Do Ipos Affect the Prices of Other Stocks? Evidence from Emerging Markets

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dc.contributor.authorMatías Braun
dc.contributor.authorBorja Larraín
dc.coverage.spatialBolivia
dc.date.accessioned2026-03-22T15:03:33Z
dc.date.available2026-03-22T15:03:33Z
dc.date.issued2009
dc.descriptionCitaciones: 9
dc.description.abstractWe show that the introduction of a large asset permanently affects the prices of existing assets in a market. Using data from 254 initial public offerings (IPOs) in 22 emerging markets, we find that portfolios that covary highly with the IPO experience a decline in prices relative to other portfolios during the month of the issue. The effects are stronger when the IPO is issued in a market that is less integrated internationally and when the IPO is bigger. This evidence is consistent with the idea that shocks to asset supply have a significant effect on asset prices.
dc.identifier.urihttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=1365689
dc.identifier.urihttps://andeanlibrary.org/handle/123456789/50138
dc.language.isoen
dc.publisherRELX Group (Netherlands)
dc.relation.ispartofSSRN Electronic Journal
dc.sourceUniversidad de Los Andes
dc.subjectInitial public offering
dc.subjectAsset (computer security)
dc.subjectMonetary economics
dc.subjectBusiness
dc.subjectEmerging markets
dc.subjectAffect (linguistics)
dc.subjectFinancial economics
dc.subjectEconomics
dc.subjectFinancial system
dc.titleDo Ipos Affect the Prices of Other Stocks? Evidence from Emerging Markets
dc.typearticle

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