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Initial Public Offerings (IPO)
book

Initial Public Offerings (IPO)

by Greg N. Gregoriou
December 2005
Intermediate to advanced content levelIntermediate to advanced
464 pages
23h 14m
English
Butterworth-Heinemann
Content preview from Initial Public Offerings (IPO)
all style categories, we model holding period returns as a function of three risk factors
and three dummy variables representing the styles of IPOs identified, within a multi-
variate framework.
2.4 Empirical evidence
2.4.1 Returns to value and growth styles
The estimates in Table 2.2(A) show that value portfolios gain while growth stocks
suffer a loss after a year of flotation and that the excess returns between them differ
significantly. However, the differences in holding period excess returns become
insignificant if the portfolios are held for more than a year, especially because the
value stocks’ returns decline and start generating a loss after ...
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Publisher Resources

ISBN: 9780750679756