The Abnormal Returns for Initial Public Offerings Over Longer Time

question 30

Multiple Choice

The abnormal returns for initial public offerings over longer time periods seem to call market efficiency into question because:

• A)the average returns at announcement are large and positive while the long-term results
• Are much lower than the returns for seasoned equity offerings.
• B)the average returns at announcement are small and negative while the long-term results
• Are much lower than the returns for seasoned equity offerings.
• C)the average returns at announcement are zero while the long-term results are much higher
• Than the returns for seasoned equity offerings.
• D)the average returns at announcement are large and positive while the long-term results
• Are much higher than the returns for seasoned equity offerings.
• E)the average returns at announcement are insignificant while the long-term results are
• Much lower than the returns for seasoned equity offerings.

---

Definitions:

Masculinity

Traditionally, this term refers to the attributes, behaviors, and roles associated with being male in a given society.

Femininity

A set of attributes, behaviors, and roles generally associated with girls and women, often constructed socially.

Gender Schemas

Cognitive frameworks that help individuals organize and understand gender-related information based on societal norms and expectations.

Cultural Expectations

Shared beliefs or norms within a society that dictate the behavior considered acceptable or typical.