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Full-Text Articles in Social and Behavioral Sciences
The Long-Run Performance Of U.S. Firms Pursuing Ipos In Foreign Markets, Robert N. Killins, Peter V. Egly
The Long-Run Performance Of U.S. Firms Pursuing Ipos In Foreign Markets, Robert N. Killins, Peter V. Egly
Economics and Finance Faculty Publications and Presentations
Purpose
The purpose of this paper is to investigate the long-run performance of a unique set of US domiciled firms that have bypassed the US capital markets in pursuit of their initial public offering (IPO) overseas. Additionally, this paper then tests the popular underwriter prestige impact and the window of opportunity hypothesis on this unique subset of IPOs.
Design/methodology/approach
Using a sample of foreign and purely domestic IPOs made by US firms from 2000 to 2011, this study investigates the long-term performance, one-, two- and three-year by using two measures (buy-and-hold return and cumulative abnormal returns) to test the long-run …