Essays about: "IPOs underpricing"

Showing result 1 - 5 of 36 essays containing the words IPOs underpricing.

  1. 1. UNDERPRICING IN COLD AND HOT ISSUE MARKETS: Testing the Changing Risk Composition Hypothesis on the Swedish IPO Market.

    University essay from

    Author : David Johansson; David Österman; [2017-06-30]
    Keywords : IPO; underpricing; first-day return; changing risk composition hypothesis; hot issue market; cold issue market; going public; risk;

    Abstract : This paper aims to investigate the difference in average first-day return on initial public offerings (IPOs) between the “cold issue” market of 2010-2013 and the “hot issue” market of 2014-2016 on the Swedish IPO market. IPOs during the hot issue market were subject to an average first-day return of 16.57 % compared to 6. READ MORE

  2. 2. IPO Underpricing and tech valuation : An empirical study of the Swedish IPO market

    University essay from KTH/Nationalekonomi

    Author : Dennis Berggren; [2017]
    Keywords : IPO Underpricing; Corporate Finance; Technology firms; Valuation;

    Abstract : The closing price first day of trading has historically been found to exceed the offer price set in IPOs, implying that many issuing firms tend to leave money on the table in their IPO. This thesis examines the level of IPO underpricing in Sweden using unique data of IPO transactions on the largest Swedish stock exchanges during 2010-2016. READ MORE

  3. 3. Cornerstone Investor Allocation in Initial Public Offerings:Empirical Evidence from the Nordics

    University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering; Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Erik Ahl; Shervin Sameni; [2017]
    Keywords : Nordic IPOs; Underpricing; Money left on the table; Cornerstone investors;

    Abstract : The 2014-2016 Nordic hot issue IPO market raised a record SEK 156 billion. 37% of which were raised through the newly emerged mechanism of cornerstone investors, where large portions of new issues are allocated pre-IPO. READ MORE

  4. 4. The Role of Venture Capital Backing in the Underpricing and Long-Run Performance of Chinese IPOs

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Jonathan Johansson; Eric Abrahamsson; [2017]
    Keywords : Venture Capital; IPO; Underpricing; Long-run performance;

    Abstract : We investigate the role of venture capital (VC) backing in the underpricing and long-run performance of initial public offerings (IPOs) in China from 2004 to 2012. China provides a unique contextual setting for conducting such an examination with a regulatory framework in the going public process vastly different from its western peers. READ MORE

  5. 5. The performance of Nordic private equity-backed IPOs: An empirical study on underpricing and aftermarket abnormal returns

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Bengin Polat; Maikel Makdisi-Somi; [2017]
    Keywords : Nordic IPOs; Private equity; Underpricing; Long-run abnormal returns;

    Abstract : Using a sample of 267 Nordic IPOs, consisting of 62 private equity-backed issues and 205 non-sponsored issues between January 2001 and May 2017, we investigate the level of underpricing and aftermarket abnormal returns for all IPOs and the two subgroups. We test the level of underpricing by regression, on an equally-weighted and value-weighted basis, with five explanatory variables. READ MORE