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PowerPoint slides of Average First-day Returns and Volume, by Year, for Hong Kong, Germany, Italy, Japan, Korea, the UK, the US, China, Singapore, and France. Prof. Jay R. Ritter University of Florida February 2011.

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prof jay r ritter university of florida february 2011

PowerPoint slides of Average First-day Returns and Volume, by Year, for Hong Kong, Germany, Italy, Japan, Korea, the UK, the US, China, Singapore, and France

Prof. Jay R. Ritter

University of Florida

February 2011

slide5

Number of Offerings and Average First-day Returns on Japanese IPOs, 1990-2009

Average First-day Returns

Number of IPOs

slide6

Number of Offerings and Average First-day Returns on Italian IPOs, 1985-2009

Average First-day Returns

Number of IPOs

slide7

Number of Offerings and Average First-day Returns on UK IPOs, 1980-2009

Average First-day Returns

Number of IPOs

slide12

Data for Japan comes from Fukuda; Dawson & Hiraki; Hebner & Hiraki; Pettway & Kaneko; Hamao, Packer & Ritter; and http://www.fbc.keio.ac.jp/~kaneko/KP-JIPO/top.htmData for Korea comes from Dhatt, Kim & Lim; Choi & Heo; Ng; Cho; and Sung Wook JohData for Italy provided by Arosio, Giudici & Paleari; Cassia, Paleiri, & Redondi; and Silvio VismaraData for the UK provided by Elroy Dimson; Mario Levis; and Silvio Vismara. See the Chambers-Dimson article in the 2009 Journal of Finance for an even longer time-series of British IPO numbers.Data for Germany comes from Ljungqvist; Rocholl; Dealogic; and VismaraData for the US comes from Dealogic and Thomson Financial’s new issues databasesData for China comes from Chunxin Jia and Donghang ZhangData for Hong Kong comes from Dawson; Fung, Gul, and Radhakrishnana; and DealogicIn general, the number of IPOs excludes closed-end funds, unit trusts, and REITs. Penny stocks are excluded for the U.S., as are ADRs. The counts normally include companies going public in that country, rather than companies from that country going public (this matters if a German company goes public in London).