WebJul 5, 2012 · Using a sample of fifty-six companies going public in 1996--2000 in which top executives received allocations of other hot initial public offerings (IPOs) from the bookrunner, a practice known as spinning, we examine the consequences of spinning. The fifty-six IPOs had first-day returns that were, on average, 23% higher than similar IPOs. WebJan 29, 2024 · Spinning: The act by a brokerage firm or underwriter of offering shares in an IPO to preferred customers, as a means of retaining or obtaining their business. In theory, …
Economic Consequences of IPO Spinning - Oxford …
WebMar 30, 2024 · EY. Mar 30, 2024, 19:01 ET. Q1 2024 global IPO volumes fell 37%, with proceeds down by 51% year-on-year (YOY) This was despite the strongest January in 21 years by proceeds. Asia-Pacific accounted ... trigonometry karnataka board class 10 ncert
The Economic Consequences of IPO Spinning
WebJan 1, 2013 · We consider further the impact of competition to IPO “3-high”. ... Liu XD, Ritter JR (2010) The economic consequences of IPO spinning. Rev Financ Stud 23(5):2024–2059. CrossRef Google Scholar Liu ZY, Zheng K, He YN (2011) Is the first stage reform of IPO book-building mechanism efficient (in Chinese). Financ Res J 4:158–173 WebThis suggests that the spinning of the executives does affect their behavior.24 6. Estimation of the costs and benefits of spinning 6.1. Costs and benefits for the executives The total … WebThe Economic Consequences of IPO Spinning return for IPO allocations, are examined either theoretically or empirically by Hao (2007), Cliff and Denis (2004), and Reuter (2006), … trigonometry is used in criminology