Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/55940 
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dc.contributor.authorBessler, Wolfgangen
dc.contributor.authorThies, Stefanen
dc.date.accessioned2012-03-15T14:05:04Z-
dc.date.available2012-03-15T14:05:04Z-
dc.date.issued2006-
dc.identifier.citation|aJournal of Entrepreneurial Finance, JEF|c1551-9570|v11|h3|nThe Academy of Entrepreneurial Finance (AEF)|lMontrose, CA|y2006|p1-37en
dc.identifier.urihttp://hdl.handle.net/10419/55940-
dc.description.abstractThe objective of this study is to investigate the long-run performance of initial public offerings (IPO) in Germany for the period from 1977 to 1995. Of particular interest is to examine whether underpricing and the timing of subsequent seasoned equity offerings (SEO) may help to explain why some firms have substantial positive and others have substantial negative long-run abnormal holding period returns after going public. We find significant empirical evidence that firms that raised additional funds after an IPO through a seasoned equity offering outperformed the market. There is a significant difference in returns relative to the firms that had no subsequent equity offering. A comparison of seasoned equity offerings of IPOs and of established firms suggests that the information asymmetry is more pronounced for IPO firms.en
dc.language.isoengen
dc.publisher|aThe Academy of Entrepreneurial Finance (AEF) |cMontrose, CAen
dc.subject.ddc650en
dc.titleInitial public offerings, subsequent seasoned equity offerings, and long-run performance: Evidence from IPOs in Germany-
dc.typeArticleen
dc.identifier.ppn663198429en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
econstor.citation.journaltitleJournal of Entrepreneurial Finance, JEFen
econstor.citation.issn1551-9570en
econstor.citation.volume11en
econstor.citation.issue3en
econstor.citation.publisherThe Academy of Entrepreneurial Finance (AEF)en
econstor.citation.publisherplaceMontrose, CAen
econstor.citation.year2006en
econstor.citation.startpage1en
econstor.citation.endpage37en

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