Why Has IPO Underpricing Changed Over Time? Tim Loughran and Jay Ritter* lu the l9SOs. the average first-day rcliirn on inilial public offerings (IPOs) was 7%‚ The average firsl-day return doubled to almost I5 ’ ’ ’i during 1990-1998. before jumping to 65% during Ihe internet bubble years of 1999-2000 and then reverting la / i % during 2001-2003. We attribute much of the higher underpricing during the bubble period to a changing issuer objective function. We argue that in the later periods there
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Throughout history the world has witnessed acts of terrorism motivated by different groups of individuals fighting for a multitude of causes. These individuals have come from various races‚ religions‚ and ethnicities. Yet as different as they appear to be‚ we can still find similarities between them‚ for instance‚ groups such as the Tupamaros in Uruguay‚ the Ku Klux Klan in the United States‚ and the Irish Republican Army are motivated by vastly different beliefs which they consider a justification
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show how global warming has changed over the past 50 years and to illustrate how human activities have contributed to global warming‚ while providing recommendations to minimize its effects. Introduction Since its conception‚ global warming has been one of the most controversial topics debated among many scientist and politicians. For the past twenty (20) years‚ the controversy surrounding the issue is whether or not we as humans have in fact created the proposed
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It happened on September of 2014‚ the year that changed my life forever. I moved from Honduras to United States. From a small country to one of the biggest countries in the world. It was‚ still is‚ a different environment from living in a big city to a “small” city in the south of the United States. I left all my friends‚ family‚ and college studies. I left everything behind. It all happened so fast‚ my mother told my brother‚ Samuel‚ and I‚ “Would you like live in the United States?” The answer
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in the Database Marketing Program efforts rather than observed level of play. The prediction of Customer worth with the help of quantitative models helped them to build relationships with Customers based on their future worth rather than their past behaviors. For example‚ with the help of observed level of play‚ they were able to predict the customer’s behavior in their Casino only. Based on this observation they could not infer how worthy the customer was to their Casino. With the help of prediction
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Does cell phone use really affect our communication skills? Cartoon by Izzy Peterson by Erin Stewart‚ Editor November 25‚ 2013 Filed under Fall 2013‚ Story Cycle 4‚ Features‚ Opinion‚ Showcase The short URL of the present article is: http://lhslance.org/bKUbA We live in a world where communication through modern technology is almost required. Everywhere people are texting‚ emailing‚ writing blogs and tweeting. It’s hard to go anywhere without seeing someone using a phone or the Internet
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Next 25 Years" by Irving H Buchen‚ he predicts changes that will take place in the next 25 years. He believes that new techniques will solve budget problems facing schools‚ and also believes these new techniques will be more effective then the more expensive methods used today. Buchen says that changes will be made by choice and "fueled by changing roles for teachers‚ administrators‚ students and the entire communities." (Buchen 299) Buchen states if we could look into the future 25 years
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because most people in Medieval Europe were Christian. Having a Cathedral attracted the Christians to the city to worship God in an astonishing environment. To this day‚ over three thousand people have been buried there and thirty-nine people have been coronated to the throne in the Westminster Abbey. Construction styles changed several times since the Westminster Abbey was established in 960 A.D. The Westminster Abbey has been the site for coronations of kings‚ queens‚ and accomplished
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Radio Entertainment In 1920s "Video Killed the Radio Star" is the debut song of The Buggles released September 7th 1979 but‚ did not make an impression on the general public until its release as the debut video on MTV at 12:01 August 1st 1981‚ almost 100 years after the invention of radio. Henirich Hertz‚ a German Physicist‚ created the foundation of radio in 1886 by proving that electric waves could be transmitted and received without the need of a physical medium (Spiker 2). Nokolai Tesla expanded
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New Year resolutions? How many of you stick to your New Year resolutions? It is not very surprising to see lesser number of hands. Research has shown that 90% of the people give up on their New Year’s resolutions‚ before the end of January and guess what‚ majority of the remaining 10% give up before the end of the year. The initial enthusiasm you see in January vanishes soon like a piece of butter placed on a hot pan. Today‚ I’m going to give you some tips to effectively reach your New Year resolutions
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