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Vol. 32 >
Realities in Tokyo Stock Exchange
Title: | Realities in Tokyo Stock Exchange |
Authors: | Kirkulak, Berna Browse this author |
Keywords: | IPO,TokyoStock Exchange |
Issue Date: | Jul-2003 |
Publisher: | Faculty of Economics, Hokkaido University |
Journal Title: | Economic journal of Hokkaido University |
Volume: | 32 |
Start Page: | 151 |
End Page: | 159 |
Abstract: | This paper empirically examines the going public decision of 82 companies in Tokyo Stock Exchange (TSE) Market during 1997-2001 periods. In contrast to Jasdaq OTC market, most retail & wholesale and service companies, rather than IT companies prefer TSE. The empirical evidence of this paper shows that there is also bubble-underpricing phenomenon in TSE particularly in 1999. This study reports that IPO listed in TSE are generally old and high-sales firms. Moreover, it is remarkable to note that most of IPOs are managed with traditional style that major shareholder and CEO are same persons. (JEL G32, G24) |
Type: | bulletin (article) |
URI: | http://hdl.handle.net/2115/5384 |
Appears in Collections: | Economic Journal of Hokkaido University > Vol. 32
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