Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Business
A Comparative Analysis Of The Performance Of Emerging Versus Nonemerging Industry Initial Public Offerings, Todd A. Finkle, Reinhold Lamb
A Comparative Analysis Of The Performance Of Emerging Versus Nonemerging Industry Initial Public Offerings, Todd A. Finkle, Reinhold Lamb
Todd A Finkle
This study fills a gap in previous research by investigating differences between the short and long run aftermarket performance in a sample of emerging versus non-emerging industries. Utilizing the entire population of biotechnology, semiconductor, and Internet IPOs from 1993-1996 as a representative sample of emerging industries, this study found that emerging firms were significantly underpriced compared to a set of non-emerging IPOs.