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Realities in Tokyo Stock Exchange

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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)
Appears in Collections:Economic Journal of Hokkaido University > Vol. 32

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