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Stock Price Performance of a Portfolio of Japanese Ventures After IPO

Author

Listed:
  • Dimitry Rtischev

Abstract

The paper examines stock market performance of a portfolio of 47 Japanese ventures that were founded by young entrepreneurs after 1995 and held an initial public offering between 2000 and 2021. Assuming investments were made on the day of the IPO of each venture, it is found that the ventures portfolio significantly outperformed the Nikkei Average in most years between 2000 and 2023. However much of the performance differential is attributable to one or several of the ventures in the portfolio.

Suggested Citation

  • Dimitry Rtischev, 2023. "Stock Price Performance of a Portfolio of Japanese Ventures After IPO," Gakushuin Economic Papers, Gakushuin University, Faculty of Economics, vol. 60(3), pages 197-215.
    • Handle: RePEc:abc:gakuep:60-3-2
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    File URL: https://www.gakushuin.ac.jp/univ/eco/gakkai/pdf_files/keizai_ronsyuu/contents/contents2023/6003/6003_Rtischev/6003_Rtischev.pdf
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    More about this item

    Keywords

    startups; ventures; IPO; stock market; entrepreneurship; Japan;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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