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A vibrant new economy sector in Australia emerged during thelast decade of the 20th century. Australian new economy companiesoperate in an array of industries, including software andtechnology hardware development and biotechnology research. Thisbook provides a systematic analysis of the characteristics andshare returns performance of new economy companies in Australia.Initial and long-term returns of new economy companies listedduring the hot-issue market prior to April 2000 and during thesubsequent cold-issue market are documented. Publicly availableinformation is used to explain the returns…mehr

Produktbeschreibung
A vibrant new economy sector in Australia emerged during thelast decade of the 20th century. Australian new economy companiesoperate in an array of industries, including software andtechnology hardware development and biotechnology research. Thisbook provides a systematic analysis of the characteristics andshare returns performance of new economy companies in Australia.Initial and long-term returns of new economy companies listedduring the hot-issue market prior to April 2000 and during thesubsequent cold-issue market are documented. Publicly availableinformation is used to explain the returns following new economyequity offers. This book also investigates the probability of a neweconomy company going public and the probability of seasoned equityoffers by sucessfully listed new economy companies. The resultsshould be of interest to anyone involved in empirical research infinance as well as to investors seeking diversification into newindustries and markets.