Financial regulation and IPOs: Evidence from the history of the Italian stock market

被引：46

作者：

Cattaneo, Mattia ^{[1
]}

Meoli, Michele ^{[1
]}

Vismara, Silvio ^{[1
]}

机构：

[1] Univ Bergamo, Dept Econ & Technol Management, Bergamo, Italy

来源：

JOURNAL OF CORPORATE FINANCE | 2015年 / 31卷

关键词：

IPO; Regulation; Survival; Investor protection; Italy; SURVIVAL; PERFORMANCE; DISCLOSURE; EXCHANGE; BENEFITS; POLITICS; ISSUES; COSTS; ACT;

D O I：

10.1016/j.jcorpfin.2015.02.001

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper studies the impact of regulation on IPO markets using historical data. Regulatory interventions have different effects on the development of public equity markets under different conditions. Studying the whole population of 879 Italian IPOs from the unification of Italy (1861) through the present, we find that tightening regulatory changes improve IPO survival rates. In contrast, easing of regulations tends to harm IPO survival rates, without increasing the number of IPOs. (C) 2015 Elsevier B.V. All rights reserved.

引用

页码：116 / 131

页数：16

共 50 条

[1] Pricing and performance of IPOs: Evidence from Indian stock market
Hawaldar, Iqbal Thonse
Kumar, K. R. Naveen
Mallikarjunappa, T.
[J]. COGENT ECONOMICS & FINANCE, 2018, 6 (01):
[2] Capital gains taxation and stock market activity: Evidence from IPOs
Reese, WA
[J]. JOURNAL OF FINANCE, 1998, 53 (05): : 1799 - 1819
[3] Trusting the stock market: Further evidence from IPOs around the world
Kanagaretnam, Kiridaran
Lee, Jimmy
Lim, Chee Yeow
Lobo, Gerald J.
[J]. JOURNAL OF BANKING & FINANCE, 2022, 142
[4] The Relevance of Accounting Information in a Stock Market Bubble: Evidence from Internet IPOs
Bhattacharya, Nilabhra
Demers, Elizabeth
Joos, Philip
[J]. JOURNAL OF BUSINESS FINANCE & ACCOUNTING, 2010, 37 (3-4) : 291 - 321
[5] The history of the Italian financial market
Coltorti, F
[J]. PONTE, 2002, 58 (05) : 103 - 108
[6] Financial Constraints and Stock Returns: Evidence from Stock Market in China
Ling Zhi-xiong
Chen Si-yu
[J]. 2012 INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE & ENGINEERING, 2012, : 1422 - 1428
[7] An investigation of stock market volatility: evidence from Dubai financial market
Salameh, Hussein Mohammad
Alzubi, Bashar
[J]. JOURNAL OF ECONOMIC AND ADMINISTRATIVE SCIENCES, 2018, 34 (01) : 21 - 35
[8] Study on Financial Market Segmentation in China: Evidence from Stock Market
Wang Xiaoyan
Hu Debao
[J]. PROCEEDINGS OF 2013 INTERNATIONAL SYMPOSIUM - INTERNATIONAL MARKETING SCIENCE AND INFORMATION TECHNOLOGY, 2013, : 44 - +
[9] THE EFFICIENT MARKET AND FINANCIAL BUBBLES: EVIDENCE FROM VIETNAMESE STOCK MARKET
Le Bao Thy
Huynh Nguyen Minh Tam
Pham Ngoc Ai Nhi
[J]. FINANCE AND PERFORMANCE OF FIRMS IN SCIENCE, EDUCATION, AND PRACTICE, 2017, : 481 - 500
[10] Discussion of The Relevance of Accounting Information in a Stock Market Bubble: Evidence from Internet IPOs
Simpson, Ana
[J]. JOURNAL OF BUSINESS FINANCE & ACCOUNTING, 2010, 37 (3-4) : 322 - 331

← 1 2 3 4 5 →