Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/17809 
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dc.contributor.authorNippel, Peteren
dc.contributor.authorPierdzioch, Christianen
dc.contributor.authorSchertler, Andreaen
dc.date.accessioned2009-01-28T14:59:38Z-
dc.date.available2009-01-28T14:59:38Z-
dc.date.issued2005-
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
dc.language.isoengen
dc.publisher|aKiel Institute for World Economics (IfW) |cKielen
dc.relation.ispartofseries|aKiel Working Paper |x1259en
dc.subject.jelN24en
dc.subject.jelG14en
dc.subject.ddc330en
dc.subject.keywordunderpricingen
dc.subject.keywordindex excess returnsen
dc.subject.keywordIT firmsen
dc.subject.stwBörsenkursen
dc.subject.stwWertpapieremissionen
dc.subject.stwKapitalertragen
dc.subject.stwAktienindexen
dc.subject.stwNeuer Markten
dc.subject.stwSchätzungen
dc.subject.stwTheorieen
dc.subject.stwDeutschlanden
dc.subject.stwFrankreichen
dc.subject.stwSekundärmarkten
dc.titleUnderpricing and Index Excess Returns-
dc.typeWorking Paperen
dc.identifier.ppn502755326en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwkwp:1259en

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