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Vol. 23. Núm. 103.
Páginas 85-96 (Abril - Junio 2007)
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Vol. 23. Núm. 103.
Páginas 85-96 (Abril - Junio 2007)
Open Access
Integrando información de carácter temporal y transversal en la predicción del rendimiento inicial de las salidas a bolsa
Incorporating temporary and transverse information to the forecast of stock performance during initial public offerings
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David Quintana Montero
Doctor en Ciencias Empresariales, Universidad Pontificia Comillas, España. Docente, Universidad Carlos III de Madrid
Pedro Isasi Viñuela
Doctor en Informática, Universidad Politécnica de Madrid, España. Docente, Universidad Carlos III de Madrid
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Resumen

Este artículo aborda el fenómeno del rendimiento inicial de las salidas a bolsa a través de modelos que consideran la cuestión tanto desde un punto de vista longitudinal como transversal. La propuesta consiste en una forma de incorporar tanto la inercia del mercado primario como información relacionada con la estructura de la colocación al estudio de casos concretos. Los resultados ponen de manifiesto una mejora substancial de la capacidad explicativa de las regresiones empleadas.

Palabras clave:
Salida a bolsa
rendimiento inicial
inercia
Abstract

This article discusses the short-term performance of initial public offerings using an approach that considers both cross-sectional and longitudinal perspectives. We present a way to combine the inertia in the IPO market and variables related to the offering structure to predict the initial return of specific companies. The combination of both results in a substantial increase in the explanatory power of the regression models used to asses the results.

Key words:
IPO
underpricing
inertia
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Bibliografía
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