Post-IPO directors' sales and reissuing activity: an empirical test of IPO signalling models

Article Abstract:

The undervaluing of new issues in many financial markets worldwide is a phenomenon which apparently contradicts stock market efficiency. A suggested explanation for this phenomenon is that the initial owners of high-quality firms signal their positive data about firm value to uninformed investors by underpricing and retaining shares in an initial public offering (IPO). A study was done to evaluate signalling models by analyzing both post-IPO share offerings by IPO firms and insiders' sales of shares after the IPO using data on all UK firms which held an IPO between 1986 and 1991.

Research and Development in the Social Sciences and Humanities, Stocks & Other Equity Securities, Management Science, Research, Stock-exchange, Securities, Securities listing, Going public (Securities), Initial public offerings, New business enterprises, Startups

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The transmission of pricing information of dually-listed stocks

Article Abstract:

Pricing information transmission of dually-listed stocks is examined.

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