The Expiration of IPO-Lockup Periods

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Author :
Publisher : GRIN Verlag
ISBN 13 : 3346247422
Total Pages : 29 pages
Book Rating : 4.3/5 (462 download)

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Book Synopsis The Expiration of IPO-Lockup Periods by : Oliver Terhechte

Download or read book The Expiration of IPO-Lockup Periods written by Oliver Terhechte and published by GRIN Verlag. This book was released on 2020-09-16 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2020 in the subject Business economics - Investment and Finance, grade: 1.3, University of Mannheim, language: English, abstract: This paper analyses the expiration of IPO-lockup periods and its affects on stock returns using event study methodology. The study focuses on 5,171 IPOs with lockup agreements in the U.S. market between 1988 and 2018. Significant differences in cumulative abnormal returns due to various firm characteristics are explored. This thesis is largely based on the paper of Field and Hanka (2001) and assesses whether the expiration of lockup periods results in abnormal returns and daily trading volume. For this purpose, an event study for 3,306 lockup agreements of IPOs over a 31-year period from 1988 until 2018 is performed. The sample is limited to the United States as the newly listed firms' domicile nation. The changes in daily trading volume around the expiration date of the lockup are also analysed. Moreover, the paper examines the length of the agreed lockup periods and whether tech firms react differently to the expiration from firms in other industries.

Going Public

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Author :
Publisher : Oxford University Press, USA
ISBN 13 : 9780198295990
Total Pages : 264 pages
Book Rating : 4.2/5 (959 download)

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Book Synopsis Going Public by : Tim Jenkinson

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.

Cornerstone Investors

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Author :
Publisher : Hong Kong University Press
ISBN 13 : 9888455842
Total Pages : 257 pages
Book Rating : 4.8/5 (884 download)

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Book Synopsis Cornerstone Investors by : Philippe Espinasse

Download or read book Cornerstone Investors written by Philippe Espinasse and published by Hong Kong University Press. This book was released on 2018-01-04 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this groundbreaking guide, former investment banker Philippe Espinasse explains the process of gathering cornerstone investors in connection with IPOs and other equity offerings. Using his trademark simple and jargon-free language, he details the targeting strategies, documentation, marketing, and allocation of shares and other securities to these reference shareholders, and analyses why and how they make or break today’s new listings across Asia’s key markets. This essential guide—and the first of its kind—contains key information on the legal framework for cornerstone investors in Hong Kong, Malaysia, and Singapore, and offers practical advice on how best to structure and conduct a cornerstone investor offering. It also discusses some of the more controversial issues associated with the practice of cornerstone investment and includes many real-life examples of cornerstone deals, sample documents, cornerstone investor profiles, an investor target list, and a comprehensive glossary. ‘There is no better person to shed light on the opaque world of cornerstone investing in Asian IPOs. Philippe Espinasse writes clearly, substantively, and expertly.’ —Jasper Moiseiwitsch, Asia companies and markets news editor, Financial Times ‘As engaging as it is informative. Espinasse has cut through legalese and jargon to create a pragmatic overview of this widely misunderstood, and distinctly Asian, investment banking concept. Packed with recent examples, this book doesn’t just teach you about cornerstones; it also provides an insider’s take of the region’s capital markets hubs.’ —Danielle Myles, capital markets editor, The Banker ‘Cornerstone investors have taken centre stage in Hong Kong’s IPO market. This book is needed now more than ever.’ —Matthew Thomas, Asia bureau chief, Euromoney Institutional Investor

Pricing and Profitability Management

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 047082705X
Total Pages : 256 pages
Book Rating : 4.4/5 (78 download)

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Book Synopsis Pricing and Profitability Management by : Julie Meehan

Download or read book Pricing and Profitability Management written by Julie Meehan and published by John Wiley & Sons. This book was released on 2011-06-28 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The practical guide to using pricing and profitability management to build a better business A comprehensive reference for any business professional looking to understand the capabilities and competencies required for effectively managing pricing and profitability, Pricing and Profitability Management explains how to determine the right approach, tools, and techniques for each of six key categories (pricing strategy, price execution, advanced analytics and optimization, organizational alignment and governance, pricing technology and data management, and tax and regulatory effectiveness). Exploring each category in detail, the book addresses how an integrated approach to pricing improvement can give a sustainable, competitive advantage to any organization. The ultimate "how to" manual for any executive or manager interested in price management, the book presents a holistic, comprehensive framework that shows how integrating these pricing categories into a cohesive program leads to impressive gains that cannot be achieved through a single-pronged approach. Presents a comprehensive framework for more effectively managing pricing and profitability Identities the six key categories of pricing and profitability management Shows you how to gain a competitive edge by managing pricing and profitability Taking a comprehensive view of pricing, companies can position themselves to tap a vast source of shareholder value—the ability to set and enforce profitable prices, not just once, but again and again in response to marketplace changes and evolving business needs—and this book will show you how.

The Oxford Handbook of Entrepreneurial Finance

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Author :
Publisher : OUP USA
ISBN 13 : 0195391241
Total Pages : 937 pages
Book Rating : 4.1/5 (953 download)

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Book Synopsis The Oxford Handbook of Entrepreneurial Finance by : Douglas Cumming

Download or read book The Oxford Handbook of Entrepreneurial Finance written by Douglas Cumming and published by OUP USA. This book was released on 2012-03-22 with total page 937 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a comprehensive picture of issues dealing with different sources of entrepreneurial finance and different issues with financing entrepreneurs. The Handbook comprises contributions from 48 authors based in 12 different countries.

Handbook of Research on IPOs

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 : 1781955379
Total Pages : 599 pages
Book Rating : 4.7/5 (819 download)

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Book Synopsis Handbook of Research on IPOs by : Mario Levis

Download or read book Handbook of Research on IPOs written by Mario Levis and published by Edward Elgar Publishing. This book was released on 2013-11-29 with total page 599 pages. Available in PDF, EPUB and Kindle. Book excerpt: The chapters offer some important new insights into issues that will be of interest not only to the academic community but also to professionals involved in the preparation, structure and execution of such transactions, market regulators, and private a

Initial Public Offerings

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Author :
Publisher :
ISBN 13 : 9781680833416
Total Pages : 166 pages
Book Rating : 4.8/5 (334 download)

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Book Synopsis Initial Public Offerings by : Michelle Lowry

Download or read book Initial Public Offerings written by Michelle Lowry and published by . This book was released on 2017 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this monograph is to provide an overview of the IPO literature since 2000. The fewer numbers of companies going public in recent years has raised many questions regarding the IPO process, in both academic and regulatory circles. As we all strive to understand these changes in the market, it is especially important to understand the dynamics underlying the IPO process. If the process of going public is too costly or the IPO mechanism is plagued by too many conflicts of interest among the various intermediaries, then private companies may rationally choose other methods of raising capital. In a related vein, it is imperative that new regulations not be based on research focusing solely on large, more mature firms. Newly public firms have unique characteristics, and an increased understanding of such issues will contribute positively to well-functioning public markets and further growth of the entrepreneurial sector. We also provide a detailed guide to researchers on how to obtain a research-quality sample of IPOs, from standard data sources. Related to this, we tabulate important corrections to these standard data sources.

IPOs and Equity Offerings

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Author :
Publisher : Elsevier
ISBN 13 : 0080478786
Total Pages : 273 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis IPOs and Equity Offerings by : Ross Geddes

Download or read book IPOs and Equity Offerings written by Ross Geddes and published by Elsevier. This book was released on 2003-06-06 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: An initial public offering (IPO) is one of the most significant events in corporate life. It follows months, even years of preparation. During the boom years of the late 1990s bull market, IPOs of growth companies captured the imagination and pocketbooks of investors like never before. This book goes behind the scenes to examine the process of an offering from the decision to go public to the procedures of a subsequent equity offering. The book is written from the perspective of an experienced investment banker describing the hows and whys of IPOs and subsequent equity issues. Each aspect of an IPO is illustrated with plenty of international examples pitched alongside relevant academic research to offer a combination of theoretical rigour and practical application. Topics covered are: - the decision to go public- legal and regulatory aspects of an offering; marketing and research- valuation and pricing- allocations of shares to investors - examination of fees and commissions* Global perpective: UK, European and US practices, regulations and examples, and case studies* First hand experience written by an IPO trader with academic rigour* Includes the changes in the market that resulted from 1998-2000 equity boom

Essays in Financial Economics

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Author :
Publisher : Emerald Group Publishing
ISBN 13 : 1789733898
Total Pages : 167 pages
Book Rating : 4.7/5 (897 download)

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Book Synopsis Essays in Financial Economics by : Rita Biswas

Download or read book Essays in Financial Economics written by Rita Biswas and published by Emerald Group Publishing. This book was released on 2019-10-24 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, dedicated to John W. Kensinger, explores a variety of topics in financial economics, including firm growth, investment risks, and the profitability of the banking industry. With its global perspective, Essays in Financial Economics is a valuable addition to the bookshelf of any researcher in finance.

The IPO Decision

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 : 9781781008782
Total Pages : 400 pages
Book Rating : 4.0/5 (87 download)

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Book Synopsis The IPO Decision by : Jason Draho

Download or read book The IPO Decision written by Jason Draho and published by Edward Elgar Publishing. This book was released on 2004-01-01 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation Initial public offerings (IPOs) garnered unprecedented positive attention in the 1990s for their spectacular returns and central role in entrepreneurial activity. Subsequent revelations of unscrupulous IPO allocation and promotion practices cast a less fa.

Pricing and Performance of Initial Public Offerings in the United States

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Author :
Publisher : Routledge
ISBN 13 : 1351496743
Total Pages : 156 pages
Book Rating : 4.3/5 (514 download)

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Book Synopsis Pricing and Performance of Initial Public Offerings in the United States by : Arvin Ghosh

Download or read book Pricing and Performance of Initial Public Offerings in the United States written by Arvin Ghosh and published by Routledge. This book was released on 2017-07-05 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this timely volume on newly emerging financial mar- kets and investment strategies, Arvin Ghosh explores the intriguing topic of initial public offerings (IPOs) of securities, among the most significant phenomena in the United States stock markets in recent years. Before the 2000-2001 market turndown, hardly a week went by when more than a few companies did not become public, either in the organized stock exchange or in the Over the Counter (OTC) market. In the often over-burdened, technology-heavy Nasdaq market, the role of IPOs was crucial for the market's new vigor and growth. Internet stocks were able to find a mode to supply key momentum to the market. In the so-called "New Economy" of the 1990s, it was the seductively accessible IPO that ushered in the world's information technology revolution.Ghosh sets out to examine the pricing and financial performance of IPOs in the United States during the period 1990-2001. In the opening chapter he discusses the rise and fall of IPOs in the preceding decade. Chapter 2 further delineates the IPO process from the start of the prospectus to the end of the "quiet period" and aftermarket stabilization. In chapter 3 Ghosh analyzes the mispricing and deliberately deceptive underpricing, or "flipping," of Internet IPOs. Chapter 4 delves deeper into the pricing and operating efficiency of Nasdaq IPOs. Chapter 5 analyzes the pricing and long-run performance of IPOs both in the New York Stock Exchange and in the Nasdaq markets. In chapters 6 and 7 the author deals with the pricing and performance of the venture-blocked and nonventure-backed IPOs in general and Internet IPOs in particular. In chapter 8 he analyzes the role of underwriters as market makers. In chapter 9 Ghosh discusses the accuracy of analysts' earnings forecasts. In the concluding chapter, he summarizes the principal findings of the study and the recent revival of the IPO market and its place in capital formation as well as the latest developments in t

Beyond the Random Walk

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Author :
Publisher : Financial Management Association Survey and Synthesis Series
ISBN 13 : 0195304225
Total Pages : 369 pages
Book Rating : 4.1/5 (953 download)

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Book Synopsis Beyond the Random Walk by : Vijay Singal

Download or read book Beyond the Random Walk written by Vijay Singal and published by Financial Management Association Survey and Synthesis Series. This book was released on 2006 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: In an efficient market, all stocks should be valued at a price that is consistent with available information. But as financial expert Singal points out, there are circumstances under which certain stocks sell at a price higher or lower than the right price. Here he discusses ten such anomalous prices and shows how investors might--or might not--be able to exploit these situations for profit.

Handbook of Short Selling

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Author :
Publisher : Academic Press
ISBN 13 : 0123877253
Total Pages : 625 pages
Book Rating : 4.1/5 (238 download)

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Book Synopsis Handbook of Short Selling by :

Download or read book Handbook of Short Selling written by and published by Academic Press. This book was released on 2011-08-31 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive examination of short selling, which is a bet on stocks declining in value, explores the ways that this strategy drives financial markets. Its focus on short selling by region, its consideration of the history and regulations of short selling, and its mixture of industry and academic perspectives clarify the uses of short selling and dispel notions of its destructive implications. With contributions from around the world, this volume sheds new light on the ways short selling uncovers market forces and can yield profitable trades. - Combines academic and professional research on short selling in all major financial markets - Emphasizes details about strategies, implementations, regulation, and tax advantages - Chapters provide summaries for readers who want up-to-date maps of subject landscapes

The Phenomenon of IPO Underpricing in the European and U.S. Stock Markets

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Author :
Publisher : diplom.de
ISBN 13 : 3954897954
Total Pages : 102 pages
Book Rating : 4.9/5 (548 download)

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Book Synopsis The Phenomenon of IPO Underpricing in the European and U.S. Stock Markets by : Oliver Reiche

Download or read book The Phenomenon of IPO Underpricing in the European and U.S. Stock Markets written by Oliver Reiche and published by diplom.de. This book was released on 2014-06-01 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Initial Public Offering (IPO) marks one of the most important events of a company. Basically, the aim is to generate maximum proceeds by selling the company’s shares to investors. However, the shares that are sold seem to be underpriced as the price significantly soars on the first trading day. Since the very first detection of this phenomenon in the United States in 1969, several subsequent studies have documented the existence of worldwide IPO underpricing. This study focuses on IPO Underpricing in the European and United States Stock Markets by outlining and discussing the following essential issues: What is underpricing in the context of the IPO? Which motivations are there and how do they impact? Is there IPO underpricing in the markets of Europe and the United States of America?

Capital Markets and Securities FAQs

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Author :
Publisher : Morrison & Foerster LLP
ISBN 13 : 0988706407
Total Pages : 597 pages
Book Rating : 4.9/5 (887 download)

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Book Synopsis Capital Markets and Securities FAQs by :

Download or read book Capital Markets and Securities FAQs written by and published by Morrison & Foerster LLP. This book was released on with total page 597 pages. Available in PDF, EPUB and Kindle. Book excerpt: FAQs. FAQs (or Frequently Asked Questions), written and published by lawyers at Morrison & Foerster LLP, a leading capital markets firm (www.mofo.com), provides plain English explanations of the most popular types of financing or capital formation transactions, as well as explanations relating to related securities law issues. Written for practitioners, entrepreneurs, start-ups, public companies, investors, bankers and other financial intermediaries, and compliance professionals, FAQs avoids lawyer and banker jargon and provides clear and concise discussions that answer the questions most commonly asked in connection with securities offerings and ongoing securities reporting requirements. You will find discussions about IPOs, Rule 144A, PIPE transactions, Regulation S, Medium-Term Note Programs, Shelf Registration Statements, Foreign Private Issuers and much, much more. The FAQs are organized in a user-friendly way, with a table of contents for each set of FAQs, so you can jump to particular questions (and answers) within a topic area, or search the book to find answers to your questions. For more information about Morrison & Foerster’s Capital Markets Practice, visit www.mofo.com/capital-markets-services/. For more updates, follow Thinkingcapmarkets, our Twitter feed: www.twitter.com/thinkingcapmkts.

Accounting and Valuation Guide

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 1119663342
Total Pages : 692 pages
Book Rating : 4.1/5 (196 download)

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Book Synopsis Accounting and Valuation Guide by : AICPA

Download or read book Accounting and Valuation Guide written by AICPA and published by John Wiley & Sons. This book was released on 2019-09-16 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developed for preparers of financial statements, independent auditors, and valuation specialists, this guide provides nonauthoritative guidance and illustrations regarding the accounting for and valuation of portfolio company investments held by investment companies within the scope of FASB ASC 946, Financial Services —Investment Companies, (including private equity funds, venture capital funds, hedge funds, and business development companies). It features16 case studies that can be used to reason through real situations faced by investment fund managers, valuation specialists and auditors, this guide addresses many accounting and valuation issues that have emerged over time to assist investment companies in addressing the challenges in estimating fair value of these investments, such as: Unit of account Transaction costs Calibration The impact of control and marketability Backtesting

Private Equity

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Author :
Publisher : John Wiley and Sons
ISBN 13 : 0470579552
Total Pages : 628 pages
Book Rating : 4.4/5 (75 download)

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Book Synopsis Private Equity by : Douglas Cumming

Download or read book Private Equity written by Douglas Cumming and published by John Wiley and Sons. This book was released on 2009-12-31 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive look at the private equity arena With private equity differing from other asset classes, it requires a whole new approach for those trained in more traditional investments such as stocks and bonds. But with the right guidance, you can gain a firm understanding of everything private equity has to offer. This reliable resource provides a comprehensive view of private equity by describing the current state of research and best practices in this arena. Issues addressed include the structure of private equity funds and fundraising, the financial and real returns of private equity, and the structure of private equity investments with investees, to name a few. Discusses the role of private equity in today's financial environment Provides international perspectives on private equity Details the regulation of private equity markets Filled with in-depth insights and expert advice, this book will provide you with a better understanding of private equity structures and put you in a better position to measure and analyze their performance.