Abstract
The long-run underperformance of IPOs is one of the three anomalies in IPOs. Many scholars have carried on various researches on it since Ritter firstly found the long-run underperformance of IPOs. This paper investigates in the empirical and theoretical studies on the long-run performance of IPOs since Ritter. It gives a full introduction of the changes of methods for measuring the long-run performance of IPOs, controversies of empirical results, comparisons of the influencing factors, and theoretical explanations from different perspectives. At the end, some points of future research are presented.
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Zhang, Jw., Liu, Yf. (2013). Long-Run Performance of IPOs: Phenomenon and Theories. In: Qi, E., Shen, J., Dou, R. (eds) Proceedings of 20th International Conference on Industrial Engineering and Engineering Management. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-40072-8_34
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DOI: https://doi.org/10.1007/978-3-642-40072-8_34
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