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| Author: | Ljungqvist, A. P. |
| Title: | Pricing initial public offerings: Further evidence from Germany |
| Journal: | European Economic Review
1997 : JUL, VOL. 41:7, p. 1309-1320 |
| Index terms: | STOCK MARKETS INITIAL PUBLIC OFFERINGS PRICING GERMANY |
| Language: | eng |
| Abstract: | In a recent article in this Review, Wasserfallen and Wittleder ("Pricing IPOs: Evidence from Germany " EER 1994, VOL. 38, p. 1505-1517) provide evidence of the well-known underpricing phenomenon for 92 German IPOs coming to market in 1961-1987. This paper reassesses the evidence on underpricing in Germany, using a larger sample of 189 firms from 1970-1993. The paper also provides evidence of long-run IPO performance. A number of new results emerged are presented in the paper. |
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