Initial public offerings (IPOs) generate abnormally high returns immediately following their
issuance. An examination of daily returns for 649 firms that went public between 1975 and …

Examination of 41 closed-end fund initial public offerings (IPOs) during the period from January
1986 to June 1987 reveals that the mean initial day’s return is not significantly different …

… Peavy III, CFA, is chair of the board and chief investment officer of Founders Trust Company.
… This article summarizes some of the findings in Barry, Peavy, and Rodriguez (1997b). 2. …

Do stocks with low price-earnings ratios outperform stocks with high price-earnings ratios?
Some tests indicate that low P/E stocks do offer excess returns. Critics of these tests, however, …

We repeated this procedure at the end of each quarter, ending up with 42 consecutive
quarters of return data for each of the five P/E portfolios. The composition of each portfolio was …

… For the period 1978-1982, we used a subset of the Chalk and Peavy (1990) … Ritter (1984)
and Chalk and Peavy (1990) show empirically that larger offerings are less underpriced, …

In this paper, we apply standard event methodology to test the effect of the Penn Square
Bank failure on the daily returns of three groups of bank holding companies. During the 75-day …

Modern financial theory (MFT) is not widely recognized beyond the confines of a relatively
small segment of academia. An examination of the theory's main assertions reveals that MFT …

The over-allotment option allows underwriters to purchase up to 15% additional shares
beyond the number of registered shares in an initial public offering (IPO). This option protects …

… Peavy and Goodman (1983) use Reinganum's methodology (but a different sample) to
show that, after riskadjustment, the e/p emerges as the more powerful factor in explaining …