The initial return performance of UK property company IPOs
Abstract
Presents empirical evidence for a sample of 48 UK property company initial public offerings over the period 1986 to 1995. Several conclusions can be drawn. First, property companies in general show a significantly positive average first day return. Second, property investment companies’ average first day return is not significantly different from zero. Third, property trading companies’ average first day return is significantly positive. Fourth, the higher average first day return of property trading companies over property investment companies is significant.
Keywords
Citation
Sahi, W. and Lee, S.L. (2001), "The initial return performance of UK property company IPOs", Journal of Property Investment & Finance, Vol. 19 No. 2, pp. 127-139. https://doi.org/10.1108/14635780110383677
Publisher
:MCB UP Ltd
Copyright © 2001, MCB UP Limited