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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God appears to have changed throughout the book of Hosea. For anyone else this would not be a problem‚ but for a christian‚ God is perfect‚ unchanging‚ eternal‚ and the thought of God changing could be troubling. Hebrews 13:8 says “Jesus Christ is the same yesterday and today and forever.” The big question for christians pertaining to Hosea is‚ does God change‚ and in what ways does he or does he not? Based on the verse quoted above‚ God does not change‚ but Hosea contradicts that statement. God
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documentaries about ghost‚ dead people walking‚ zombies‚ but we never believed them. We heard on news about some celebrities getting some surgeries to change themselves‚ such as Michael Jackson who changed from black man to white man or someone who was from man to woman. However‚ can humans be reborn? This question has been asked for years can you call yourself reborn after an accident? Yes‚ I was reborn‚ I faced death‚ I was born again as another person‚ I see from different eyes. I was so happy that I
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ten years in prison as a result of these crimes. These events all acted to bring Malcolm into a deeper state of turmoil. They were all related because of they were the direct result of the oppression of his race. However‚ it was prison that truly changed Malcolm.
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I have been living in Venice for the last 15 years and know almost every street of this city. The city I knew the first time I came here is far more different than the city has evolved now. The north part of the city has changed more than any part of the city and still changing. When I first visited this part of the city‚ it was mostly an open space that had lots of fields‚ trees and a very minimum number of dwellers. There were hardly any high rising building and mostly farmers and fishers lived
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Has the teaching of mathematics changed over time? Mathematics is considered to be the oldest academic known to mankind. The changes in the teaching of mathematics run parallel to the history of the development of mathematical knowledge itself. By examining the history of this knowledge‚ we can see that it has been shaped by the necessities of different cultures and societies‚ the philosophies surrounding it and the psychology behind it. Although the structure of the teaching of mathematics has remained
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Literature in America has vastly changed throughout history. The beginning of the evolution of literature started in colonial times when the english came to America. If a person of a different ethnicity founded America‚ how different would literature be today? American literature began with the writings of Native Americans. There was no written literature in the Indian culture‚ mainly because of how many different groups and tribes there were speaking different laguages. Because of the 500 different
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How Has The Perspective of Women Sports Change Over Time? Many years ago and until recently people did not really accept the fact that women could play sports as well as men‚ or even play at all. Over the years‚ people started to accept some women as athletes at some sports‚ but not all of them. Sports like rugby‚ football and handball were only played by men. Nowadays‚ however‚ you could easily find a women playing football and many other sports they never used to play better
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TO WHAT EXTENT IS UTILITARIANISM COMPATIBLE WITH CHRISTIANITY The main idea of utilitarianism (U) is to create ‘the greatest pleasure for the greatest number of people’. This is similar to Christianity and the golden rule ‘love your neighbour as yourself’. With situation ethics‚ in a dilemma you should always do the most loving and compassionate thing. However in contrast to the utilitarian idea that you should try and greatest happiness for the most people‚ Christian ethics would look at everyone
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Question:”Traditional marriage is an outdated concept”To what extent is this true in your society. Marriage is defined as a man and woman being together by legal ties. Although the world are becoming modern nowadays. The concept of traditional marriage is still being practiced. The beauty of marrying opposite gender ‚the construction of family tree and the responsibilities in a marriage world remains unchanged as the time passes. However‚ there is a side effect of the modernity that has defeat the
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