scholarly journals Sentiment‐scaled CAPM and market mispricing

2021 ◽  
Vol 27 (2) ◽  
pp. 208-243
Author(s):  
John A. Doukas ◽  
Xiao Han
Keyword(s):  
Market Mispricing

The real impact of stock market mispricing — Evidence from Australia

2007 ◽  
Vol 15 (4) ◽  
pp. 388-408 ◽  
Author(s):  
Xin Chang ◽  
Lewis H.K. Tam ◽  
Tek Jun Tan ◽  
George Wong
Keyword(s):  
Stock Market ◽  
The Real ◽  
Market Mispricing

The Real Impact of Stock Market Mispricing - Evidence from Australia

2006 ◽  
Author(s):  
Xin Chang ◽  
Lewis Tam ◽  
Tek Jun Tan ◽  
George Wong
Keyword(s):  
Stock Market ◽  
The Real ◽  
Market Mispricing

What’s Priced? Estimating Market Mispricing of Macroeconomic News

2020 ◽  
Vol 46 (7) ◽  
pp. 72-82
Author(s):  
Kevin Ferriter ◽  
Pierre Sarrau ◽  
Eric Van Nostrand
Keyword(s):  
Macroeconomic News ◽  
Market Mispricing

scholarly journals Factors Influencing IPO Decisions. Do Corporate Managers Use Market and Corporate Timing? A Survey

2014 ◽  
Vol 42 (1) ◽  
pp. 30-39 ◽  
Author(s):  
Adam Szyszka
Keyword(s):  
Initial Public Offerings ◽  
Stock Exchange ◽  
Going Public ◽  
Public Offerings ◽  
Corporate Managers ◽  
Market Mispricing ◽  
Corporate Decisions ◽  
Factors Influencing ◽  
Warsaw Stock Exchange ◽  
Do So

Abstract This paper explores the motives for Initial Public Offerings (IPOs); that is, whether market mispricing or the behavioral inclinations of investors and analysts impact corporate decisions about rising equity, with a particular focus on market and corporate timing practices of managers going public. To do so, an anonymous survey was conducted of 166 managers of firms that recently went public at the Warsaw Stock Exchange in Poland (being the second most active IPO market in Europe, after London). The resulting data reveals that managers attempt to time bullish markets and good historical corporate financial results.

scholarly journals The Effects of Financial Derivatives on Earnings Management and Market Mispricing

2019 ◽  
Vol 21 (3) ◽  
pp. 289
Author(s):  
Oktavia Oktavia ◽  
Sylvia Veronica Siregar ◽  
Ratna Wardhani ◽  
Ning Rahayu
Keyword(s):  
Earnings Management ◽  
Stock Returns ◽  
The Philippines ◽  
Financial Derivatives ◽  
Earnings Expectations ◽  
Market Mispricing ◽  
Hedge Accounting ◽  
Country Analysis ◽  
The Difference ◽  
Flow Components

This study aims to examine the effects of financial derivatives on earnings management and market mispricing. A cross-country analysis was applied within the scope of four ASEAN (Association of Southeast Asian Nations) countries that comply with IAS 39, consisting of the Philippines, Indonesia, Malaysia, and Singapore. A sample of 1,395 firm-years of companies using financial derivatives were engaged for study and the evidence shows that the use of financial derivatives for hedging purposes decreases the magnitude of the earnings management. In addition, this study also supports the idea that earnings expectations embedded in the stock returns of companies using financial derivatives, that meet the hedge accounting criteria, reflect the difference in the persistence of cash flow components more accurately than those using financial derivatives for speculative purposes.

Valuation Uncertainty and Short-Sales Constraints: Evidence from the IPO Aftermarket

2021 ◽  
Author(s):  
Panos N. Patatoukas ◽  
Richard G. Sloan ◽  
Annika Yu Wang
Keyword(s):  
Detailed Analysis ◽  
Initial Public Offering ◽  
Equity Market ◽  
Short Sales ◽  
Market Data ◽  
Market Mispricing ◽  
Valuation Uncertainty ◽  
Public Offering ◽  
Lockup Expiration

We use the initial public offering (IPO) setting to provide evidence that the combination of valuation uncertainty and short-sales constraints generates significant equity market mispricing. The IPOs that we predict to be most susceptible to overpricing in the immediate aftermarket have first-day returns of +47% and lockup expiration returns of [Formula: see text]9%. Our detailed analysis of securities lending market data confirms that these IPOs experience severe short-sales constraints that peak around the lockup expiration. Our paper both explains the anomalous pricing of IPOs and highlights the importance of valuation uncertainty and short-sales constraints in explaining equity mispricing. This paper was accepted by Brian Bushee, accounting.

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