Initial public offerings (IPOs), especially common stock IPOs have drawn a lot of investors' and researchers' attentions for their short-run return rocketing phenomenon. Numerous articles focused on examining IPOs' short- and long-run return structures in various methods and conclusions have been published. Ibbotson (1975), Ibbotson, Sindelar, and Ritter (1988) and Loughran, Ritter, and Rydqvist (1994) focused on examining whether IPOs did possess initial abnormal return, while Ritter (1991), Brav and Gompers (1997) and Eckbo and Norli (2005) contributed their efforts on explaining IPOs' long-run return structures. This thesis extended Eckbo and Norli's (2005) study. I applied their model in examining Taiwan OTC IPOs' long-run (5 years) return structures. The samples are dated from 1991 to 2002, a total of 261 IPOs (financial service companies excluded) are examined. I formed a portfolio which buys each IPO with offering prices in the first day of trading and sells them with closing prices on the trading day 5 years later. The equal-weighted returns are calculated and served as the daily raw return of the portfolio. I used the Fama-French three factor model (size, book-to-market, RMRf) as the foundation, adding 2 factors (liquidity and leverage ratio) to the model and applying it to the samples. The outcomes are indicating that if the initial return was excluded and the portfolio return was calculated as the raw return minus risk-free return, the three-factor model displayed statistically significant factor loadings on size and RMRf factors while the intercept is significant as well. After adding liquidity and leverage ratio factors, all the factors in the model are significantly different from zero. The adjusted R-square values of the three- and five-factor models are 24.68% and 28.09%, respectively.

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Class of 2016 Abstract & Report / Specific Aims: This study aims to evaluate the use and rationale of dietary supplement use by pharmacists and to assess whom pharmacists are recommending them to. Methods: Arizona licensed pharmacists were surveyed using Qualtrics software. The survey consisted of questions starting with listing common vitamin, mineral and herbal products used personally. Respondents were then asked to indicate a purpose for use and if they would recommend personally used products to patients, family or friends. Demographics such as area of practice, gender and age were also collected. Data were analyzed by calculating summary frequency and percentages with a priori alpha level of 0.05. Main Results: Of the 10,899 surveys sent, 528 respondents completed the survey. The average respondent age was 46.6 ± 14.4, 40% were male and 42% practiced in community pharmacy Overall use was: multivitamin (95.54%), vitamin C (78.24%), vitamin D (73.31%), calcium (73.13%), and B vitamin(s) (70.03%). The most common reasons for use were “general health and wellness” and “to treat or cure a specific disease or health problem.” Overall use of supplements was lower; 58% for fish oil while only 25% used chondroitin. More community pharmacists used all types of dietary supplements (p < 0.05). Most pharmacists would recommend the products to patients. Conclusions: (39) Pharmacists use dietary supplements at rates similar to the general public and would recommend the noted products to patients. This is particularly relevant because existing well designed studies evaluating efficacy and safety of the products in question are limited.

Class of 2012 Abstract / Specific Aims: The objective of this study is to evaluate consumers’ knowledge about over the counter (OTC) products containing acetaminophen (APAP). Methods: Doctor of pharmacy student researchers set up a booth at consenting community pharmacies and invited consumers to participate in a 10-15 minute knowledge assessment. The booth contained a table displaying several OTC medication bottles/packages. Adult participants: a) answered baseline questions verbally about their APAP knowledge and associated risks; b) identified OTC products at the booth that contain APAP; and c) calculated and demonstrated dosing of APAP. The researchers asked follow-up questions and assessed the accuracy of the dosing. Participants received APAP educational brochures upon completion. Main Results: Eighty percent of subjects reported not knowing what the abbreviation “APAP” means, and almost half of those who said that they knew what it means were incorrect. Very few participants were able to correctly identify the products containing APAP even with the product packaging information, with the percentage of incorrect responses as to whether a product contains APAP or not varying from 4.9% to 31.6%. More than 40% of the pediatric doses were incorrectly dosed for both of the pediatric formulations, even with the majority of subjects being parents. Conclusions: Consumers are not able to identify which over-the-counter products contain APAP even with the product packaging before them, and they do not know what the abbreviation “APAP” means. Better packaging and product ingredient information should be developed, and the abbreviation “APAP” should be avoided. Pediatric APAP products should be re-evaluated regarding safety and dosing.

Class of 2007 Abstract / Objectives: The main objective of this study was to determine if there was a link between the amount of OTC medications consumed and the knowledge of these products. With approximately 100,000 OTC products are available to the consumer this study focused on the most common class sold over the counter, analgesics. This study also determined if there was a correlation between the elderly and their frequency and knowledge of these products. Specific demographic characteristics including gender and education level were also evaluated to determine if these factors had an impact. Methods: A 21 question survey on OTC analgesics was distributed to retail pharmacy customers. It consisted of questions on amount of OTC analgesics regularly consumed, general knowledge of these products, and basic demographic questions. The initial questions assessed the amount of OTC analgesic regularly consumed by the participant. The remaining questions were designed to determine the participant’s knowledge of these products. They were either multiple choice or true false questions covering basic information on OTC analgesics Results: It was found there was no correlation between the amount of OTC analgesics consumed and the knowledge of these products. A person who consumed analgesics on a regular basis was not significantly more knowledgable about these products then a person who had never taken them. There was also no link between age and amount of OTC analgesics taken or knowledge of these products. It was found that women have more knowledge of OTC analgesics then men. Females answered an average 63.6% of the survey questions correct, compared to males who answered 51.8% correct. This project also demonstrated there was a correlation between the amount of the participant’s education level and their knowledge of OTC analgesics. Participants who had a high school education or less, answered 53.6% of the questions correct, and those who had a college degree or post graduate answered 73.5% correct. Conclusions: Although OTC analgesics don’t require a prescription, it is still important to counsel patients taking these medications. This should be considered a necessary part of the job of a pharmacist to ensure the general population has adequate knowledge of these products and is taking them safely. These products can offer a significant benefit and improve a person’s quality of life when utilized correctly. Providing patient education can ensure this can be done.

Over-the counter (OTC) medicines are used commonly for treating minor illnesses. Even though most Canadians believe that OTC medicines are safe and effective, they can pose some risk through side effects and interactions if people do not take them with due care. With notable exceptions, people in Canada can purchase OTC medicines from pharmacies or non-pharmacy outlets such as convenience stores. Global trends in medicine-related legislation are leading to more of these products ending up in retail outlets other than pharmacies. Therefore, understanding public attitudes involving OTC medicine is becoming more and more important. Public expectations of OTC medicines in relation to location of sale were investigated in this study. It was hypothesized that the product buying public would perceive medicines differently based on where they are sold. <p>Adult Saskatoon residents over 18 years old (n = 2547) were randomly selected from a telephone registry. Advance letters were initially mailed to them, followed by a ten page questionnaire and two reminder letters. Non-response letters were only sent to subjects who did not reply after two reminders. Subjects were asked to indicate what attributes (effectiveness, safety, potency, side effect propensity, price, etc.) they would expect from OTC medicines depending on where they were purchased pharmacies versus convenience stores. The usable response rate was 57.5 percent. Almost every participant (96.1 percent) had bought OTC medicines from pharmacies. Most respondents (80.7 percent) were aware that OTC medicines could be purchased in convenience stores; however, only 42.2 percent of respondents had purchased OTC medicines from such locations. Significantly different expectations for the two locations were seen for product variety and quality, price, and ability to get help. Pharmacies should have a better selection of products and be of better quality than these OTC medicines sold in convenience stores. Public expectations for OTC product potency, safety, effectiveness, propensity for side effects, and package information did not differ across locations. The findings of this study suggest that location of sale has minimal effect on Saskatoon residents expectations of OTC medicines along clinical attributes. Saskatoon residents also appear to have healthy attitudes regarding OTC medicines and realize care is needed during their use. This may have implications in how people use such products after they are purchased and may be important for how they are scheduled for the Canadian marketplace.

Purpose The objective of this study is to investigate how the reregulation affected the decision making process of buyers of OTC drugs, and to identify determinants for how a buyer chooses to obtain OTC drugs in the reregulated Swedish pharmacy market. Furthermore this study aims to map out buyers’ purchases of OTC drugs as well as their impressions about the reregulation of the Swedish pharmacy market   Background The Swedish pharmacy market was opened up for competition the 1 July 2009. On 1 November 2009, private pharmacies are allowed in the market, as well non-pharmacy retailers can commercialize OTC drugs. Thus due to the reregulation of the pharmacy market, consumers and retailers face a different market situation, since the amount of retailer selling OTC drugs has increased. This study investigates how buyers’ purchase behavior of OTC was affected by the end of the pharmacy monopoly.   Method  The purpose of this thesis was achieved by using a mixed-method approach. The qualitative method in the form of interviews and the quantitative method by conducting a survey. The mixed-method was used in order to obtain a deeper understanding of the phenomenon of consumer decision-making process as well as attitude and impression about the reregulation of the Swedish pharmacy market.   Conclusion Buyers are in general satisfied with the reregulation of the Swedish pharmacy market. However, the positive attitude towards the reregulation does not necessarily mean a change in purchase behavior for OTC drugs. The decision making process is found to be dependent on the level of experience the buyer possesses with the needed OTC drug, as well as the type of need the buyer experiences, thus three determinants for the decision making process of OTC drugs were found. The frequency of purchase is connected to the gender and age group of the buyer. Also the majority of the researched buyers already had experienced the purchase of OTC drugs in store other than pharmacies. The buyers that never purchase OTC drugs in other retailers are in general open to the possibility of taking advantage of those stores.

Over-the counter (OTC) medicines are used commonly for treating minor illnesses. Even though most Canadians believe that OTC medicines are safe and effective, they can pose some risk through side effects and interactions if people do not take them with due care. With notable exceptions, people in Canada can purchase OTC medicines from pharmacies or non-pharmacy outlets such as convenience stores. Global trends in medicine-related legislation are leading to more of these products ending up in retail outlets other than pharmacies. Therefore, understanding public attitudes involving OTC medicine is becoming more and more important. Public expectations of OTC medicines in relation to location of sale were investigated in this study. It was hypothesized that the product buying public would perceive medicines differently based on where they are sold. <p>Adult Saskatoon residents over 18 years old (n = 2547) were randomly selected from a telephone registry. Advance letters were initially mailed to them, followed by a ten page questionnaire and two reminder letters. Non-response letters were only sent to subjects who did not reply after two reminders. Subjects were asked to indicate what attributes (effectiveness, safety, potency, side effect propensity, price, etc.) they would expect from OTC medicines depending on where they were purchased pharmacies versus convenience stores. The usable response rate was 57.5 percent. Almost every participant (96.1 percent) had bought OTC medicines from pharmacies. Most respondents (80.7 percent) were aware that OTC medicines could be purchased in convenience stores; however, only 42.2 percent of respondents had purchased OTC medicines from such locations. Significantly different expectations for the two locations were seen for product variety and quality, price, and ability to get help. Pharmacies should have a better selection of products and be of better quality than these OTC medicines sold in convenience stores. Public expectations for OTC product potency, safety, effectiveness, propensity for side effects, and package information did not differ across locations. The findings of this study suggest that location of sale has minimal effect on Saskatoon residents expectations of OTC medicines along clinical attributes. Saskatoon residents also appear to have healthy attitudes regarding OTC medicines and realize care is needed during their use. This may have implications in how people use such products after they are purchased and may be important for how they are scheduled for the Canadian marketplace.

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Class of 2012 Abstract / Specific Aims: The objective of this study is to evaluate consumers’ knowledge about over the counter (OTC) products containing acetaminophen (APAP).   Methods: Doctor of pharmacy student researchers set up a booth at consenting community pharmacies and invited consumers to participate in a 10-15 minute knowledge assessment. The booth contained a table displaying several OTC medication bottles/packages. Adult participants: a) answered baseline questions verbally about their APAP knowledge and associated risks; b) identified OTC products at the booth that contain APAP; and c) calculated and demonstrated dosing of APAP. The researchers asked follow-up questions and assessed the accuracy of the dosing. Participants received APAP educational brochures upon completion.      Main Results: Eighty percent of subjects reported not knowing what the abbreviation “APAP” means, and almost half of those who said that they knew what it means were incorrect. Very few participants were able to correctly identify the products containing APAP even with the product packaging information, with the percentage of incorrect responses as to whether a product contains APAP or not varying from 4.9% to 31.6%. More than 40% of the pediatric doses were incorrectly dosed for both of the pediatric formulations, even with the majority of subjects being parents. Conclusions: Consumers are not able to identify which over-the-counter products contain APAP even with the product packaging before them, and they do not know what the abbreviation “APAP” means. Better packaging and product ingredient information should be developed, and the abbreviation “APAP” should be avoided. Pediatric APAP products should be re-evaluated regarding safety and dosing.