Hot issues, new economy stocks and Australian industry IPO returns in the late 1990s
journal contribution
posted on 2004-01-01, 00:00authored byR Brooks, Bill Dimovski
This paper analyses Australian IPOs at an industry level for the period 1994 to 1999. We find a significant relationship between capital weighted IPO industry returns and contemporaneous index returns suggesting that capital raising and money left on the table arguments matter. We do not find any hot issue years at an industry level. Further at an industry level we find that new economy listings are not different to listings from other sectors of the economy.
History
Journal
International journal of knowledge, culture and change management
Volume
3
Pagination
1 - 4
Publisher
Common Ground Publishing
Location
Altona, Vic.
ISSN
1447-9524
eISSN
1447-9575
Language
eng
Notes
Reproduced with the specific permission of the copyright owner.
Publication classification
C1 Refereed article in a scholarly journal; C Journal article