Der Size-Effekt am Österreichischen Aktienmarkt

Wolfgang Aussenegg and Andreas Grünbichler
Additional contact information
Wolfgang Aussenegg: Technische Universität Wien
Andreas Grünbichler: Universität St. Gallen

Schmalenbach Journal of Business Research, 1999, vol. 51, issue 7, 636-661

Abstract: Summary The observation that stocks with a small market capitalization have risk-adjusted returns above stocks with high market capitalization is well documented far the US and other big stock markets. The aim and contribution of this paper is to investigate, for the first time comprehensively, whether there are similar size-related regularities for stocks listed on the small Vienna Stock Exchange. In contrast to other studies we are concentrating our analysis on the relations hip between size effects and the aftermarket performance of Initial Public Offerings OPOs). The performance differences between stocks with a small and those with a high market capitalization can be explained by the long-run performance of particular groups of IPOs and a negative liquidity effect.

Date: 1999
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/BF03371587 Abstract (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sjobre:v:51:y:1999:i:7:d:10.1007_bf03371587

Ordering information: This journal article can be ordered from
https://www.springer.com/journal/41471

DOI: 10.1007/BF03371587

Access Statistics for this article

More articles in Schmalenbach Journal of Business Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().