Permalink : http://hdl.handle.net/2115/5385

KEYWORDS : The IPOMarket, Initial Return, Nominal GDP, Real GDP, GDP per Capita, Current Account,Money Supply, CPI, Macro-Economy and Econometrics

This thesis looks into the relationship between Initial Returns of the IPO Market and Macro-Economy in each of 21 countries, that is, Australia, Canada, China, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Mexico, New Zealand, Philippines, Poland, Singapore, South Korea, Spain, Taiwan, Thailand, U.K., and U.S. As the indexes, Macro-Economy, Nominal GDP, Real GDP, GDP per capita, Current Account, Money Supply, and CPI are selected. In addition, there are some dummy variables; for example, the cultural background of each country is considered. (JEL E44, G15, G24)