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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PERIOD 1‚ US HISTORY ACC. Question: To what extent was the Reconstruction a failure? Reconstruction was the period directly after the end of the Civil War (1865-1877). This era was a necessary time for the United States to restore the divided nation. The eleven rebel states that had been defeated leaving the government unsure weather to punish or pardon them. In Reconstruction era‚ the three goals emerged from the federal government: rebuild the South‚ provide and protect freedman’s
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change phenomenon can affect everything in the world not only natural environment‚ but also human society‚ and the world economy. This essay aims to evaluate the role of human actions that have caused the climate change. The first part of this essay will talk about the possible causes of climate change‚ and the second part will discuss the role of human activity‚ which is cause the climate change. The factors that can cause the climate to change possibly come from natural events and human activity
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How the Cell Phone has Changed our Lives The cell phone‚ or mobile phone‚ has become a large part of our American culture. You see them wherever you go‚ and in the hands of every group dynamic. This technology seems to have appeared overnight‚ and it is probably going to be with us for a very long time. They are used for both personal and business demand‚ and have an interesting future as well. Our lives have changed quite dramatically with the invention of the cell phone‚ with both good and arguably
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The role of government has changed in the U.S. since 1900 as evidenced by transportation‚ education‚ and food safety. Transportation has changed in the US since the 1900’s‚ making it safer and more efficient to travel across the country. The Clean Air Act was enacted in 1963. It implements stricter emission standards for vehicles. This meant that car manufacturers had to develop and produce vehicles that emitted fewer pollutants into the air. Additionally‚ the development of cleaner fuels‚ such as
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Jada Pickett November 2012 Sillery Male Bashing on T.V In an article written in 2003 by Michael Abernethy entitled Male Bashing on TV‚ the author laments about the negative stereotype depicted by the media of men. In order to gain a better understanding of the effects of Male Bashing on TV‚ people need to understand the consequences on the male bashing. The constant denigration of men in the media will lead to problems in the future; specifically‚ the loss of self-esteem‚ the way children
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Electronic mail messaging has been around for over 30 years‚ used by government officials and the like as a means of sending and receiving data. It was not until the early 90’s that e-mail became a tool used by the masses. “Electronic mail is a natural use of networked communication technology that developed along with the evolution of the Internet.” (Crocker). With the release of the Internet as a global medium‚ it became possible to exchange information electronically and instantly in the form
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soldiers returning from war with months of wages to spend and many new products on the market that was new since their departure for Europe‚ the economy boomed from the movement of money. Partying became a big social past time during the 20’s. Before the 20’s people did not throw big lavish parties without having a reason other than wanting to party. This can be seen in the movie‚ The Great Gatsby‚ where billionaire Jay Gatsby a fictional character‚ made up by F. Scott Fitzgerald threw lavish partied
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To What Extent is Lysistrata a feminist play In the play Lysistrata‚ women have absolutely no political rights. There is a war going on and one woman wants to put an end to it. It is my opinion the character Lysistrata can be viewed as a modern day feminist. She takes charge in the self-titled play and claims that war shall be the concern of Women! It is too important a matter to be left to men‚ for women are its real victims. Lysistrata wants to end the long war for it is taking a toll against
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Gender differences in language use that Tannen discusses reflect traditional female and male roles and expectations in some aspects. Firstly‚ each gender seems to make divergent assumption about conversation’s purpose. Take‚ for example‚ from a woman perspective‚ you ask for help‚ you will get it‚ and you will get to the right place where you want to go. The conversation is experienced with pleasure. However‚ to a man’s point of view‚ he would never to show his ignorance to ask for information
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