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dc.title | How does uncertainty impact IPO activity? International evidence | en |
dc.contributor.author | Demir, Ender | |
dc.contributor.author | García-Gómez, Conrado Diego | |
dc.contributor.author | Díez-Esteban, José María | |
dc.contributor.author | Farinha, Jorge Bento | |
dc.relation.ispartof | Finance Research Letters | |
dc.identifier.issn | 1544-6123 Scopus Sources, Sherpa/RoMEO, JCR | |
dc.identifier.issn | 1544-6131 Scopus Sources, Sherpa/RoMEO, JCR | |
dc.date.issued | 2023 | |
utb.relation.volume | 58 | |
dc.type | article | |
dc.language.iso | en | |
dc.publisher | Elsevier Ltd | |
dc.identifier.doi | 10.1016/j.frl.2023.104517 | |
dc.relation.uri | https://doi.org/10.1016/j.frl.2023.104517 | |
dc.relation.uri | https://www.sciencedirect.com/science/article/pii/S1544612323008899 | |
dc.relation.uri | https://www.sciencedirect.com/science/article/pii/S1544612323008899/pdfft?md5=ea17196c0ca6b2206e1a65174ccf1372&pid=1-s2.0-S1544612323008899-main.pdf | |
dc.subject | world uncertainty index | en |
dc.subject | IPO activity | en |
dc.subject | IPO proceeds | en |
dc.subject | institutional quality | en |
dc.description.abstract | This paper examines the impact of economic uncertainty on IPO activity in 52 countries. Using a dataset of 70,760 IPOs from 1990 to 2021, we find that economic uncertainty (proxied by the World Uncertainty Index) has a negative effect on IPO activity (both IPO count and proceeds). Additionally, we show that a country's institutional quality, characterized using the World Governance Indicators, alleviates the negative effect of uncertainty on IPO activity. These findings are robust to alternative model specifications. Relevant policy implications are also provided. | en |
utb.faculty | Faculty of Management and Economics | |
dc.identifier.uri | http://hdl.handle.net/10563/1011718 | |
utb.identifier.obdid | 43884990 | |
utb.identifier.scopus | 2-s2.0-85173781324 | |
utb.identifier.wok | 001098491700001 | |
utb.source | j-scopus | |
dc.date.accessioned | 2023-12-05T11:36:34Z | |
dc.date.available | 2023-12-05T11:36:34Z | |
dc.description.sponsorship | Ministry of Science, Innovation, (PID2020-114797GB-I00); Fundação para a Ciência e a Tecnologia, FCT, (UIDB/04105/2020) | |
utb.ou | Department of Business Administration | |
utb.contributor.internalauthor | Demir, Ender | |
utb.fulltext.sponsorship | This research has been financed by Spanish Public Funds through the Ministry of Science, Innovation in the framework of the project PID2020-114797GB-I00 and Portuguese Public Funds through FCT - Fundação para a Ciência e a Tecnologia, I.P., in the framework of the project UIDB/04105/2020. | |
utb.wos.affiliation | [Demir, Ender] Reykjavik Univ, Sch Social Sci, Dept Business Adm, Reykjavik, Iceland; [Demir, Ender] Tomas Bata Univ Zlin, Fac Management & Econ, Dept Business Adm, Zlin, Czech Republic; [Garcia-Gomez, Conrado Diego] Univ Valladolid, Dept Financial Econ & Accounting, Duques de Soria Campus,Calle Univ S-N, Soria 42004, Spain; [Garcia-Gomez, Conrado Diego] Univ Porto, Ctr Econ & Finance CEF UP, Porto, Portugal; [Diez-Esteban, Jose Maria] Univ Burgos, Dept Econ & Business Adm, Pza Infanta Elena, Burgos 09001, Spain; [Farinha, Jorge Bento] Univ Porto, Fac Econ, Rua Roberto Frias, P-4200464 Porto, Portugal; [Farinha, Jorge Bento] Univ Porto, Ctr Econ & Finance CEF UP, Rua Roberto Frias, P-4200464 Porto, Portugal | |
utb.scopus.affiliation | Department of Business Administration, School of Social Sciences, Reykjavik University, Reykjavik, Iceland; Department of Business Administration, Faculty of Management and Economics, Tomas Bata University in Zlin, Zlin, Czech Republic; Department of Financial Economics and Accounting, University of Valladolid, Duques de Soria Campus, Calle Universidad s/n, Soria, 42004, Spain; Center for Economics and Finance (CEF-UP), University of Porto, Porto, Portugal; Department of Economics and Business Administration, University of Burgos, Pza, Burgos, Infanta Elena, 09001, Spain; Faculty of Economics and Center for Economics and Finance (CEF-UP), University of Porto, Rua Roberto Frias, Porto, 4200-464, Portugal | |
utb.fulltext.projects | PID2020-114797GB-I00 | |
utb.fulltext.projects | UIDB/04105/2020 |