Essays about: "Underpricing"

Showing result 1 - 5 of 102 essays containing the word Underpricing.

  1. 1. Abnormal returns for IPOs on the Swedish stock exchange

    University essay from

    Author : Björn Landelius; David Molin; [2021-06-28]
    Keywords : IPO; Underpricing; Event Study; Multivariate Regression; Efficient Market Hypothesis; Winner s Curse;

    Abstract : We examine the occurrence of underpricing and short-term performance of a sample of 216 Swedish IPOs between 2017-2021. The theories used are the Efficient Market Hypothesis, Underpricing, Information asymmetry which contains both the Principal Agent Theory and the Signaling Theory, and beyond that, the Winner’s curse. READ MORE

  2. 2. Do Innovative Firms Leave More Money on the Table?

    University essay from Uppsala universitet/Företagsekonomiska institutionen; Uppsala universitet/Företagsekonomiska institutionen

    Author : Anna Wigren; Tobias Rådman; [2021]
    Keywords : underpricing; initial public offering; IPO; innovation; patent; R D; initial returns; information asymmetry;

    Abstract : This study examines the relationship between firm innovation and Initial Public Offering (IPO) underpricing in the Swedish stock market by examining 287 firms that went public on the Nasdaq OMX Stockholm and Nasdaq First North during the years 2010 – 2020. An OLS regression model is utilized to analyze the relationship between underpricing, measured as the initial returns, and firm innovation, measured as patents and Research and Development (R&D). READ MORE

  3. 3. Standing Selfish and Grand? - A study of private equity impact on IPO valuation

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Alfons Rosendahl Jagut; Vilhelm Sandberg; [2021]
    Keywords : Initial Public Offering; Private Equity; Underpricing; Certification; Grandstanding;

    Abstract : The conflicting effects of private equity certification and grandstanding in relation to IPO underpricing has been disputed since the 1990's. Using a sample of 334 IPOs on six Swedish trading platforms, applying a Tobin's Q value relative as an alternative to first-day returns, this thesis finds differences in valuations between private equity and non-private equity backed IPOs. READ MORE

  4. 4. The stock market and innovation : Does the stock market attract, select and boost innovation?

    University essay from Uppsala universitet/Företagsekonomiska institutionen

    Author : Becky Lidgren; Frida Myrsten; [2021]
    Keywords : innovation; IPO; going public; stock market; information asymmetry; signalling; underpricing; patents; patent applications;

    Abstract : This paper explores the stock market as a source of funding for innovation by looking at the ability of the stock market to attract, identify and channel funds to innovative firms. We analysed 541 IPOs on the Swedish stock market between the years 2000-2015, using patent applications as a proxy for innovation. READ MORE

  5. 5. The High Risk and High Reward Game : Performance of Venture Capital Backed IPOs

    University essay from Linnéuniversitetet/Institutionen för ekonomistyrning och logistik (ELO)

    Author : Johanna Karlsson; Didrik Brinkestam Persson; [2021]
    Keywords : Initial public offerings; venture capital; venture capital backed IPOs; non-venture capital backed IPOs; underpricing; initial first day return; abnormal return;

    Abstract : For start-up businesses, the source of outside capital can be retrieved from the venture capital industry. The venture capital industry has grown substantially over the past 50 years, reaching its pinnacle during the internet bubble in the 1990s and serves as an important contributor to the economy. READ MORE