Premium
An Analysis of Bond Investment Company Initial Public Offerings: Past and Present
Author(s) -
Anderson Seth C.,
Born Jeffery A.,
Beard T. Randolph
Publication year - 1991
Publication title -
financial review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.621
H-Index - 47
eISSN - 1540-6288
pISSN - 0732-8516
DOI - 10.1111/j.1540-6288.1991.tb00377.x
Subject(s) - initial public offering , equity (law) , business , bond , investment (military) , monetary economics , finance , investment banking , financial system , economics , politics , political science , law
In this study, we investigate the return behavior of bond investment company initial public offerings (IPOs). Samples of these IPOs collected for the periods 1973–1976 and 1986–1987 exhibited negative returns to investors. The findings are in contrast to those usually reported for IPOs but are consistent with those recently reported for equity investment company IPOs.