Essays about: "informational asymmetry"

Showing result 1 - 5 of 6 essays containing the words informational asymmetry.

1. 1. Is Everyone Uninformed? A study of the relationship between profitability and IPO underpricing

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Niklas Willén; Jacob Jannering; [2023]
   Keywords : IPO Underpricing; IPO; Profitability; Information Asymmetry; Accounting Fundamentals;

   Abstract : In this paper, we investigate the explanatory power of profitability on IPO underpricing through the lens of information asymmetry over different time paradigms. We find that although profitability does not have an impact on IPO underpricing in general, during the time paradigm of 2001 to 2010 it has a positive significant impact- highlighting the necessity to account for variations over time. READ MORE

3. 2. Which firm characteristics determine access to finance for SMEs within the East African Community?

   University essay from

   Author : Joseph Fridner; Emil Jonsson; [2020-06-29]
   Keywords : SME; access to finance; East African Community; sub-Saharan Africa; logit; FDR; asymmetric information;

   Abstract : Financial constraints among SMEs are generally more prevalent in the developing world than in the developed world, but SMEs in sub-Saharan Africa stand out as being particularly constrained. Previous studies also show causal links between access to finance and company growth and increased prosperity. READ MORE

4. 3. Does skill matter? - A study on the relationship between cornerstone investors and underpricing in the Swedish IPO market

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Sebastian Johansson; Arvid Rosberg; [2020]
   Keywords : IPO underpricing; Cornerstone investors; Cornerstone investor skill;

   Abstract : Swedish IPOs backed by cornerstone investors have increased from 10% of all IPOs in 2014 to 90% of all IPOs in January to September of 2020. Although theories regarding IPO underpricing are well developed, the connection to cornerstone investors has not yet been fully covered in financial research. READ MORE

5. 4. How much new information does a credit rating announcement convey to the financial markets? : A comparison before and after the 2008 global financial crisis

   University essay from Linnéuniversitetet/Institutionen för nationalekonomi och statistik (NS)

   Author : Simon Otterberg; August Zetterberg; [2020]
   Keywords : Event study; finance; credit rating; credit rating agency; information content; stock market;

   Abstract : Background: The credit rating agencies have been heavily contested and criticized. In addition to this, other informational sources may potentially deliver the information that the CRA is intended to provide. This may have changed their role in reducing information asymmetry in the financial market. READ MORE

6. 5. Swedish Private Equity – A Reliable Source for IPO Pricing?

   University essay from Lunds universitet/Företagsekonomiska institutionen

   Author : Johan Brown; Patrik Nilsson; Filip Wallersköld; [2020]
   Keywords : Key words: Underpricing; Information Asymmetry; Private Equity; IPO; Sweden; Business and Economics;

   Abstract : Title: Swedish Private Equity - A Reliable Source for IPO Pricing? Seminar date: 03/05/2020 Course: FEKH89, Bachelor Degree Project in Financial Management Undergraduate Level, 15 credits Authors: Johan Brown, Patrik Nilsson, Filip Wallersköld Supervisor: Anamaria Cociorva Key words: Underpricing, Information Asymmetry, Private Equity, IPO, Sweden Purpose: To explore if and why Private Equity-backed companies experience different levels of underpricing compared to its counterpart between 2009 and 2018 Methodology: Quantitative Research Theoretical approach: Previous research suggests that firms going public experience, on average, abnormal first day returns. One of the theories explaining this phenomena argues that underpricing is a result of informational asymmetry between investors. READ MORE