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Underpricing Und Langfristige Performance Der IPOs Am Neuen Markt: Eine Oekonometrische Analyse Fuer Den Zeitraum Von 1997 Bis 2003

Underpricing Und Langfristige Performance Der IPOs Am Neuen Markt: Eine Oekonometrische Analyse Fuer Den Zeitraum Von 1997 Bis 2003

          
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About the Book

Die Arbeit behandelt vier zentrale Fragestellungen im Zusammenhang mit IPOs: Erstens wird untersucht, ob und wenn ja, wie ausgeprägt das Underpricing-Phänomen am Neuen Markt in den Jahren zwischen 1997 und 2003 war. Zweitens wird empirisch untersucht, ob bei den IPOs am Neuen Markt eine systematische negative langfristige Performance festgestellt werden kann (long-run underperformance). Dazu wird die Performance der IPO-Unternehmen des Neuen Marktes über einen Zeitraum von bis zu 24 Monaten nach dem Börsengang untersucht. Drittens wird anhand der empirischen Ergebnisse zum Underpricing und zur langfristigen Performance eine Aussage über die Informationseffizienz des Neuen Marktes abgeleitet. Insbesondere wird dabei die Frage beantwortet, ob der Primärmarkt oder aber der Sekundärmarkt informationseffizient im Sinne von Fama (1970) und Jensen (1978) war. Letztlich werden mit Hilfe von ökonometrischen Analysemethoden die theoretischen Erklärungsansätze zum Underpricing-Phänomen auf deren Relevanz für das Underpricing am Neuen Markt untersucht. Dadurch soll die Frage beantwortet werden, welche Erklärungsmodelle den höchsten Erklärungsgehalt für das Underpricing-Phänomen besitzen.


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Product Details
  • ISBN-13: 9783631527818
  • Publisher: Peter Lang Gmbh, Internationaler Verlag Der W
  • Binding: Paperback
  • Height: 210 mm
  • No of Pages: 348
  • Series Title: Europaeische Hochschulschriften / European University Studie
  • Sub Title: Eine Oekonometrische Analyse Fuer Den Zeitraum Von 1997 Bis 2003
  • Width: 148 mm
  • ISBN-10: 3631527810
  • Publisher Date: 10 Jun 2004
  • Edition: New edition
  • Language: German
  • Returnable: N
  • Spine Width: 0 mm
  • Weight: 471 gr


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Underpricing Und Langfristige Performance Der IPOs Am Neuen Markt: Eine Oekonometrische Analyse Fuer Den Zeitraum Von 1997 Bis 2003
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Underpricing Und Langfristige Performance Der IPOs Am Neuen Markt: Eine Oekonometrische Analyse Fuer Den Zeitraum Von 1997 Bis 2003
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