Post-IPO directors' sales and reissuing activity: an empirical test of IPO signalling models
Article Abstract:
The undervaluing of new issues in many financial markets worldwide is a phenomenon which apparently contradicts stock market efficiency. A suggested explanation for this phenomenon is that the initial owners of high-quality firms signal their positive data about firm value to uninformed investors by underpricing and retaining shares in an initial public offering (IPO). A study was done to evaluate signalling models by analyzing both post-IPO share offerings by IPO firms and insiders' sales of shares after the IPO using data on all UK firms which held an IPO between 1986 and 1991.
Publication Name: Journal of Business Finance and Accounting
Subject: Business
ISSN: 0306-686X
Year: 1998
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The transmission of pricing information of dually-listed stocks
Article Abstract:
Pricing information transmission of dually-listed stocks is examined.
Publication Name: Journal of Business Finance and Accounting
Subject: Business
ISSN: 0306-686X
Year: 1999
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