Date of Award
Spring 2005
Document Type
Dissertation
Degree Name
Doctor of Philosophy (PhD)
Program/Concentration
Business Administration-Finance
Committee Director
Mohammad Najand
Committee Member
Kenneth Yung
Committee Member
Vinod Agarwal
Abstract
Internet related firms experienced an extremely high degree of underpricing in the year 1999 and 2000; 40 percent more than underpricing of Non-Internet firms. Two explanations for this phenomenon are examined: the changing-risk composition hypothesis and overreaction hypothesis. Empirical tests are conducted in three stages: first trading day, short-term, and long-term performances. The results are consistent with both hypotheses, and the high initial returns for Internet firms are explainable by investors' overreaction and the firm's high uncertainties.
Rights
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DOI
10.25777/6kcp-mb64
ISBN
9780542157417
Recommended Citation
Fan, Yuhong.
"Operating Measures, IPO Valuation, and After Market Performance-Perspective From Internet Bubble Period"
(2005). Doctor of Philosophy (PhD), Dissertation, , Old Dominion University, DOI: 10.25777/6kcp-mb64
https://digitalcommons.odu.edu/businessadministration_etds/83