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Article
A comparative analysis of the performance of emerging versus nonemerging industry initial public offerings
New England Journal of Entrepreneurship (2002)
  • Todd A Finkle, The University of Akron
  • Reinhold Lamb, University of North Florida
Abstract
This study fills a gap in previous research by investigating differences between the short and long run aftermarket performance in a sample of emerging versus non-emerging industries. Utilizing the entire population of biotechnology, semiconductor, and Internet IPOs from 1993-1996 as a representative sample of emerging industries, this study found that emerging firms were significantly underpriced compared to a set of non-emerging IPOs.
Keywords
  • Performance Studies,
  • Biotechnology,
  • Software,
  • IPO Initial Public Offering,
  • Initial Public Offerings,
  • Emerging Industries,
  • Non-Emerging Industries,
  • IPOs,
  • Semiconductor,
  • Aftermarket Performance,
  • Underpricing,
  • Emerging,
  • Software IPOs,
  • Biotechnology IPOs,
  • Performance,
  • Stock Price,
  • Internet IPOs,
  • Startups,
  • Startup
Publication Date
2002
Citation Information
Todd A Finkle and Reinhold Lamb. "A comparative analysis of the performance of emerging versus nonemerging industry initial public offerings" New England Journal of Entrepreneurship Vol. 5 Iss. 1 (2002) p. 27 - 38
Available at: http://works.bepress.com/todd_finkle/36/