Understanding First-Day Returns of Hospitality Initial Public Offerings

Topics:
Lodging
Tags:
Cornell University,
Finance,
Financial Planning,
Financial Services,
Investment,
IPO
Source:
Cornell University

Vendor Registration: required

Overview: This paper helps in understanding the economic rational behind the hospitality industry's Initial Public Offering (IPO) process. The paper makes clear the reasons as to why under-pricing is a necessity evil for managers of private hospitality firms if they choose to go public. It provides an empirical characterization of first-day IPO returns for the lodging and restaurant industries.

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Format: PDF | Size: 219KB | Date: Sep 2004 | Pages: 26

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