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Contribution Details

Type Bachelor's Thesis
Scope Discipline-based scholarship
Title News Coverage and IPO Returns Evidence from France
Organization Unit
Authors
  • Nicolò Caprez
Supervisors
  • Per Nils Anders Östberg
Language
  • English
Institution University of Zurich
Faculty Faculty of Business, Economics and Informatics
Number of Pages 24
Date 2016
Abstract Text This study examines the e↵ect of media coverage - separated by international and regional news articles prior to an initial public o↵ering in the French market to the first trading day return. The sample contains 364 o↵erings between January 2000 and December 2015. When testing media coverage for age, o↵er size, price revision and underwriters rank, a very low positive relationship is found only between regional media coverage and return. This may be due to private equity investors forcing the IPO to be highly priced in order to maximise the exit value, rather than to care about trading performance.
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