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Abstract

Initial public offerings from 1980 to 2002 are from the Securities Data Company (SDC) database. Similar to Chemmanur and Paeglis (2005) and Lowry and Schwert (2004), real estate investment trusts (REITs) (SIC 6798) and closed-end funds (SIC 6726) are dropped from the sample. Following Ritter (1991) and Teoh et al. (1998), I also exclude so-called penny stocks with an offer price of one dollar or less and unit offerings from my sample.32

Keywords

Abnormal Return Excess Return Information Risk Real Estate Investment Trust Portfolio Return 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Gabler | GWV Fachverlage GmbH, Wiesbaden 2008

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