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A duration analysis of the time from prospectus to listing for Australian initial public offerings

Brooks, Robert, Fry, Tim, Dimovski, William and Mihajilo, Sandra 2009, A duration analysis of the time from prospectus to listing for Australian initial public offerings, Applied financial economics, vol. 19, no. 3, pp. 183-190.

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Title A duration analysis of the time from prospectus to listing for Australian initial public offerings
Author(s) Brooks, Robert
Fry, Tim
Dimovski, William
Mihajilo, Sandra
Journal name Applied financial economics
Volume number 19
Issue number 3
Start page 183
End page 190
Total pages 8
Publisher Routledge
Place of publication London, England
Publication date 2009-02
ISSN 0960-3107
1466-4305
0003-6846
1350-4851
Summary A finding of the Australian Initial Public Offerings (IPOs) literature is that the time from prospectus registration to listing is related to the level of informed demand. This makes the understanding of time to listing an important matter. This study analyses the time to listing for 834 IPOs in Australia over the period 1994 to 2004. The study finds that a shorter time to listing is associated with higher issue prices, and the use of an underwriter or Big 5 independent accountant. In contrast, IPOs offering share options take longer to list. The significant role of variables associated with the degree of certainty about a listing is consistent with informed demand hypotheses about the time to listing.
Language eng
Field of Research 150201 Finance
Socio Economic Objective 900101 Finance Services
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2009
Copyright notice ©2009, Taylor & Francis
Persistent URL http://hdl.handle.net/10536/DRO/DU:30016652

Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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Created: Thu, 09 Jul 2009, 14:45:04 EST by Lee-Ann Stones