Literature: Country Studies
Australia

Austria

China

Finland

Frankreich

Germany

India

Italy

Japan

Malaysia

Netherlands

Poland

Singapur

Spain

Switzerland

Turkey

United Kingdom

USA

International

Empirical Studies for Australia:
  • Lee, Philip J.; Taylor, Stephen L.; Walter, Terry S.
    Australian IPO pricing in the short and long run
    Journal of Banking & Finance, Vol. 20, 1996, S. 1189-1210

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Empirical Studies for Austria:
  • Aussenegg, Wolfgang
    Short and Long-Run Performance of Initial Public Offerings in the Austrian Stock Market
    Working Paper, Vienna University of Technology, Draft: August 1997

  • Hunger, Adrian
    IPO-Underpricing im Kontext einer vertikalen Marktsegmentierung
    Studien zur Kredit und Finanzwirtschaft/Studies in Credit and Finance, Band 180

    Duncker & Humblot-Verlag, Berlin, 2005
    ISBN: 3-428-11901-0

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Empirical Studies for China:
  • Mok, Henry M.K.; Hui, Y.V.
    Underpricing and aftermarket performance of IPOs in Shanghai, China
    Pacific-Basin Finance Journal, Vol. 6, 1998, S. 453-474

  • Su, Dongwei; Fleisher, Belton M.
    An Empirical Investigation of Underpricing in Chinese IPOs
    Working Paper, Department of Economics, The Ohio State University, January 1997

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Empirical Studies for Finland:
  • Keloharju
    The winner's curse, legal liability, and the long-run price performance of initial public offerings in Finland
    Journal of Financial Economics, Vol. 34, 1993, S. 251-277

  • Westerholm, Joakim
    The Activity of the Underwriter in Initial Public Offerings, Evidence from the Limit Order Book of the Helsinki Stock Exchange
    Working Paper, Swedish School of Economics and Business Administration, Finland, 1998

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Empirical Studies for France:
  • Hunger, Adrian
    IPO-Underpricing im Kontext einer vertikalen Marktsegmentierung
    Studien zur Kredit und Finanzwirtschaft/Studies in Credit and Finance, Band 180

    Duncker & Humblot-Verlag, Berlin, 2005
    ISBN: 3-428-11901-0

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Empirical Studies for Germany:
  • Ehrhardt, Olaf; Nowak, Eric
    Private Benefits and Minority Shareholder Expropriation - Empirical Evidence from IPOs of Geman Family-Owned Firms
    Working Paper, Center for Financial Studies, Johann Wolfgang Goethe Universität, Frankfurt, No. 2001/10

  • Fohlin, Caroline
    IPO Underpricing in Two Universes: Berlin, 1882-1892, and New York, 1998-2000
    Social Science Working Paper 1088, California Institute of Technology, May 2000

  • Hunger, Adrian
    IPO-Underpricing im Kontext einer vertikalen Marktsegmentierung
    Studien zur Kredit und Finanzwirtschaft/Studies in Credit and Finance, Band 180

    Duncker & Humblot-Verlag, Berlin, 2005
    ISBN: 3-428-11901-0

  • Hunger, Adrian
    IPO-Underpricing und die Besonderheiten des Neuen Marktes. Eine ökonomische Analyse börsenrechtlicher Marktsegmentierung
    Lang-Verlag, Frankfurt am Main, 2001

  • Hunger, Adrian
    Market Segmentation and IPO-Underpricing: The German Experience
    Working Paper, Ludwig-Maximilians-Universität München, Institut für Kapitalmarktforschung und Finanzierung, Februar 2003

  • Kaserer, Christoph; Kempf, Volker
    Das Underpricing-Phänomen am deutschen Kapitalmarkt und seine Ursachen
    Zeitschrift für Bankrecht und Bankwirtschaft, 1/1995, S. 45-68

  • Kiss, Imre
    IPO-Pricing am Neuen Markt - Balance zwischen Emittenten- und Anlegerinteressen
    Die Bank, 7/2001

  • Klein, Peter, G.; Zoeller, Kathrin
    Universal-Bank Underwriting and Conflicts of Interest: Evidence from German Initial Public Offerings
    Working Paper, University of Georgia, May, 2001

  • Ljungqvist, Alexander P.
    Pricing initial public offerings: Furher evidence from Germany
    European Economic Review, Vol. 41, 1997, S. 1309-1320

  • Löffler, Gunter
    Zeichnungsrenditen am Neuen Markt: Gleichgewicht oder Ineffizienz?
    Working Paper, Lehrstuhl für Bankbetriebslehre, Johann Wolfgang Goethe-Universität, Frankfurt, Version: Juli 2000

  • Nowak, Eric; Gropp, Alexandra
    Ist der Ablauf der Lock-up-Frist bei Neuemissionen ein kursrelevantes Ereignis? Eine empirische Analyse von Unternehmen des Neuen Marktes
    Working Paper Series: Finance & Accounting, Johan Wolfgang Goethe-Universität Frankfurt am Main, No. 63, 2000

  • Schlag, Christian; Wodrich, Anja
    Has There Always Been Underpricing and Long-Run Underperformance? - IPOs in Germany Before World War I
    Working Paper, Center for Financial Studies, Frankfurt, November 2000

  • Schmidt, Reinhard H. et al.
    Underpricing bei deutschen Erstemissionen 1984/85
    Zeitschrift für Betriebswirtschaft, 58. Jg., 1988, S. 1193-1203

  • Uhlir, Helmut
    Der Gang an die Börse und das Underpricing-Phänomen
    Zeitschrift für Bankrecht und Bankwirtschaft, 1/1989

  • Wasserfallen, Walter; Wittleder, Christian
    Pricing initial public offerings. Evidence from Germany
    European Economic Review, Vol. 38, 1994, S. 1505-1517

  • Wilkens, Marco; Graßhoff, Armin
    Das Underpricing-Phänomen bei Aktienneuemissionen - Systematisierung von Erklärungsansätzen und Überblick über empirische Untersuchungen
    IBFG-Studien, Institut für betriebswirtschaftliche Geldwirtschaft der Universität Göttingen, Nr. 11, September 1999

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Empirical Studies for India:
  • Shah, Ajay
    The Indian IPO Market: Suggestions for Institutional Arrangements
    Working Paper, Centre for Monitoring Indian Economy, Bombay, India, June 1995

  • Shah, Ajay
    The Indian IPO Market: Empirical Facts
    Working Paper, Centre for Monitoring Indian Economy, Bombay, India, June 1995

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Empirical Studies for Italy:
  • Arosio, Roberto; Giudici, Giancarlo; Paleari, Stefano
    Why Do (or Did) Internet-Stock IPOs Leave So Much "Money on The Table" ?
    Australasian Finance and Banking Conference, Sydney, Australien, Dezember 2000

  • Arosio, Roberto; Giudici, Giancarlo; Paleari, Stefano
    What Drives the Initial Market Performance of Italian IPOs ? An Empirical Investigation on Underpricing and Price Support
    FMA Annual Meeting, Seattle, USA. Oktober 2000

  • Arosio, Roberto; Giudici, Giancarlo; Paleari, Stefano
    The Market Performance of Italian IPOs in the Long-Run
    Working Paper, Universita degli Studi die Bergamo, Italien, Preliminary Draft, Januar 2001

  • Fabrizzio, Stefano
    Asymmetric information and underpricing of IPOs: the role of the underwriter, the prospectus and the analysts. An empirical examination of the Italian Situation
    Working Paper, Economic Research Department of the Italian Securities Exchange Commission (CONSOB), Version: September 2000

  • Giudici, Giancarlo; Paleari, Stefano
    Underpricing, Price Stabilization and Long-Run Performance in Intial Public Offerings: A Study on the Italian Stock Market Between 1985 and 1998
    Asia Pacific Finance Association, Annual Meeting, Melbourne, July 1999

  • Hunger, Adrian
    IPO-Underpricing im Kontext einer vertikalen Marktsegmentierung
    Studien zur Kredit und Finanzwirtschaft/Studies in Credit and Finance, Band 180

    Duncker & Humblot-Verlag, Berlin, 2005
    ISBN: 3-428-11901-0

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Empirical Studies for Japan:
  • Amihud, Yakov; Mendelson, Haim; Uno, Jun
    Number of Shareholders and Stock Prices: Evidence from Japan
    Journal of Finance, Vol. 54, Iss. 3, Juni 1999, p. 1169-1184

  • Pettway, Richard H.; Kaneko, Takashi
    The effects of removing price limits and introducing auctions upon short-term IPO returns: The case of Japanese IPOs
    Pacific-Basin Finance Journal, Vol. 4, 1996, p. 241-258

  • Hamao, Yasushi; Packer, Frank; Ritter Jay R.
    Institutional affiliation and the role of venture capital: Evidence from initial public offerings in Japan
    Pacific-Basin Finance Journal, Vol. 8, 2000, p. 529-558

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Empirical Studies for Malaysia:
  • Paudyal, K.; Saadouni, B.; Briston, R.J.
    Privatisation initial public offerings in Malaysia: Initial premium and long-term performance
    Pacific-Basin Finance Journal, Vol. 6, 1998, S. 427-451

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Empirical Studies for the Netherlands:
  • Frederikslust, Ruud A.I.; van der Geest, Roy A.
    Initial returns and long-run performance of private equity-backed initial public offerings on the Amsterdam Stock Exchange
    Working Paper, Rooterdam Scholl of Management, Erasmus University Rotterdam

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Empirical Studies for Poland:
  • Aussenegg, Wolfgang
    Privatization versus Private Sector: Initial Public Offerings in Poland
    Working Paper, Vienna University of Technology, Draft: May 2000

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Empirical Studies for Singapur:
  • Koh, Francis; Walter, Terry
    A Direct Test of Rock's Model of the Pricing of Unseasoned Issues
    Journal of Financial Economics, Vol. 23, 1989, S. 251-272

  • Saunders, Anthony
    Underpricing and the New Issue Process in Singapore
    Journal of Banking & Finance, Vol. 14, 1990, S. 291-309

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Empirical Studies for Spain:

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Empirical Studies for Switzerland:
  • Kunz, Roger M.; Aggarwal, Reena
    Why initial public offerings are underpriced: Evidence from Switzerland
    Journal of Banking & Finance, Vol. 18, 1994, S. 705-723

  • Hunger, Adrian
    IPO-Underpricing im Kontext einer vertikalen Marktsegmentierung
    Studien zur Kredit und Finanzwirtschaft/Studies in Credit and Finance, Band 180

    Duncker & Humblot-Verlag, Berlin, 2005
    ISBN: 3-428-11901-0

Top

Empirical Studies for the Turkey:
  • Kiymaz, Halil
    The initial aftermarkt performance of IPOs in an emerging market: evidence from Istanbul stock exchange
    Journal of Multinational Financial Management, Vol. 10, 2000, S. 213-227

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Empirical Studies for the United Kingdom:
  • Brennan, M.J.; Franks, J.
    Underpricing, ownership and control in initial public offerings of equity securities in the UK
    Journal of Financial Economics, Vol. 45, 1997, S. 391-413

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Empirical Studies for the USA:
  • Aggarwal, Reena; Prabhala, Nagpurnanand R.; Puri, Manju;
    Institutional Allocation in Initial Public Offerings: Empirical Evidence
    Journal of Finance, June 2002, Vol 57(3), pp1421-1442

  • Busaba, Walid Y.; Benveniste, Lawrence M.; Guo, Re-Jin
    The option to withdraw IPOs during the premarket: empirical analysis
    Journal of Financial Economics, Vol. 60, 2001, pp. 73-102

  • Foerster, Stephen R.; Karolyi, G.Andrew
    The Effects of Market Segmentation and Investor Recognition on Asset Prices: Evidence from Foreign Stock Listing in the United States
    Journal of Finance, Vol. 54, Iss. 3, Juni 1999, pp. 981-1013

  • Fohlin, Caroline
    IPO Underpricing in Two Universes: Berlin, 1882-1892, and New York, 1998-2000
    Social Science Working Paper 1088, California Institute of Technology, May 2000

  • Loughran, Tim
    NYSE vs NASDAQ returns
    Journal of Financial Economics, Vol. 33, 1993, pp. 241-260

  • Reinganum, Marc R.
    Market microstructure and asset pricing. An empirical investigation of NYSE and NASDAQ securities
    Journal of Financial Economics, Vol. 28, 1990, pp. 127-147

  • Ritter, Jay R.
    The "Hot Issue" Market of 1980
    Journal of Business, Vol. 57, Iss. 2, 1984, pp. 215-240

  • Ritter Jay. R.
    The Long-Run Performance of Initial Public Offerings
    Journal of Finance, Vol. 56, No. 1, 1991, pp. 3-27

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International Studies:
  • Huang, Qi; Levich, Richard M.
    Underpricing of New Equity Offerings by Privatized Firms: An International Test
    Working Paper, New York University, September 1999

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