An Analysis of Bond Investment Company Initial Public Offerings: Past and Present |
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| Authors: | Seth C. Anderson Jeffery A. Born T. Randolph Beard |
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| Affiliation: | Huntingdon College, Montgomery, AL 36106.;Northeastern University, Boston, MA 02115.;Auburn University, Auburn, AL 36849. |
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| Abstract: | ![]()
In this study, we investigate the return behavior of bond investment company initial public offerings (IPOs). Samples of these IPOs collected for the periods 1973–1976 and 1986–1987 exhibited negative returns to investors. The findings are in contrast to those usually reported for IPOs but are consistent with those recently reported for equity investment company IPOs. |
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