Information Risk and Long-Run Performance of Initial Public Offerings

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.

Dr. Frank Ecker promovierte bei Prof. Dr. Hellmuth Milde am Lehrstuhl für Geld, Kredit und Finanzierung der Universität Trier. Er ist Assistant Professor of Accounting an der Duke University, Fuqua School of Business, Durham, USA.