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date: 24 January 2020

Abstract and Keywords

This chapter focuses on the German IPO market from 1997 to 2015. More specifically, it provides a descriptive overview of the IPO activities in Germany in the last two decades, and analyzes the IPO market’s dependence on the yearly return and turnover of the German stock market. It shows that most IPOs and highest volumes were observed during the dot-com bubble phase (1997–2000) and that the German IPO market’s liquidity shows a stable development in the last years after the subprime crisis. The results of the regression analyses show that the IPO market activity strongly depends on the overall stock market turnover. But the stock market returns play a subordinated role for the IPO market liquidity in Germany.

Keywords: IPO, volume, dot-com, bubble, liquidity, turnover, Germany

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