کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5075339 | 1373899 | 2010 | 16 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The influence of the underwriting syndicate on the valuation of Spanish initial public offerings
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موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
کسب و کار و مدیریت بین المللی
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چکیده انگلیسی
The aim of this paper is to analyze the role of the underwriting syndicate in relation to firms that went public on the Madrid Stock Exchange between 1985 and 2004. The sample time frame chosen, which covers a period of twenty years, allows us to analyze the evolution of the role of the underwriting syndicate in valuation and information production throughout the process of going public in the case of the Spanish stock market. The results obtained provide evidence that the forming of larger underwriting syndicates leads to a better valuation of the offered titles. Likewise, in light of the results obtained, less underpricing is observed for those IPOs whose final offering price has been upwardly revised from the registration statement.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Global Finance Journal - Volume 21, Issue 3, 2010, Pages 223-238
Journal: Global Finance Journal - Volume 21, Issue 3, 2010, Pages 223-238
نویسندگان
Susana Alvarez, Rubén Arrondo,