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The Post-Issue Performance of IPO Firms when Banking Is Concentrated and Universal

Author

Listed:
  • Ber, H.
  • Yafeh, Y.
  • Yosha, O.

Abstract

We study the post-IPO performance of Israeli manufacturing firms during teh period 1991-4, finding a decline in profitability and an increase in General and Adminstrative Expenses normalized by sales (GAE), reflecting managerial waste.

Suggested Citation

  • Ber, H. & Yafeh, Y. & Yosha, O., 1996. "The Post-Issue Performance of IPO Firms when Banking Is Concentrated and Universal," Papers 26-96, Tel Aviv.
  • Handle: RePEc:fth:teavfo:26-96
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    BANKING; FINANCIAL MARKET;

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

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