scholarly journals Trends in IPOs: The Evidence From Financial Markets

Equilibrium ◽  
2013 ◽  
Vol 8 (2) ◽  
pp. 45-63
Author(s):  
Tomas Meluzin ◽  
Marek Zinecker
Keyword(s):  
Emerging Markets ◽  
Initial Public Offerings ◽  
Secondary Data ◽  
Public Offerings ◽  
Developed Economies ◽  
Corporate Growth ◽  
World Markets ◽  
The Us ◽  
The World ◽  
European Markets

This paper deals with the analysis of initial public offerings of shares in terms of their quantity and the amount of capital raised by this form of financing on the world markets. Relevant global developments will be analyzed first, followed by a description of regional situation. The analysis is based on secondary data which are processed by descriptive statistics methods. The analysis of IPO trends on the world markets indicates that, in the period of 2004-2007, IPO-based financing of corporate growth gained in importance on both developed and emerging markets. The IPO segment was dominated by the largest emerging markets (Brazil, Russia, India and China) and at the same time the US American and Western European markets decline in their importance. The world-wide economic crisis of 2008 suppressed the interest in new IPOs, particularly in the developed economies. As the economy of most countries is beginning to revive, the interest in the IPO approach from businesses and investors is on the rise. It can be expected that, in the next few years, the arena of initial public offerings will be dominated by visionary companies operating on emerging markets where the execution of an IPO will constitute the key element in securing the capital essential for further expansion.

Understanding Retailing Concepts

2010 ◽  
pp. 1-31
Author(s):  
Dr. Rajagopal
Keyword(s):  
Emerging Markets ◽  
Critical Point ◽  
Business Systems ◽  
Competitive Strategies ◽  
World Markets ◽  
The World ◽  
Global Companies ◽  
Successful Business ◽  
Industrial Needs ◽  
Blue Print

It has been observed that the technology has homogenized the world markets for variety of customer and industrial needs. The reduction in the tariff barriers, duties and liberalization process worldwide has further given a stimulus to the international marketing across the regional boundaries. The growing internationalization of business induces changes in the positioning of competitors and appropriate competitive strategies. As the companies attain gradual success in geographically expanding their business and effectively performing international operations, they reach at critical point and would be able to synchronize the proximity to the overseas markets and customer needs. The global companies at this point blue print their successful business systems in the emerging markets by creating relatively decentralized operations in production, marketing and sales.

Firmer forecasts for 2020 world growth are unrealistic

2019 ◽  
Keyword(s):  
Emerging Markets ◽  
Financial Markets ◽  
World Economy ◽  
Content Type ◽  
Steady Growth ◽  
The Us ◽  
The World ◽  
Bank Of Japan

Significance Trade activity has been sharply downgraded: five years ago, the Fund expected 5.6% trade volumes growth this year. Now it sees 1.1%, one-third of the pace it forecast in April. The dichotomy between the Fund describing the recovery as “precarious”, and nonetheless predicting strong or steady growth for 2020, suggests that it perhaps has more faith in the precariousness than in the 2020-21 estimates. Impacts Growth is slowing in 90% of the world economy; this will rise if emerging markets such as Turkey and Iran suffer a double-dip recession. Targeting 2% inflation is becoming inappropriate for the ECB, the Bank of Japan and even the US Fed; thus, monetary innovation is likely. Financial markets focus on tariffs and the chances of a US-China deal, but this is misleading as non-tariff barriers are much larger.

How Americans Feel About Asian Countries and Why

2008 ◽  
Vol 8 (1) ◽  
pp. 29-59 ◽  
Author(s):  
Benjamin I. Page ◽  
Julia Rabinovich ◽  
David G. Tully
Keyword(s):  
National Security ◽  
Formal Education ◽  
Belief Systems ◽  
Policy Implications ◽  
Social Characteristics ◽  
Asian Countries ◽  
Foreign Countries ◽  
World Markets ◽  
The Us ◽  
The World

Americans' feelings about foreign countries are embedded in foreign policy belief systems and affect policy preferences. The analysis of nine surveys of the US general public conducted between 1978 and 2006 indicates that on average Americans have had rather lukewarm or slightly cool, nearly neutral, feelings toward China, India, South Korea, Taiwan, and Indonesia; warm feelings toward Japan and Australia; and cold feelings toward North Korea and (at least since 2001) toward Pakistan and Afghanistan.Individuals' feelings are affected by certain personal and social characteristics. High levels of formal education tend to make people feel considerably warmer toward most of these countries—especially Pakistan, Afghanistan, and India. Education increases information: those who know more about the world generally express warmer feelings. But most important are internationalist attitudes, especially putting a relatively low priority on US domestic threats and concerns, embracing capitalism and world markets, and espousing world antipoverty goals. National security considerations play only a limited part. Policy implications are discussed.

Initial public offerings: evidence from the UK

2004 ◽  
Vol 30 (1) ◽  
pp. 46-62 ◽  
Author(s):  
Ashley Burrowes ◽  
Kevin Jones
Keyword(s):  
Initial Public Offerings ◽  
Stock Exchange ◽  
Due Diligence ◽  
London Stock Exchange ◽  
Public Offerings ◽  
The Us ◽  
The Uk ◽  
High Level ◽  
Alternative Investment

This investigation into the performance of Initial Public Offerings on the new Alternative Investment Market reveals that the expected high level of underpricing, that is usually associated with the risky nature of small, young and growing companies, is not supported by the evidence in this study. Raw and market adjusted figures reveal that IPOs listed on AIM at the London Stock Exchange appear to be only conservatively mispriced when contrasted to main board IPO listings in the US, UK and other countries. Due diligence listing requirements could be offsetting the otherwise risky nature of these small, young and growing companies. Finally AIM is discussed in terms of meeting its own targets and its ability to attract international listings.

scholarly journals IPOs Performance Analysis: Evidence from Emerging Markets in the Balkans

2016 ◽  
Vol 63 (3) ◽  
pp. 381-389 ◽  
Author(s):  
Goran Karanović ◽  
Bisera Karanović
Keyword(s):  
Emerging Markets ◽  
Initial Public Offerings ◽  
Public Offerings ◽  
The Balkans ◽  
Financial Variables ◽  
Balkan Countries ◽  
Short And Long Term ◽  
Long Term Performance ◽  
Term Performance

Abstract The main purpose of this paper is to investigate the performance of initial public offerings (IPOs) in the emerging markets with particular focus on the markets of Balkan countries. The paper provides analysis of long and short performance of IPOs. In the Balkan emerging markets IPOs are relatively rarely used. Although all observed Balkan countries have gone through processes of transition from planned economies to market economies in the past 25 years, just a few state-owned companies have been privatized by use of IPOs. Due to this specific nature of the companies the analyzed sample of IPOs is comprised of state-owned and non-state-owned companies. The results are interpreted and expounded accordingly, taking into consideration the aforementioned conjunction. The findings indicate that company characteristics, signalling variables and financial variables have influence on the IPOs short and long term performance. The paper provides academia and policymakers with new revelations concerning the IPO processes in Balkan emerging economies’ capital markets.

IPO Pricing Mechanisms in the Presence of When-Issued Markets

2014 ◽  
Vol 04 (03) ◽  
pp. 1450016
Author(s):  
Pegaret Pichler ◽  
Alex Stomper
Keyword(s):  
Initial Public Offerings ◽  
Trading Rules ◽  
Public Offerings ◽  
Optimal Mechanism ◽  
The Us ◽  
Ipo Pricing

In some countries, it is common that initial public offerings (IPOs) are preceded by forward ("when-issued") trading of the shares; in the US, such trading is prohibited. We analyze the effect of when-issued trading on the pricing and allocation of IPO shares. We demonstrate that the optimal selling mechanism in the presence of when-issued trading differs qualitatively from the optimal mechanism if such trading is prohibited. Furthermore we show that trading rules in the when-issued market can be designed so that allowing when-issued trading results in an increase in expected issue proceeds.

Perspective on Underpricing of IPOs in Emerging Economies

2019 ◽  
Vol 18 (1_suppl) ◽  
pp. S87-S101
Author(s):  
L V Ramana
Keyword(s):  
Asymmetric Information ◽  
Emerging Markets ◽  
Initial Public Offerings ◽  
Emerging Economies ◽  
Important Determinant ◽  
The State ◽  
Secondary Market ◽  
Top Management ◽  
Public Offerings ◽  
Jel Classifications

Pricing of initial public offerings (IPOs) has received considerable attention from the perspective of asymmetric information theories, among others. Specific aspects of emerging markets have been incorporated into models to explain the varying degrees of underpricing. Using three features that are deemed to be important for such economies, that is, principal–principal conflicts, disclosure norms and legitimacy of the top management, and two different classes of investors, institutional and retail, two frameworks have been designed to explain the expected levels of underpricing under various pair-wise combinations of these parameters. The state of the secondary market, which is an important determinant of the decision to go public, is incorporated into the framework. JEL Classifications: G3, G14, G15, G18

scholarly journals CAUSES AND IMPACTS OF TERRORISM IN SWAT VALLEY (2007-2017)

2021 ◽  
Vol 4 (1) ◽  
Author(s):  
Muhammad Fahim Khan, Dr. Muhammad Ayaz Khan
Keyword(s):  
War On Terror ◽  
Driving Forces ◽  
Secondary Data ◽  
Developed Countries ◽  
Global War On Terror ◽  
Social Fabric ◽  
The Us ◽  
The World ◽  
Swat Valley ◽  
Global War

Terrorism is a universally contested concept with varying understanding in different regions of the world. Its conceptualization in developed countries and developing countries is different in the essence of perception and operationalization. This study attempts to explore the genesis of terrorism generally in Pakistan and Swat valley in particular. It explores the causes and major driving forces of terrorism and the factors which contributed to its spread because of social fault lines. The menace of terrorism had been globalized in the wake of 9/11, which led the US to initiate global war on terror, but its implications on Pakistan were triggered by the US invasion of Afghanistan and the contributions of Pakistan in this regard. The global geographic attraction of Pakistan makes it vulnerable to any critical development in the world by default. To analyze the causes and impacts of the study, this study relies on a descriptive method of analysis backed by primary and secondary data in a bid to provide more diversity for a broader understanding of the outcome. This study found out multiple factors including weak social fabric, political instability, the grim economic situation of masses, poor education and health facilities, and above all, lack of social justice responsible for instigating violence in the region and urge to challenge the writ of the state, this study further debates on the losses incurred to inhabitants with the destruction of civil infrastructure. Pakistan lost approximately 35000  civilians and 7000 military personnel in the war on terror in exclusion to the loss of the economy in this particular area. This study efforts to suggest concrete steps to improve security conditions in the area to foster socio-economic development in the region and provide adequate facilities and living standards.

scholarly journals Macroeconomic Determinants of Brain Drain in the Era of Globalization: Evidence from Pakistan

2020 ◽  
Vol 4 (2) ◽  
pp. 24-41
Author(s):  
Shazia Kousar ◽  
Farhan Ahmed ◽  
Syeda Arfa Anam Bukhari
Keyword(s):  
Brain Drain ◽  
Financial Stability ◽  
Secondary Data ◽  
Factors Affecting ◽  
Developed Economies ◽  
Long Run ◽  
The World ◽  
Development Indicator ◽  
World Development Indicator ◽  
Macroeconomic Determinants

The Brain Drain (BD) is a cynosure of all the eyes because it has become a grave issue for Pakistan. Every year, thousands of students graduate from colleges and universities. Our markets cannot accommodate such a huge number of graduates so; these people prefer to migrate to other parts of the world. This paper attempts to investigate the factors affecting brain drain in Pakistan by utilizing the data for 1990 to 2018. Indices of variables are constructed in this study to measure the potential of factors causing migration from Pakistan to other developed economies. Secondary data has been taken from the World Development Indicator (WDI) and the Bureau of Emigration and Overseas Employment (BEOE). This study finds that in long run governance, financial stability, the standard of living, and infrastructure have a negative and significant impact on the dependent variable (Brain drain). Social openness does not show a significant impact on brain drain in the long run. This study concludes that brain drain in developing nations is a serious matter and it should be addressed on a priority basis. This study helps policymakers to develop policies to reduce the migration of highly skilled labour.

scholarly journals Manufacturing Startups

2013 ◽  
Vol 135 (11) ◽  
pp. 36-41
Author(s):  
Elisabeth B. Reynolds ◽  
Hiram Samel
Keyword(s):  
United States ◽  
Initial Public Offerings ◽  
Scale Up ◽  
The United States ◽  
Market Demand ◽  
Public Offerings ◽  
Us Economy ◽  
Research Investment ◽  
The Us ◽  
Stage Development

This article analyses the reasons and impact of shift of manufacturing startups from the United States to overseas. After years of refining prototypes and perfecting pilot plants, advanced manufacturing startups frequently look overseas when it is time to scale-up for commercial production. Both manufacturing and technology companies go abroad looking for partnerships, because it is easier for investors. When startups scale their manufacturing elsewhere, the United States loses more than a possible return on the research investment that made such breakthroughs possible. The preliminary research suggests that to fully realize the economic gains associated with innovation, new products and services developed by American innovators must be scaled-up within the US economy, as well as in overseas markets. The four suggestions that have been made include the following: increase financing options for later-stage development; create institutions and incentives; change the contours of market demand; and encourage firms to raise capital through initial public offerings.

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