IDEAS home Printed from https://ideas.repec.org/a/fma/fmanag/levis93.html
   My bibliography  Save this article

The Long-Run Performance of Initial Public Offerings: The UK Experience 1980-1988

Author

Listed:
  • Mario Levis

Abstract

Conventional wisdom suggests that the presence of positive first day returns for initial public offerings (IPOs). documented for almost every capital market in the world, constitutes evidence of deliberate underpricing. A number of recent studies, however, appear to cast doubt on this long-established position. They show that firms that obtained a public listing during the 1970s and 1980s underperformed similar size and industry firms by as much as 29% by the third anniversary of their first day of trading.

Suggested Citation

  • Mario Levis, 1993. "The Long-Run Performance of Initial Public Offerings: The UK Experience 1980-1988," Financial Management, Financial Management Association, vol. 22(1), Spring.
    • Handle: RePEc:fma:fmanag:levis93
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fma:fmanag:levis93. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Courtney Connors (email available below). General contact details of provider: https://edirc.repec.org/data/fmaaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.