Comparable Stocks, Boundedly Rational Stock Markets and IPO Entry Rates

In this study, we examine how initial public offerings (IPO) entry rates are affected when stock markets are boundedly rational and IPO firms infer information from their counterparts in the market. We hypothesize a curvilinear relationship between the number of comparable stocks and initial public...

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Detalles Bibliográficos
Autores principales: Chok, Jay, Qian, Jifeng
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Public Library of Science 2013
Materias:
Research Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3656873/
https://www.ncbi.nlm.nih.gov/pubmed/23690924
http://dx.doi.org/10.1371/journal.pone.0061474
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author Chok, Jay
Qian, Jifeng
author_facet Chok, Jay
Qian, Jifeng
author_sort Chok, Jay
collection PubMed
description In this study, we examine how initial public offerings (IPO) entry rates are affected when stock markets are boundedly rational and IPO firms infer information from their counterparts in the market. We hypothesize a curvilinear relationship between the number of comparable stocks and initial public offerings (IPO) entry rates into the NASDAQ Stock Exchange. Furthermore, we argue that trading volume and changes in stock returns partially mediates the relationship between the number of comparable stocks and IPO entry rates. The statistical evidence provides strong support for the hypotheses.
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spelling pubmed-36568732013-05-20 Comparable Stocks, Boundedly Rational Stock Markets and IPO Entry Rates Chok, Jay Qian, Jifeng PLoS One Research Article In this study, we examine how initial public offerings (IPO) entry rates are affected when stock markets are boundedly rational and IPO firms infer information from their counterparts in the market. We hypothesize a curvilinear relationship between the number of comparable stocks and initial public offerings (IPO) entry rates into the NASDAQ Stock Exchange. Furthermore, we argue that trading volume and changes in stock returns partially mediates the relationship between the number of comparable stocks and IPO entry rates. The statistical evidence provides strong support for the hypotheses. Public Library of Science 2013-05-17 /pmc/articles/PMC3656873/ /pubmed/23690924 http://dx.doi.org/10.1371/journal.pone.0061474 Text en © 2013 Chok, Qian http://creativecommons.org/licenses/by/4.0/ This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are properly credited.
spellingShingle Research Article
Chok, Jay
Qian, Jifeng
Comparable Stocks, Boundedly Rational Stock Markets and IPO Entry Rates
title Comparable Stocks, Boundedly Rational Stock Markets and IPO Entry Rates
title_full Comparable Stocks, Boundedly Rational Stock Markets and IPO Entry Rates
title_fullStr Comparable Stocks, Boundedly Rational Stock Markets and IPO Entry Rates
title_full_unstemmed Comparable Stocks, Boundedly Rational Stock Markets and IPO Entry Rates
title_short Comparable Stocks, Boundedly Rational Stock Markets and IPO Entry Rates
title_sort comparable stocks, boundedly rational stock markets and ipo entry rates
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3656873/
https://www.ncbi.nlm.nih.gov/pubmed/23690924
http://dx.doi.org/10.1371/journal.pone.0061474
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