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Country Risk and the Valuation of U.S.-Listedn Foreign IPOs

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dc.contributor.author Wu, Congsheng en_US
dc.date.accessioned 2014-07-16T16:13:42Z
dc.date.available 2014-07-16T16:13:42Z
dc.date.issued 2012 en_US
dc.identifier.citation Poster 16 en_US
dc.identifier.other d7a9e382-08aa-6097-af8f-46ee0be71961 en_US
dc.identifier.uri https://scholarworks.bridgeport.edu/xmlui/handle/123456789/379
dc.description This study investigates the association of country risk with IPO valuations. Based on the law and finance literature, I hypothesize that firms domiciled in countries with higher country risk are worth less, other things equal. I test this hypothesis with a sample of international companies making their IPO debuts in the United States. The results indicate that several commonly used country-level variables can explain the observed IPO valuation differences across countries. In particular, the index of economic freedom, developed by the Heritage Foundation, and the Transparency International's corruption index have significant impact on IPO valuations. Specifically, IPO firms domiciled in countries with more economic freedom and less corruption are associated with higher valuation. en_US
dc.subject Faculty research day en_US
dc.title Country Risk and the Valuation of U.S.-Listedn Foreign IPOs en_US
dc.type Presentation en_US
dc.institute.department School of Business en_US
dc.institute.name University of Bridgeport en_US
dc.event.name Faculty Research Day en_US

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