COVID-19: Fear of pandemic and short-term IPO performance.
Financ Res Lett
; 43: 101977, 2021 Nov.
Article
in English
| MEDLINE | ID: covidwho-1093046
ABSTRACT
This study analyzes the relationship between COVID-19 related fear and short-term IPO performance. Though the average market-adjusted initial return of IPOs in the year 2020 is higher than that of the last four decades, it decreases if fear of pandemic increases. The evidence is robust when we use matching firm-adjusted initial returns. Next, we analyze the persistence of performance after the IPO date. The results show that the performance of IPO firms is more sensitive to the fear of the pandemic than the performance of similar existing firms.
Full text:
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Collection:
International databases
Database:
MEDLINE
Language:
English
Journal:
Financ Res Lett
Year:
2021
Document Type:
Article
Affiliation country:
J.frl.2021.101977
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