IPO-mechanisms, monitoring and ownership structure

Article Abstract:

The ownership structure of the offering party appears to be a major determinant of the value of a firm's initial public offering (IPO). Moreover, the positive externality being experienced by minor investors derived from the monitoring activities of large investors results to optimal rationing. However, adoption of a negotiated offer schedule between the large investors and underwriter is a prerequisite in the accomplishment of rationing process. In addition, a more underpriced IPO is required when regulations necessitate active involvement from small investors.

Capital Management-Stock Sales, Models, Going public (Securities), Initial public offerings, Rationing, Stock offerings

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The effect of changes in ownership structure on performance: evidence from the thrift industry

Article Abstract:

A study was conducted to analyze the stock price performance and ownership structure of thrift institutions that decided to convert from mutual to stock ownership. Results indicated that firm performance were significantly improved after conversion and and expiration of ownership-structure restrictions. Findings also showed that changes in performance correlated with changes in ownership by managers. In addition, changes in ownership by employee stock ownership plans were negatively associated with performance.

Management Dynamics NEC, Antimerger Strategy, Employee-Owned Corps, Research, Management research, Employee ownership, Management techniques, Employee stock ownership plans, Corporate anti-takeover measures, Antitakeover strategies

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Institutions, ownership, and finance: the determinants of profit reinvestment among Chinese firms

Article Abstract:

A case study of China analyzing the significance of property rights and foreign investments in the reinvestments by a firm is presented. The role financial institutions that support the market is also analyzed.

China, Services information, Financial Corporations, Case studies, Foreign investments, Economic aspects, Services, Financial institutions, Right of property, Property rights

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