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High-Tech IPOs in the US, UK and Europe after the Dot-Com Bubble
| Content Provider | CiteSeerX |
|---|---|
| Author | Inc, Mandiant Nagle, Frank |
| Abstract | From 1998 – 2001, the high-tech industry saw a dramatic increase and subsequent sharp decline in market capitalization during a phenomenon known as the Dot-Com Bubble. During this time there were a large number of private companies that made the decision to go public via an initial public offering (IPO) of stock on the general equities market. After the Dot-Com Burst of 2001, the IPO market for high-tech companies changed dramatically. Far fewer companies went public, and they had much lower first day returns than those during the bubble. This paper will explore the first day returns of high-tech IPOs in the United States and Europe in the post- Dot-Com Bubble era. We compare the results of the 2002-2005 post bubble period with those of the 1998-2001 Dot-Com Bubble period. We find that the high-tech IPO market was dramatically affected by the Dot-Com Crash and that after the crash, the number of high-tech IPOs dropped considerably, as did the average first day returns of these IPOs. Finally, we find that the European high-tech IPO market was not as adversely affected by the Dot-Com Crash as the American market. |
| File Format | |
| Access Restriction | Open |
| Subject Keyword | High-tech Industry High-tech Ipo Market High-tech Ipo High-tech Company Ipo Market Private Company Post Dot-com Bubble Era First Day Return Dot-com Bubble Market Capitalization 2002-2005 Post Bubble Period Dot-com Burst Subsequent Sharp Decline Initial Public Offering American Market General Equity Market Dot-com Crash Average First Day Return European High-tech Ipo Market 1998-2001 Dot-com Bubble Period |
| Content Type | Text |
| Resource Type | Article |
