Downward-Sloping Demand Curves, the Supply of Shares, and the Collapse of Internet Stock Prices  

Oleh:

Schultz, Paul

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 63 no. 1 (Feb. 2008), page 351-378.
Topik: Downward-Sloping Demand Curves; Supply of Shares; Collapse of Internet; Stock Prices
Fulltext: p 351.pdf (143.1KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

Over March and April 2000, Internet stocks lost 56%, or $700 billion. This sudden collapse has been attributed to an increasing supply of shares from lockup expirations and equity offerings. I show that Internet stocks collapsed in this period regardless of whether their lockups expired. Furthermore, daily Internet stock portfolio returns were almost unaffected by the number or dollar amount of lockup expirations that day, or by the amount of stock offered in IPOs or SEOs. Most of the Internet stock decline is explained by poor marketwide returns, particularly for growth stocks.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali