کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7357164 | 1478427 | 2018 | 41 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Initial public offerings on the UK when-issued market
ترجمه فارسی عنوان
ارائه عمومی اولیه در انگلستان زمانی که صادر شده بازار است
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
کسب و کار و مدیریت بین المللی
چکیده انگلیسی
We examine the determinants of an IPO firm's decision to trade on a when-issued market and find that better quality firms are more likely to trade on this market. Our 'what-if' analysis shows that for companies that choose to have when-issued trading, the actual offer price is almost 26% higher than it would have been had these firms chosen not to trade on this market. We interpret this higher offer price as a 'rent' that investors pay to acquire shares of such companies. We also show that the informational accuracy of the UK when-issued market is better than that of continental European when-issued markets.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Corporate Finance - Volume 49, April 2018, Pages 1-14
Journal: Journal of Corporate Finance - Volume 49, April 2018, Pages 1-14
نویسندگان
Arif Khurshed, Dimitris Kostas, Abdulkadir Mohamed, Brahim Saadouni,