek Ipos
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Book Synopsis Earnings Forecast Accuracy, Allocation of Shares, Initial Performance and Flipping Activities in Greek IPOs by : Dimitrios Gounopoulos
Download or read book Earnings Forecast Accuracy, Allocation of Shares, Initial Performance and Flipping Activities in Greek IPOs written by Dimitrios Gounopoulos and published by . This book was released on 2007 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Earnings Forecast Accuracy,allocation of Share, Initial Performance and Flipping Activities in Greek IPOs by : Dimitrios Gounopoulos
Download or read book Earnings Forecast Accuracy,allocation of Share, Initial Performance and Flipping Activities in Greek IPOs written by Dimitrios Gounopoulos and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Index to Theses with Abstracts Accepted for Higher Degrees by the Universities of Great Britain and Ireland and the Council for National Academic Awards by :
Download or read book Index to Theses with Abstracts Accepted for Higher Degrees by the Universities of Great Britain and Ireland and the Council for National Academic Awards written by and published by . This book was released on 2007 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Irrational and Rational Sides of IPO Flippers by : Maher Kooli
Download or read book The Irrational and Rational Sides of IPO Flippers written by Maher Kooli and published by . This book was released on 2018 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Initial public offering (IPO) flippers are investors who are initially allocated shares at the offer price and immediately resell them. Using a large sample of 2003 IPOs in China from January 1995 to December 2012, we find that on average, flipping accounts for 65.92% of total negotiable shares. We also note that investors flip a greater percentage of their allocation when the IPO is hot and extra hot rather than cold, which confirms the existence of disposition effects. We also examine the impact of the first-day flipping activity on subsequent IPO performance. Using different performance measures, we confirm the negative relationship between flipping activity and IPO aftermarket performance. Specifically, we find that a 10% increase in flipping activity lowers the three-year IPO aftermarket annual performance by 3.6%. Our results are in line with the divergence of opinion hypothesis and asymmetric information.
Book Synopsis Associations Between Management Forecast Accuracy and Pricing of IPOs in Athens Stock Exchange by : Dimitrios Gounopoulos
Download or read book Associations Between Management Forecast Accuracy and Pricing of IPOs in Athens Stock Exchange written by Dimitrios Gounopoulos and published by . This book was released on 2014 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the earnings forecast accuracy of newly listed companies on the Athens Stock Exchange and further investigates the relationship between earnings forecast and pricing of IPOs. It uses a unique data set of 208 IPOs, which were floated during the period of January 1994 to December 2001 in the Athens Stock Exchange. The results suggest that investors are able to anticipate forecast errors at the time of listing. Pricing of IPOs indicate that firms with negative earnings forecast (pessimistic) are associated with low level of underpricing while optimistic management earning forecast can be a signal for high initial returns. Three variables ndash; age of the IPOs, ownership by insiders and industry classification significantly contribute towards accuracy of earnings forecast.
Book Synopsis Allocation of Initial Public Offerings and Flipping Activity by : Reena Aggarwal
Download or read book Allocation of Initial Public Offerings and Flipping Activity written by Reena Aggarwal and published by . This book was released on 2012 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is general misperception that the large trading volume in initial public offerings (IPOs) in the aftermarket is mostly due to quot;flippersquot; that are allocated shares in the offering and immediately resell them in the aftermarket when the stock starts trading. We find that on average flipping accounts for only 19 percent of trading volume (median of 17 percent) and 15 percent of shares offered (median of 7 percent) during the first two days of trading; institutions do more flipping than retail customers; and hot IPOs are flipped much more than cold IPOs. It has been argued that institutions are strong hands that do not flip shares and are therefore allocated large proportions of an offering. However, we find that institutions consistently flip a larger proportion of their allocation than retail customers and that the hypothesis that institutions are smart investors that quickly flip cold IPOs while the underwriter is still providing price support is not true. Investment banks closely monitor flipping activity because excessive flipping can put downward pressure on the stock price, particularly of weak offerings. They have devised mechanisms, such as penalty bids, to restrict flipping activity. In our sample, explicit penalty bids are directly assessed only in a few IPOs and the total dollar penalties are small.
Book Synopsis The Determinants of the Accuracy of Earnings Forecasts in IPO Prospectuses and Their Association with Initial IPO Returns: a Study of Greece by : Eirini Spanoudaki
Download or read book The Determinants of the Accuracy of Earnings Forecasts in IPO Prospectuses and Their Association with Initial IPO Returns: a Study of Greece written by Eirini Spanoudaki and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Survey of the European IPO Market by :
Download or read book A Survey of the European IPO Market written by and published by CEPS. This book was released on 2006 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How I Became a Quant by : Richard R. Lindsey
Download or read book How I Became a Quant written by Richard R. Lindsey and published by John Wiley & Sons. This book was released on 2011-01-11 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for How I Became a Quant "Led by two top-notch quants, Richard R. Lindsey and Barry Schachter, How I Became a Quant details the quirky world of quantitative analysis through stories told by some of today's most successful quants. For anyone who might have thought otherwise, there are engaging personalities behind all that number crunching!" --Ira Kawaller, Kawaller & Co. and the Kawaller Fund "A fun and fascinating read. This book tells the story of how academics, physicists, mathematicians, and other scientists became professional investors managing billions." --David A. Krell, President and CEO, International Securities Exchange "How I Became a Quant should be must reading for all students with a quantitative aptitude. It provides fascinating examples of the dynamic career opportunities potentially open to anyone with the skills and passion for quantitative analysis." --Roy D. Henriksson, Chief Investment Officer, Advanced Portfolio Management "Quants"--those who design and implement mathematical models for the pricing of derivatives, assessment of risk, or prediction of market movements--are the backbone of today's investment industry. As the greater volatility of current financial markets has driven investors to seek shelter from increasing uncertainty, the quant revolution has given people the opportunity to avoid unwanted financial risk by literally trading it away, or more specifically, paying someone else to take on the unwanted risk. How I Became a Quant reveals the faces behind the quant revolution, offering you?the?chance to learn firsthand what it's like to be a?quant today. In this fascinating collection of Wall Street war stories, more than two dozen quants detail their roots, roles, and contributions, explaining what they do and how they do it, as well as outlining the sometimes unexpected paths they have followed from the halls of academia to the front lines of an investment revolution.
Download or read book Going Public written by Tim Jenkinson and published by Oxford University Press, USA. This book was released on 2001 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Going Public investigates why companies routinely underprice themselves as they try to list themselves on the stock exchange. They subsequently underperform over the long-term and, in Going Public, the authors explore these 2 phenomena in plain English.
Book Synopsis U.S. Regulation of the International Securities and Derivatives Markets by :
Download or read book U.S. Regulation of the International Securities and Derivatives Markets written by and published by Aspen Law & Business Publishers. This book was released on 2002 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The International Handbook of Shipping Finance by : Manolis G. Kavussanos
Download or read book The International Handbook of Shipping Finance written by Manolis G. Kavussanos and published by Springer. This book was released on 2016-11-10 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Handbook of Shipping Finance is a one-stop resource, offering comprehensive reference to theory and practice in the area of shipping finance. In the multibillion dollar international shipping industry, it is important to understand the various issues involved in the finance of the sector. This involves the identification and evaluation of the alternative sources of capital available for financing the ships, including the appraisal and budgeting of shipping investment projects; legal and insurance aspects of ship finance; the financial analysis and modelling of investment projects; mergers and acquisitions; and the commercial and market risk management issues involved. Edited by two leading academics in this area, and with contributions from 25 prominent market practitioners and academics over 16 chapters, this Handbook covers shipping finance and banking, maritime financial management and investments. As such, it includes: shipping markets; asset backed finance; shipbuilding finance; debt finance; public and private equity and debt markets; structured finance; legal aspects and key clauses of ship mortgages; marine insurance; mechanisms for handling defaulted loans; investment appraisal and capital budgeting; financial analysis and investment modelling; business risk management and freight derivatives; and mergers and acquisitions. Thus, the Handbook offers a rigorous understanding of the different aspects of modern shipping finance and maritime financial management and investments, the various characteristics of the available products, the capital needs and requirements, and a clear view on the different financial management strategies through a series of practical examples and applications. Technical where appropriate, but grounded in market reality, this is a “must-have” reference for anyone involved in shipping finance, from bank practitioners and commodity trading houses, to shipbrokers, lawyers and insurance houses as well as to university students studying shipping finance. Table of Contents Preface by Editors Manolis Kavussanos, Professor, Director, MSc in International Shipping, Finance and Management, Athens University of Economics and Business, Greece Ilias Visvikis, Professor, Director Executive Education and Professional Development, World Maritime University, Sweden Chapter 1: Shipping Markets and their Economic Drivers Jan-Henrik Huebner, Head of Shipping Advisory, DNV GL, Germany Chapter 2: Asset Risk Assessment, Analysis and Forecasting in Asset Backed Finance Henriette Brent Petersen, Head of Shipping & Offshore Research, DVB Bank SE, The Netherlands Chapter 3: Overview of Ship Finance Fotis Giannakoulis, Research Vice President, Morgan Stanley, USA Chapter 4: Shipbuilding Finance Charles Cushing, C.R. Cushing & Co. Inc., USA Chapter 5: Debt Financing in Shipping George Paleokrassas, Partner, Watson, Farley & Williams, Greece Chapter 6: Public Debt Markets for Shipping Basil Karatzas, Founder & CEO, Karatzas Marine Advisors & Co., USA Chapter 7: Public and Private Equity Markets Jeffrey Pribor, Global Head, Maritime Investment Banking, Jefferies LLC, USA Cecilie Lind, Associate Investment Banking, Jefferies LLC, USA Chapter 8: Structured Finance in Shipping Contributor: Ioannis Alexopoulos, Director, Shipping Financier, Eurofin Group, Greece Nikos Stratis, Managing Director of Augustea Group, UK Chapter 9: Key Clauses of a Shipping Loan Agreement Kyriakos Spoullos, Solicitor, Norton Rose Fulbright, Greece Chapter 10: Legal Aspects of Ship Mortgages Simon Norton, Lecturer, Cardiff Business School, UK Claudio Chistè, Investec Bank Plc., UK Chapter 11: Reasons and Mechanics of Handling Defaulted Shipping Loans and Methods of Recovery Dimitris Anagnostopoulos, Board Member & Director, Aegean Baltic Bank, Greece Philippos Tsamanis, VP - Head of Shipping, Aegean Baltic Bank, Greece Chapter 12: Marine Insurance Marc Huybrechts, Professor, University of Antwerp, Belgium Theodora Nikaki, Associate Professor, Swansea University, UK Chapter 13: Maritime Investment Appraisal and Budgeting Wolfgang Drobetz, Professor, University of Hamburg, Germany Stefan Albertijn, CEO, HAMANT Beratungs-und Investitions GmbH, Germany Max Johns, Managing Director, German Shipowners’ Association, Germany Chapter 14: Financial Analysis and Modelling of Ship Investments Lars Patterson, Shipping Investment Analyst, Pacomarine Limited, UK Chapter 15: Maritime Business Risk Management Manolis Kavussanos, Professor, Director, MSc in International Shipping, Finance and Management, Athens University of Economics and Business, Greece Ilias Visvikis, Professor, Director Executive Education and Professional Development, World Maritime University, Sweden Chapter 16: Mergers and Acquisitions in Shipping George Alexandridis, Associate Professor, ICMA Centre, University of Reading, UK Manish Singh, Manish Singh, Group Director - Strategy and M&A, V. Group Limited, UK
Book Synopsis The Handbook of Electronic Trading by : Joseph Rosen
Download or read book The Handbook of Electronic Trading written by Joseph Rosen and published by . This book was released on 2009-06-18 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive look at the challenges of keeping up with liquidity needs and technology advancements. It is also a sourcebook for understandable, practical solutions on trading and technology.
Book Synopsis Confronting the Challenges of Participatory Culture by : Henry Jenkins
Download or read book Confronting the Challenges of Participatory Culture written by Henry Jenkins and published by MIT Press. This book was released on 2009-06-05 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many teens today who use the Internet are actively involved in participatory cultures—joining online communities (Facebook, message boards, game clans), producing creative work in new forms (digital sampling, modding, fan videomaking, fan fiction), working in teams to complete tasks and develop new knowledge (as in Wikipedia), and shaping the flow of media (as in blogging or podcasting). A growing body of scholarship suggests potential benefits of these activities, including opportunities for peer-to-peer learning, development of skills useful in the modern workplace, and a more empowered conception of citizenship. Some argue that young people pick up these key skills and competencies on their own by interacting with popular culture; but the problems of unequal access, lack of media transparency, and the breakdown of traditional forms of socialization and professional training suggest a role for policy and pedagogical intervention. This report aims to shift the conversation about the "digital divide" from questions about access to technology to questions about access to opportunities for involvement in participatory culture and how to provide all young people with the chance to develop the cultural competencies and social skills needed. Fostering these skills, the authors argue, requires a systemic approach to media education; schools, afterschool programs, and parents all have distinctive roles to play. The John D. and Catherine T. MacArthur Foundation Reports on Digital Media and Learning
Book Synopsis Rich Dad's Guide to Investing by : Robert T. Kiyosaki
Download or read book Rich Dad's Guide to Investing written by Robert T. Kiyosaki and published by Business Plus. This book was released on 2001-01-15 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rich Dad's Guide to Investing is a guide to understanding the real earning power of money by learning some of the investing secrets of the wealthy.
Book Synopsis A History of the Theory of Investments by : Mark Rubinstein
Download or read book A History of the Theory of Investments written by Mark Rubinstein and published by John Wiley & Sons. This book was released on 2011-09-02 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This exceptional book provides valuable insights into the evolution of financial economics from the perspective of a major player." -- Robert Litzenberger, Hopkinson Professor Emeritus of Investment Banking, Univ. of Pennsylvania; and retired partner, Goldman Sachs A History of the Theory of Investments is about ideas -- where they come from, how they evolve, and why they are instrumental in preparing the future for new ideas. Author Mark Rubinstein writes history by rewriting history. In unearthing long-forgotten books and journals, he corrects past oversights to assign credit where credit is due and assembles a remarkable history that is unquestionable in its accuracy and unprecedented in its power. Exploring key turning points in the development of investment theory, through the critical prism of award-winning investment theory and asset pricing expert Mark Rubinstein, this groundbreaking resource follows the chronological development of investment theory over centuries, exploring the inner workings of great theoretical breakthroughs while pointing out contributions made by often unsung contributors to some of investment's most influential ideas and models.
Book Synopsis Glosario Del Banco Mundial by : World Bank
Download or read book Glosario Del Banco Mundial written by World Bank and published by World Bank Publications. This book was released on 1996 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of the World Bank has been revised and expanded by the Terminology Unit in the Languages Services Division of the World Bank in collaboration with the English, Spanish, and French Translation Sections. The Glossary is intended to assist the Bank's translators and interpreters, other Bank staff using French and Spanish in their work, and free-lance translator's and interpreters employed by the Bank. For this reason, the Glossary contains not only financial and economic terminology and terms relating to the Bank's procedures and practices, but also terms that frequently occur in Bank documents, and others for which the Bank has a preferred equivalent. Although many of these terms, relating to such fields as agriculture, education, energy, housing, law, technology, and transportation, could be found in other sources, they have been assembled here for ease of reference. A list of acronyms occurring frequently in Bank texts (the terms to which they refer being found in the Glossary) and a list of international, regional, and national organizations will be found at the end of the Glossary.
