The Relationship Between IPO and Macroeconomics Factors: An Empirical Analysis from UK Market

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外文摘要：The purpose is to analyze the short and long run equilibrium relationship between the external factors and the IPO for UK market over the period of 1996 to 2016, in order to provide: i) how macroeconomic conditions influence IPOs activities and ii) how long the effects last (shock). The results of the correlation analysis show that the hypothesis that the business cycle, volatility and interest rate have explanatory power for the number of IPOs is supported by empirical evidence. On the other hand, we found no evidence that the stock market return affects the IPO activities.

外文关键词：

UK IPOLong-run relationshipExternal factorsCointegrationVECM

作者：

Eliana Angelini、Matteo Foglia

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作者单位：

Department of Economics, "G.d'Annunzio" University of Chieti-Pescara, Pescara, Italy

出版年：

2018

经济学与金融学刊(英文版)

ISSN：

年,卷(期)：2018.19(1)

参考文献量26