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O'Connor, Thomas G. (2010) Are There Permanent Valuation Gains from Becoming Investable? Banking and Finance Letters, 2 (4). pp. 419-429. ISSN 1308-6588
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Abstract
In this paper, I examine whether the “investable premium” documented by Mitton and O’Connor (2010) is
permanent. In a series of firm-fixed effects regressions, I show that the “investability premium” disappears
after five years of becoming investable, but subsequently reappears, and appears permanent. At the very
least, the “investable premium” tends to last at least as long as some other “internationalization premia”
documented in the literature, and remains even after 12 years of becoming investable. The premium
persists, even after controlling for observable and unobservable firm-level characteristics, industry growth,
and indirect investability.
| Item Type: | Article |
|---|---|
| Keywords: | Investability; Tobin’s q; Internationalization; |
| Academic Unit: | Faculty of Social Sciences > Economics, Finance and Accounting |
| Item ID: | 8498 |
| Depositing User: | Thomas G. O'Connor |
| Date Deposited: | 25 Jul 2017 11:19 |
| Journal or Publication Title: | Banking and Finance Letters |
| Publisher: | International Economic Society |
| Refereed: | Yes |
| Related URLs: | |
| URI: | https://mural.maynoothuniversity.ie/id/eprint/8498 |
| Use Licence: | This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available here |
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