Adra, S. orcid.org/0000-0002-0187-2607 (2021) The conventional and informational impacts of monetary policy on the IPO market. Economics Letters, 200. 109751. ISSN 0165-1765
Abstract
This paper provides the first investigation of the exogenous monetary shocks’ impact on the IPO market by using a high-frequency identification strategy. Contractionary shocks in the conventional sense trigger a decline in IPO activity. In contrast, contractionary shocks that convey positive economic information trigger a rise in IPO activity. Separating conventional monetary shocks from central bank information shocks allows a richer assessment of the monetary policy’s influence on the IPO market.
Metadata
Item Type: | Article |
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Authors/Creators: | |
Copyright, Publisher and Additional Information: | © 2021 Elsevier B.V. |
Keywords: | Monetary policy; Initial public offerings; Information shocks |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Management School (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 13 Sep 2021 12:46 |
Last Modified: | 13 Sep 2021 12:46 |
Status: | Published |
Publisher: | Elsevier BV |
Refereed: | Yes |
Identification Number: | 10.1016/j.econlet.2021.109751 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:178118 |