Description : In this timely volume on newly emerging financial mar- kets and investment strategies, Arvin Ghosh explores the intriguing topic of initial public offerings (IPOs) of securities, among the most significant phenomena in the United States stock markets in recent years. Before the 2000-2001 market turndown, hardly a week went by when more than a few companies did not become public, either in the organized stock exchange or in the Over the Counter (OTC) market. In the often over-burdened, technology-heavy Nasdaq market, the role of IPOs was crucial for the market's new vigor and growth. Internet stocks were able to find a mode to supply key momentum to the market. In the so-called "New Economy" of the 1990s, it was the seductively accessible IPO that ushered in the world's information technology revolution.Ghosh sets out to examine the pricing and financial performance of IPOs in the United States during the period 1990-2001. In the opening chapter he discusses the rise and fall of IPOs in the preceding decade. Chapter 2 further delineates the IPO process from the start of the prospectus to the end of the "quiet period" and aftermarket stabilization. In chapter 3 Ghosh analyzes the mispricing and deliberately deceptive underpricing, or "flipping," of Internet IPOs. Chapter 4 delves deeper into the pricing and operating efficiency of Nasdaq IPOs. Chapter 5 analyzes the pricing and long-run performance of IPOs both in the New York Stock Exchange and in the Nasdaq markets. In chapters 6 and 7 the author deals with the pricing and performance of the venture-blocked and nonventure-backed IPOs in general and Internet IPOs in particular. In chapter 8 he analyzes the role of underwriters as market makers. In chapter 9 Ghosh discusses the accuracy of analysts' earnings forecasts. In the concluding chapter, he summarizes the principal findings of the study and the recent revival of the IPO market and its place in capital formation as well as the latest developments in t
Description : One of the biggest casualties of the aftermath of the dot com bubble was the IPO market. The early part of this century saw minimal IPO activity all over the world especially in western stock markets such as those of the UK and the US. However, for the last two or three years both firms considering an IPO and potential investors in those firms are back in business. 'The Investor's Guide to IPOs' is primarily written to benefit investors who wish to gain an in-depth understanding of the IPO market and to profit from investing in this market. The main aim of the book is to provide information on some fundamental questions related to investment in IPO markets such as how to pick up a good IPO investment and when is a good time to sell IPO shares. The book not only covers issues such as how to make an investment in the IPO market, it also throws light on what happens once an investment has been made.
Description : After the cooling off of IPOs since the dot com bubble, Google has rekindled the fire for IPOs. This IPO reader contains new articles exclusive to this reader by leading academics from around the world dealing with quantitative and qualitative analyses of this increasingly popular and important area of finance. Articles address new methods of IPO performance, international IPOs, IPO evaluation, IPO underwriting, evaluation and bookbuilding. Although numerous articles are technical in nature, with econometric and statistical models, particular attention has been directed towards the understanding and the applicability of the results as well as theoretical development in this area. This reader will assist researchers, academics, and graduate students to further understand the latest research on IPOs. *Interest in IPOs is increasing again after the Google IPO, and IPOs are up significantly from last year *Chapters by well known academics provide an international perspective, describing research results from IPO data in countries spanning the globe *Research is based on real results from IPO data collected over the past 5-7 years
Description : Frank Ecker examines the performance of U.S. initial public offerings (IPOs) from 1980 to 2002. He links positive and negative abnormal returns to the deviation of the realized information risk from the expected information risk. The author proposes effective measures for a long-term profitable investment strategy in IPOs.
Description : Many of today's business leaders champion learning as essential to business success, backing their belief with massive investments in Training and Development (T&D). In fact, T&D investments reach $56 billion per year in the U.S. alone. In this era of unprecedented opportunity, the time is right for T&D to become a full-fledged "player" in the world of business. At issue, the authors contend, is T&D's inability to seize this opportunity and deliver unmistakable value to its most influential customers-the exectuvies who pay for trainiing services but are unable to see clear business value being returned on their companies' training investments. The authors also contend that T&D must alter the traditional precepts that keep it "separate form the business" and "out of the loop" strategically. Van Adelsberg and Trolley suggest that the key to delivering unmistakable business value lies in transforming T&D-in spirit and in practice-from a funciton to a business. The authors draw on their experiences working inside Moore Corporation, DuPont, Mellon Bank, Kaiser Permanente, Texas Instruments, and other top businesses to illustrate how "Running Training Like a Business": 1. Eliminates the many hidden costs of training; 2. Re-focuses T&D from delivering training content to addressing business issues; 3. Makes T&D a full stategic partner in business decision making; 4. Ensures that training measurement is "baked in, not bolted on"; 5. Improves the effectiveness and efficiency of internal and/or external T&D organizations. Trolley and van Adelsberg lead the reader through a proven four-step process for transforming traditional training organizations into training enterprises capable of delivering unmistakable value, quarter after quarter and year after year.
Description : What are the economic prospects for Britain and the other major world economies over the coming years? Creating sustained economic growth and tackling unemployment remain centre-stage in economic policy debate across the globe - and look set to remain there for the foreseeable future. Thisbook represents a major new contribution to the analysis of these issues, and to the debate on appropriate policy options.A key obstacle to the restoration of full employment is the erosion of industrial capacity to the point where it is no longer adequate for employing the available workforce, even if the necessary demand for the output is there. rebuilding that capacity is essential if demand is to be allowed toincrease sufficiently to bring levels of unemployment significantly below those prevailing in recent years. Decisions on capacity rest on demand prospects, while demand management is inhibited by fears that capacity shortages will lead to renewed inflation.The particular problems, and the differing contexts for policy action, in Britain, the European Union, the US and Japan are all analysed in separate chapters.In addition to a close scrutiny of the evidence and arguments about capacity problems, the book looks more widely to issues of business systems, City-industry relations, and the role of international business and governance systems in shaping economic and industrial policy.The book is divided into four main sections: Demand, Capacity, and Employment; Industrial Problems and Policies; International Lessons and Policy; Directions for Policy.This book will inform economic policy debates on both sides of the Atlantic. It will be useful reading for students of macro- and industrial economics, and for all those interested in the business or economic environment.
Description : "This book provides one of the clearest treatments of correlations and regression of any statistics book I have seen. . . . Bobko has achieved his objective of making the topics of correlation and regression accessible to students. . . . For someone looking for a very clearly written treatment of applied correlation and regression, this book would be an excellent choice." --Paul E. Spector, University of South Florida "As a quantitative methods instructor, I have reviewed and used many statistical textbooks. This textbook and approach is one of the very best when it comes to user-friendliness, approachability, clarity, and practical utility." --Steven G. Rogelberg, Bowling Green State University