Long-run survival and performance of Australian dot.com IPOs

Adam Steen, James Murray

Research output: Book chapter/Published conference paperConference paper

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Abstract

This paper explores the long-run survival and sharemarket performance of companies which made an Initial Public Offer (IPO) around the time of the sharemarket correction in 2000. Unlike other studies we do not find evidence to support the proposition that dot.coms failed more frequently than non-dot.com stocks. Results were not sensitive to listing pre or post correction. Further, we do not find the average market adjusted returns of non-dot.com stocks significantly outperformed those of dot.com stocks. These findings overturn conventional thinking with regards to the dot.com bubble and warrant further investigation.
Original languageEnglish
Title of host publicationAFAANZ Conference 2013
Place of PublicationAustralia
PublisherAFAANZ
Pages1-19
Number of pages19
Publication statusPublished - 2013
EventAccounting and Finance Association of Australia and New Zealand Conference - Perth, Australia
Duration: 07 Jul 201309 Jul 2013

Conference

ConferenceAccounting and Finance Association of Australia and New Zealand Conference
CountryAustralia
Period07/07/1309/07/13

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