Underpricing and firm quality in initial public offerings: evidence from Singapore

Article Abstract:

Initial public offering (IPO) on the Stock Exchange of Singapore is done in two ways, namely the fixed method where the issuing firms decide on a single issue price and the tender method where the issuing firm's offering price is determined by bids of potential investors. It is observed that most IPO firms that are into tender pricing are those who have better track records and have been in the business longer. Furthermore, the prevalence of underpricing is noted in companies using the fixed IPO method.

Securities & Commodities Exchanges, Capital Management-Stock Sales, Going public (Securities), Initial public offerings, Singapore Exchange Securities Trading Ltd., Stock offerings

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Rational early exercise of equity and index options: the impact of market frictions

Article Abstract:

The effect of market frictions on the early exercise of equity and index options is investigated. Two types of irrational behavior are identified: Type I, exercise when it is not rational to do so, and Type II, failure to exercise when it is rational. Results show that clientele impact among holders and writers of the different option classes leads to varied call and put option practices.

Analysis, Management, Stocks, Exchanges, Options (Finance), Stock index options

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The reversal of the Monday effect: new evidence from US equity markets

Article Abstract:

From 1964 to 1987, Monday stock returns in all indexes are negative. From 1987 to 1999, in two large-cap indexes, Monday returns have been positive; while the different results obtain in small-cap indexes.

Statistical Data Included, Stock exchanges, Seasonal variations (Economics)

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