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A study of the initial returns and the aftermarket performance of initial public offerings of demutualized building societies in the UK

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  • Radha Shiwakoti
  • Robert Hudson
  • Helen Short

Abstract

This article examines the initial returns and the aftermarket performance of initial public offerings (IPOs) of demutualized building societies in the UK. The size of the IPOs and the unusual features of the process involved allow for the testing of a number of hypotheses developed from established theories regarding IPOs and mutual to stock conversions. In broad terms, the findings of the study are in accordance with the previous literature.

Suggested Citation

  • Radha Shiwakoti & Robert Hudson & Helen Short, 2005. "A study of the initial returns and the aftermarket performance of initial public offerings of demutualized building societies in the UK," Applied Economics Letters, Taylor & Francis Journals, vol. 12(7), pages 403-409.
    • Handle: RePEc:taf:apeclt:v:12:y:2005:i:7:p:403-409
    DOI: 10.1080/13504850500109808
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    References listed on IDEAS

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    1. James Barth & Daniel Page & John Jahera, 1999. "Abnormal returns of thrift versus non-thrift IPOs," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 23(1), pages 15-22, March.
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