Initial public offerings in Canada

Aintablian, Sebouh; Mouradian, Suzanne

Initial public offerings in Canada

Aintablian, Sebouh; Mouradian, Suzanne

URL: http://ojs.acadiau.ca/index.php/ASAC/article/viewFile/993/853

Date: 2018-03-28

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Abstract:

We study a sample of 199 Canadian IPOs for the period 1993-2001 and find that high underpricing in certain industries may explain the long-term underperformance. Also, issues offered during hot-issue periods have higher under-pricing and initial return, but lower long run returns. This result is consistent with the window of opportunity hypothesis.

Citation:

Aintablian, S., & Mouradian, S. (2007, June). Initial public offerings in Canada: A test of the underpricing theories and aftermarket performance. In ASAC (Vol. 28, No. 1).