The effect of geographic dispersion on the initial and long-run ipo performance
| Title | The effect of geographic dispersion on the initial and long-run ipo performance |
|---|---|
| Author | Özdemir, Özgür |
| Publication Date: | 2017-09 |
| Publication Place | - Sage |
| Subject | Initial public offering, Stock returns, Valuation, Geographic dispersion |
| Type | Periodical |
| Language | English |
| Digital | Yes |
| Manuscript | No |
| Library: | Özyeğin University |
| Library Asset ID | 1096-3480 |
| Record ID | 29a6c334-58c0-41d2-bc77-d8f3257933e3 |
| Library Location | Hotel Management |
| Date | 2017-09 |
| Notes | Due to copyright restrictions, the access to the full text of this article is only available via subscription. |
| Sample Text | This study examines the effect of geographic dispersion on the short-run and long-run initial public offering (IPO) performance of restaurant firms. Sample of the study consists of 103 restaurant IPOs conducted between 1981 and 2011. The study finds that being geographically dispersed or concentrated in a small area does not lead to a significant difference in the initial returns of restaurant IPOs. Yet the analysis shows that restaurant firms with geographically dispersed operations have significantly higher long-run returns in the post-IPO period compared with their local counterparts. This is evidenced by the significantly larger cumulative abnormal returns for geographically dispersed restaurant firms in the post-IPO period. |
| DOI | 10.1177/1096348014563395 |
| Cilt | 41 |
