sample of 20 pre-peak versus 20 post-peak issues appears similar. A possible reason
for this could be that our sample cut in 30 July 2000 does not represent a clear
change point in the long-run performance, which may change more gradually in time.
Thus, other sample selection and an examination of the full sample plus additional
statistical testing would be needed to further address long-run performance.
1.5Conclusion
The question of the present contribution addresses differences in IPO stock market
regimes. In examining the 2000 to 2002 period, differences in initial issuance market
regimes were investigated. At this point hypotheses and issues for ...
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