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dc.contributor.authorNippel, Peteren_US
dc.contributor.authorPierdzioch, Christianen_US
dc.contributor.authorSchertler, Andreaen_US
dc.date.accessioned2009-01-28T14:59:38Z-
dc.date.available2009-01-28T14:59:38Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/17809-
dc.description.abstractWe study the link between underpricing of initial public offerings (IPOs) and index excess returns in secondary markets. We use a theoretical model to argue that underpricing of IPOs raises investors? attention and, thereby, triggers investments in secondary markets. Our theoretical model implies that such investments should give rise to positive index excess returns in secondary markets. The results of our empirical tests, based on a dataset of stocks from the Neuer Markt and the Nouveau Marché, are in line with the implication of our theoretical model.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKieler Arbeitspapiere 1259en_US
dc.subject.jelN24en_US
dc.subject.jelG14en_US
dc.subject.ddc330en_US
dc.subject.keywordunderpricingen_US
dc.subject.keywordindex excess returnsen_US
dc.subject.keywordIT firmsen_US
dc.subject.stwBörsenkursen_US
dc.subject.stwWertpapieremissionen_US
dc.subject.stwKapitalertragen_US
dc.subject.stwAktienindexen_US
dc.subject.stwNeuer Markten_US
dc.subject.stwSchätzungen_US
dc.subject.stwTheorieen_US
dc.subject.stwDeutschlanden_US
dc.subject.stwFrankreichen_US
dc.subject.stwSekundärmarkten_US
dc.titleUnderpricing and Index Excess Returnsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn502755326en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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