Underpricing of newly issued corporate bonds in the CEE markets
AbstractIPO anomalies in the corporate debt markets are to great extent unexplored field in the academic literature. The aim of this paper is to investigate the undepricing phenomenon of newly issued corporate bonds on the Catalyst market and its determinants. I use event study methodology to test for underpricing and perform regressions to find its determinants. The sample includes 142 corporate bonds issued between March 2010 and August 2013 and listed on the Catalyst market. The computations confirm the uderpricing effect in the CEE market, however do not allow to indicate its determinants.
|Journal series||European Journal of Economics and Management, ISSN 2056-7375, (0 pkt)|
|Publication size in sheets||0.5|
|Keywords in English||corporate bonds, undepricing anomaly, new issues, IPOs, CEE markets|
|Score|| = 0.0, 09-12-2019, ArticleFromJournal|
= 5.0, 09-12-2019, ArticleFromJournal
|Citation count*||6 (2020-09-10)|
* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.