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IPO underpricing, signaling, and property returns

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  • Fabian Brämisch
  • Nico Rottke
  • Dirk Schiereck

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Suggested Citation

  • Fabian Brämisch & Nico Rottke & Dirk Schiereck, 2011. "IPO underpricing, signaling, and property returns," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 25(1), pages 27-51, March.
    • Handle: RePEc:kap:fmktpm:v:25:y:2011:i:1:p:27-51
    DOI: 10.1007/s11408-010-0151-9
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    References listed on IDEAS

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    1. Loughran, Tim & Ritter, Jay R. & Rydqvist, Kristian, 1995. "Initial public offerings: International insights," Pacific-Basin Finance Journal, Elsevier, vol. 3(1), pages 139-140, May.
    2. Jain, Bharat A & Kini, Omesh, 1994. "The Post-Issue Operating Performance of IPO Firms," Journal of Finance, American Finance Association, vol. 49(5), pages 1699-1726, December.
    3. Titman, Sheridan & Trueman, Brett, 1986. "Information quality and the valuation of new issues," Journal of Accounting and Economics, Elsevier, vol. 8(2), pages 159-172, June.
    4. Gerbich, Marcus & Levis, Mario & Venmore-Rowland, Piers, 1999. "Property Investment and Property Development Firm Performance around Initial Public Offerings and Rights Offerings: U.K. Evidence," The Journal of Real Estate Finance and Economics, Springer, vol. 18(2), pages 207-238, March.
    5. Schmalensee, Richard, 1985. "Do Markets Differ Much?," American Economic Review, American Economic Association, vol. 75(3), pages 341-351, June.
    6. Brounen, Dirk & Eichholtz, Piet, 2002. "Initial Public Offerings: Evidence from the British, French and Swedish Property Share Markets," The Journal of Real Estate Finance and Economics, Springer, vol. 24(1-2), pages 103-117, Jan.-Marc.
    7. Dirk P.M. De Wit, 1993. "Smoothing Bias in In-House Appraisal-Based Returns of Open-End Real Estate Funds," Journal of Real Estate Research, American Real Estate Society, vol. 8(2), pages 157-170.
    8. Benveniste, Lawrence M. & Busaba, Walid Y. & Wilhelm, William Jr., 2002. "Information Externalities and the Role of Underwriters in Primary Equity Markets," Journal of Financial Intermediation, Elsevier, vol. 11(1), pages 61-86, January.
    9. Hanley, Kathleen Weiss & Wilhelm Jr., William J., 1995. "Evidence on the strategic allocation of initial public offerings," Journal of Financial Economics, Elsevier, vol. 37(2), pages 239-257, February.
    10. Below, Scott & Zaman, Mir A & McIntosh, Will, 1995. "The Pricing of Real Estate Investment Trust Initial Public Offerings," The Journal of Real Estate Finance and Economics, Springer, vol. 11(1), pages 55-64, July.
    11. Rock, Kevin, 1986. "Why new issues are underpriced," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 187-212.
    12. Aigbe Akhigbe & Jarrod Johnston & Jeff Madura & Thomas M. Springer, 2004. "Market Signals Associated with REIT IPOs," The Journal of Real Estate Finance and Economics, Springer, vol. 28(4), pages 355-367, May.
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    Cited by:

    1. Ali Shaddady & Mohammed Alsaggaf, 2020. "Issues that Matter When Behavioral Finance Factors Drive the Largest Initial Public Offering in the Saudi Financial Market," International Journal of Economics and Financial Issues, Econjournals, vol. 10(6), pages 106-117.

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    More about this item

    Keywords

    Initial public offering; Underpricing; Signaling; Direct property returns; G24; D82;
    All these keywords.

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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