Both authors are from the Jesse H. Jones Graduate School of Administration, Rice University. This paper has benefited from the comments of Rashad Abdel-khalik, Amir Barnea, David Dubofsky, Gene Finn, Steve Kane, Josef Lakonishok, Scott Lee, Arvind Mahajan, Tim Opler, Richard Shockley, Meir Statman, Kay Stice, the editor René Stulz, Harry Tutwiler, and an anonymous referee. We particularly appreciate the comments of Tim Loughran and Jay Ritter and thank them for sharing their data on initial and seasoned equity offerings with us. This paper has been presented at the November 1994 Seminar on the Analysis of Security Prices at the University of Chicago, the 1994 Texas Finance Symposium, Rice University, Texas A&M University, the University of Houston, and the University of Texas at Austin. We appreciate the research assistance of Vijayshankar Balaji and Haiming Xu.
The Long-Run Negative Drift of Post-Listing Stock Returns
Version of Record online: 30 APR 2012
© 1995 the American Finance Association
The Journal of Finance
Volume 50, Issue 5, pages 1547–1574, December 1995
How to Cite
DHARAN, B. G. and IKENBERRY, D. L. (1995), The Long-Run Negative Drift of Post-Listing Stock Returns. The Journal of Finance, 50: 1547–1574. doi: 10.1111/j.1540-6261.1995.tb05188.x
- Issue online: 30 APR 2012
- Version of Record online: 30 APR 2012
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