的初始样本经验丰富的产品从公司公告刊登在《华尔街日报》和投资经销商的消化期1963 – 80。样品的最终选择了以下标准:-
Sample selection and data collection
The initial samples of seasoned offerings were taken from the firm’s announcements published in the Wall Street Journal and the Investment Dealer’s Digest for the period of 1963-80.The final selection of samples was made on the following criteria:-
– The stock is already listed on NYSE or AMEX before the announcement date and was listed for at least 61 following days of trade.
– Wall Street Journal, Index of Corporations and Industries (ICI), F & S, and Registered Offering Statistics (ROS) predicted the date of public announcement.
– There were no immediate announcements regarding the preferred stocks.
– The stock issued were a part of public offerings. All right offerings were excluded from the samples.
– Secondary offerings which were not in combination with initial offerings or primary offerings were excluded.