文章基本信息

标题：SB IPOs and IPO Anomalies: An Empirical Analysis of the Small Firm Uniqueness Hypothesis
本地全文：下载
作者：Brau, James C. ; Carpenter, C. Troy
期刊名称：The Journal of Entrepreneurial Finance
印刷版ISSN：2373-1753
电子版ISSN：2373-1761
出版年度：2013
卷号：16
期号：2
页码：75-96
出版社：Pepperdine University
摘要：The purpose of this paper is to provide a direct test of the small-firm uniqueness hypothesis advanced by Ang (1991). We do this by using the 5B-IPO program of the SEC as our instrument to define a small firm. Having identified small firms, we test the three IPO anomalies to see if small firms differ from large firms along these dimensions. We find that 5B IPOs experience the three anomalies; however, they do so in disparate ways than mainline IPOs do. In sum, we provide support for the small firm uniqueness hypothesis.
关键词：IPO; Initial Public Offering; Anomalies; Small Firm Uniqueness; SB-2