IPOs: insights from seven European countries

Josef Anton Schuster

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: We perform a comparative country-by-country study of companies going public in the six largest Continental European markets and Sweden during 1988 and 1998, a time period characterized by IPO activity in a broad set of industries. By applying a common research methodology, we find broad similarity in the overall and cross-sectional initial pricing and long-run performance patterns. Positive long-run IPO performance is a function of a countries' ability to attract "New Economy" IPOs. This helps to shed some light on the rational behind the frantic efforts made be individual European Stock Exchanges to establish "New Market" segments during the late 1990s.

JEL-codes: G30 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2003-05-01
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:24860

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