Log in

Relevant bibliographies by topics / Underpricing / Dissertations / Theses

To see the other types of publications on this topic, follow the link: Underpricing.

Dissertations / Theses on the topic 'Underpricing'

Author: Grafiati

Published: 4 June 2021

Last updated: 25 July 2025

Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles

Select a source type:

Consult the top 50 dissertations / theses for your research on the topic 'Underpricing.'

Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.

You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.

Browse dissertations / theses on a wide variety of disciplines and organise your bibliography correctly.

1

Dai, Kai. "Liquidity shocks and SEO underpricing." Thesis, University of Nottingham, 2012. http://eprints.nottingham.ac.uk/12627/.

Full text

Abstract:

We hypothesise that certain market conditions could lead to liquidity shocks that will consequently increase SEO underpricing (defined as the close-to-offer return). We propose three scenarios of market conditions, namely aggregate issues with large volume, large market declines and market volatility. Using a sample of about 5,000 seasoned equity offerings from 1987 to 2009, we found that market volatility is significantly and positively related to SEO underpricing after controlling for other factors. We employed an estimation method proposed by Chambers and Dimson (2009) to examine the behavi

APA, Harvard, Vancouver, ISO, and other styles

2

kobeisy, islam. "Underpricing of US FinTech IPOs." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Företagsekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-42312.

Full text

Abstract:

This master thesis examines the effect of ex-ante uncertainty about the intrinsic value of US FinTech IPOs stock on the underpricing level. Baron (1982) Asymmetric information model and Beaty and Ritter (1986) the ex-ante uncertainty model were tested using regression analysis by selecting different proxies of ex-ante uncertainty (Firm Age and Market capitalization, IPO proceed and Number of uses of proceed, Venture backing and Underwriter reputation). The Data set consists of 62 US FinTech IPOs during the period from January, 2005 to July, 2017. The underpricing level of US FinTech IPOs was 2

APA, Harvard, Vancouver, ISO, and other styles

3

Bohdan, Roman. "Innovation, Ownership and IPO Underpricing." ScholarWorks@UNO, 2018. https://scholarworks.uno.edu/td/2550.

Full text

Abstract:

This dissertation consists of two empirical essays. The first chapter titled: “Hedge Fund Activism and Dual Ownership of U.S. Multinationals”. Harford, Wang & Zhang (2017) conclude that holding high cash balances abroad to avoid US taxes causes internal capital markets and investments distortions. We posit that hedge funds target MNCs with more severe internal capital and agency problems. We demonstrate that upon acquiring dual ownership in these firms, hedge funds reduce internal capital problems and improve investment, especially innovation, efficiencies. To further reduce agency costs of fo

APA, Harvard, Vancouver, ISO, and other styles

4

Hertli, Sascha. "How to Make IPO Underpricing Investable." St. Gallen, 2008. http://www.biblio.unisg.ch/org/biblio/edoc.nsf/wwwDisplayIdentifier/04603346001/$FILE/04603346001.pdf.

Full text

APA, Harvard, Vancouver, ISO, and other styles

5

Maciel, Luiz Paulo Pires. "Underpricing of equity offerings in Brazil." reponame:Repositório Institucional do FGV, 2006. http://hdl.handle.net/10438/2331.

Full text

Abstract:

Made available in DSpace on 2010-04-20T20:51:29Z (GMT). No. of bitstreams: 3 166822.pdf.jpg: 15303 bytes, checksum: 206e44be273b1479e4a55a52672a97de (MD5) 166822.pdf: 179655 bytes, checksum: e50f1ab0a8c8098f4e556d7060270fb6 (MD5) 166822.pdf.txt: 75907 bytes, checksum: d26fff84a9978716591b6cff78c799c1 (MD5) Previous issue date: 2006-09-11T00:00:00Z<br>We examine the underpricing of twenty-seven IPOs and twenty-nine SEOs issued in Brazil from January 1999 to March 2006. Determinants on pre-market demand, underwriting activities and information asymmetry were discussed. Common characteristi

APA, Harvard, Vancouver, ISO, and other styles

6

Ren, Jinjuan, and 任錦娟. "Investor sentiments, agency conflicts, and IPO underpricing." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2009. http://hub.hku.hk/bib/B42664342.

Full text

APA, Harvard, Vancouver, ISO, and other styles

7

Reeder, Arnold Sietse. "Initial public offering underpricing : 1990s vs. 1980s." Honors in the Major Thesis, University of Central Florida, 2003. http://digital.library.ucf.edu/cdm/ref/collection/ETH/id/330.

Full text

Abstract:

This item is only available in print in the UCF Libraries. If this is your Honors Thesis, you can help us make it available online for use by researchers around the world by following the instructions on the distribution consent form at http://library.ucf.edu/Systems/DigitalInitiatives/DigitalCollections/InternetDistributionConsentAgreementForm.pdf You may also contact the project coordinator, Kerri Bottorff, at kerri.bottorff@ucf.edu for more information.<br>Bachelors<br>Business Administration<br>Finance

APA, Harvard, Vancouver, ISO, and other styles

8

Zheng, Chen. "Essays on IPO underpricing : an economic approach." Thesis, University of Reading, 2018. http://centaur.reading.ac.uk/78876/.

Full text

Abstract:

Regardless of the huge body of literature on the short-run performance of initial public offerings (IPOs), the anomaly remains unsolved and there are still less explored areas, mainly due to a lack of data availability and methodology restrictions. This thesis aims to provide a better understanding of IPO valuation and initial returns with an economic approach, which is new to the focus of current literature on firm- and issuing-characteristics. Specifically, this thesis introduces three new macroeconomic determinants in an IPO valuation, including the country-level financial integration, regi

APA, Harvard, Vancouver, ISO, and other styles

9

Ren, Jinjuan. "Investor sentiments, agency conflicts, and IPO underpricing." Click to view the E-thesis via HKUTO, 2009. http://sunzi.lib.hku.hk/hkuto/record/B42664342.

Full text

APA, Harvard, Vancouver, ISO, and other styles

10

Guidolin, Katia <1988&gt. "Il fenomeno dell'IPO underpricing: il caso Cina." Master's Degree Thesis, Università Ca' Foscari Venezia, 2013. http://hdl.handle.net/10579/3096.

Full text

Abstract:

Il processo di quotazione, modalità chiave a disposizione delle aziende per raccogliere capitale presso il pubblico, cela un'anomalia che da decenni ha interessato schiere di studiosi ed esperti: il fenomeno dell'underpricing. Al fine di spiegare questo "puzzle" della finanza si è innescato un'attento processo di indagine delle cause e formulazione delle relative teorie esplicative a partire da dati empirici, avendo però privilegiato come scenario d'analisi perlopiù il contesto occidentale. Questo elaborato vuole invece volgere lo sguardo verso il continente asiatico, la Cina in particolar mod

APA, Harvard, Vancouver, ISO, and other styles

11

Ramsin, Anders, and Kristoffer Göthner. "Underpricing in Swedish IPOs : An investigation of the current situation and possible causes." Thesis, Högskolan i Jönköping, Internationella Handelshögskolan, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-26689.

Full text

Abstract:

Using a unique dataset of 41 IPOs from 2005 to 2015, we investigate the underpricing situation in the NASDAQ OMX Stockholm stock exchange. Our findings show a mean underpricing of 4.9% for the period, with values ranging from -20% to 28.3%. Further, we use a set of statistical models to explore the impact on underpricing from the issuing company’s age and size, choice of underwriter, their line of industry, and the size of their offering, all with some surprising results.

APA, Harvard, Vancouver, ISO, and other styles

12

Pindroch, Michal. "Underpricing and the Long-Run Underperformance of IPOs." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-71977.

Full text

Abstract:

When companies go public, the shares they sell tend to be underpriced, and thus exhibit a significant price jump on the first day of trading. As a result, IPO investors materialize significant first-day returns. In the long-run, however, relative to some benchmark, investors appear to lose out by continuing to hold the stocks of firms that have recently gone public. These IPO phenomena are subject of the following study. The thesis addresses two main objectives. First, it systematically surveys relevant empirical evidence and theories that have been proposed to explain IPO underpricing and lon

APA, Harvard, Vancouver, ISO, and other styles

13

Tian, Zhimin. "Accounting conservatism and IPO underpricing : evidence from China." HKBU Institutional Repository, 2011. http://repository.hkbu.edu.hk/etd_ra/1272.

Full text

APA, Harvard, Vancouver, ISO, and other styles

14

Qiao, Yongyuan. "On the determinants of initial public offering underpricing." Thesis, St Andrews, 2008. http://hdl.handle.net/10023/575.

Full text

APA, Harvard, Vancouver, ISO, and other styles

15

Ieong, Hoi Ian. "Investor-related perspectives of IPO underpricing in Hong Kong." Thesis, University of Macau, 2009. http://umaclib3.umac.mo/record=b2147734.

Full text

APA, Harvard, Vancouver, ISO, and other styles

16

Booragadda, Bhavika. "IPO Underpricing and Insider Wealth Maximization in Internet firms." Scholarship @ Claremont, 2018. http://scholarship.claremont.edu/cmc_theses/1818.

Full text

Abstract:

This paper empirically tests the theoretical model developed by Aggarwal, Krigman and Womack (2001), which argues that insiders of a firm strategically underprice its initial public offering to maximize personal wealth by selling shares at lockup expiration. First day underpricing generates information momentum for the stock in terms of increased research coverage and recommendations by analysts. Increased research coverage is positively correlated with stock returns and insider selling at the end of the lockup period. Although the value of the stock should be typically based on discounted exp

APA, Harvard, Vancouver, ISO, and other styles

17

Siri, Andrea. "Dual track sell-out: Signaling through IPO and Underpricing." Master's thesis, NSBE - UNL, 2013. http://hdl.handle.net/10362/11669.

Full text

Abstract:

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics<br>Recent empirical analyses suggest the existence of a new exit strategy for private companies’ owners: the dual track sell-out. This paper aims to understand whether this strategy involves signals and why some firms undertake it more than others. I build a model depicting how going public and underpricing arise also as a response to asymmetric information. Target firms and market’s characteristics influence both signaling choices in equilibrium a

APA, Harvard, Vancouver, ISO, and other styles

18

Hunger, Adrian [Verfasser]. "IPO-Underpricing im Kontext einer vertikalen Marktsegmentierung. / Adrian Hunger." Berlin : Duncker & Humblot, 2015. http://d-nb.info/1238350933/34.

Full text

APA, Harvard, Vancouver, ISO, and other styles

19

Agriman, Paolo. "Underpricing delle IPO nei mercati regolamentati e non regolamentati." Master's thesis, Alma Mater Studiorum - Università di Bologna, 2009. http://amslaurea.unibo.it/682/.

Full text

APA, Harvard, Vancouver, ISO, and other styles

20

Läck, Nätter Anton. "Underpricing of Initial Public Offerings : Evidence from the Nordic." Thesis, Uppsala universitet, Nationalekonomiska institutionen, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-388804.

Full text

Abstract:

This thesis is an empirical event study that examines the short-run performance of initial public offerings (IPO), known as underpricing and initial return. I argue that literature which only presents equal weights could potentially give the reader a skewed understanding of the width of the concept. By using a new data set of Nordic IPOs during the period 2009-2018, I provide estimates using equal as well as market capitalization weights consistently to give a more nuanced and fair picture. The equally weighted first-day initial return is estimated to be 4.96% and the value weighted first-day

APA, Harvard, Vancouver, ISO, and other styles

21

Xia, Shujie. "IPO Underpricing: The Role of Expected Future Business Conditions." Scholarship @ Claremont, 2019. https://scholarship.claremont.edu/cmc_theses/2050.

Full text

Abstract:

In this paper, I explore whether the expected economic condition plays a role in determining the degree of IPO underpricing. My hypothesis is that given the current condition, the IPO underpricing is higher when the expected economic condition is worse. I test the hypothesis on the aggregate level and the industry level. I find no evidence that supports my hypothesis on both levels. On the aggregate level, I find the “hot” market, a period when the underpricing is significantly higher than other periods, exists when both the current and expected economic conditions are good. On the industry le

APA, Harvard, Vancouver, ISO, and other styles

22

Reid-Grant, Marcia Yvonne. "Share Retention, Underwriter Reputation, and Initial Public Offering Underpricing." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/6268.

Full text

Abstract:

Initial public offering (IPO) underpricing is a costly practice that decreases the IPO proceeds accruing to the issuing firms and can derail a firm's growth objectives. The purpose of this correlational study was to determine the relationship between share retention, underwriter reputation, and IPO underpricing among a population of IPOs issued in Jamaica. The efficient market hypothesis served as the theoretical framework for this study. Archived data for 52 IPOs issued in Jamaica from 1986 to 2018 were collected and Spearman's correlation matrix and heteroscedasticity-consistent standard err

APA, Harvard, Vancouver, ISO, and other styles

23

Hu, Xiaofan, and Lars Andreas Sundberg. "The Degree of Underpricing in the Swedish Market : An analysis of the most relevant factors influencing IPO underpricing between main and secondary markets." Thesis, Umeå universitet, Företagsekonomi, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-94622.

Full text

Abstract:

Underwriters evaluate the optimum price of IPO issued shares and conduct underpricing based on a higher degree of risk and information asymmetry. These are calculated under a series of determined risk proxies that adjust the most suitable offering and opening price of IPOs in both main and second tier markets. Quantitative results are obtained by regression analysis and t-test. It is verified that the degree of underpricing differs between main and second tier markets and this difference influences the risk proxies and the underwriters differently when evaluating the optimum price of IPOs.

APA, Harvard, Vancouver, ISO, and other styles

24

SADKOWSKI, ANTHONY COELHO. "UNDERPRICING IN THE BRAZILIAN STOCK MARKET: OCCURENCE AND RELATED FACTORS." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2018. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=35745@1.

Full text

Abstract:

O objetivo deste trabalho é verificar a ocorrência do underpricing no mercado brasileiro e analisar sua relação com fatores internos, externos da empresa e da oferta. O underpricing é considerado uma anomalia de mercado, pois proporciona para os investidores ganhos elevados com a mesma composição de risco. Para as empresas, a ocorrência do underpricing no IPO compromete a eficiência da oferta, uma vez que reduz o montante arrecadado. Este fenômeno foi estudado nas décadas de 80 e 90, porém somente na última década estudos começaram a ser realizados com foco no mercado brasileiro. Desta forma,

APA, Harvard, Vancouver, ISO, and other styles

25

Zavala, Rocha Dorita Cristina, Figueroa Guillermo Pedro Freire, and Di Baja Ian Carlo Venero. "Underpricing y subvaluación en las OPI de Perú y Chile." Master's thesis, Universidad del Pacífico, 2015. http://hdl.handle.net/11354/1122.

Full text

Abstract:

El fenómeno del underpricing en la oferta pública inicial (OPI) se viene estudiando hace ya varias décadas, y se refiere al retorno positivo del primer día de la acción, calculado como la diferencia entre el precio de cierre del primer día de cotización y el precio de emisión pactado entre el emisor y el banco de inversión. Por otro lado, también existe el overpricing, es decir, al fenómeno que sucede cuando el precio de cierre del primer día de negociaciones es menor que el precio de oferta. En nuestro estudio, encontramos evidencia de ambos, con el underpricing presente en 71,67% de empresas

APA, Harvard, Vancouver, ISO, and other styles

26

Muller, Michael. "Underpricing on initial public offerings: further evidence from the JSE." Master's thesis, University of Cape Town, 2011. http://hdl.handle.net/11427/11056.

Full text

Abstract:

This paper provides evidence of the existence of IPO underpricing on the JSE between 2000 and 2008. Average underpricing over the period was found to be 17.1 percent (median: 9.4 percent). In line with the general global decline in first day returns following the end of the internet bubble period, average underpricing on the JSE has decreased relative to previous studies.

APA, Harvard, Vancouver, ISO, and other styles

27

Morales, Camargo Emmanuel. "Underpricing: Lessons from Bookbuilt Initial Public Offerings in Hong Kong." Diss., The University of Arizona, 2006. http://hdl.handle.net/10150/194114.

Full text

Abstract:

This dissertation consists of two chapters, each representing an independent study on Initial Public Offers. The first study tests the implications of some of the leading IPO underpricing models, using over five years of bid and allocation data on a Hong Kong sample of bookbuilt offerings, subject to clawback restrictions. I find that these allocation restrictions significantly modify the nature of the bookbuilding mechanism, reducing the amount of information underwriters are able to extract from road show participants. However, far from inducing a complete breakdown of the IPO price discover

APA, Harvard, Vancouver, ISO, and other styles

28

Gumanti, Tatang Ary. "Accounting information and the underpricing of Indonesian initial public offerings." Thesis, Edith Cowan University, Research Online, Perth, Western Australia, 2000. https://ro.ecu.edu.au/theses/1378.

Full text

Abstract:

The purpose of this study is to examine the relation between accounting measures of total firm risk and the magnitudes of IPO initial returns. The existing explanations of the underpricing of lPO's suggests that the extent of underpricing is positively related to ex ante uncertainty about the issues. This study argues that accounting risk measures are related to the ex ante uncertainty. Since ex ante uncertainty is positively related to IPO underpricing, accounting risk measures are also arguably related to IPO underpricing. An event methodology is employed in this study. Five accounting risk

APA, Harvard, Vancouver, ISO, and other styles

29

Hsu, Ru-Yi, and 許茹儀. "IPO Underpricing-Is Underpricing a Signal of Quality?" Thesis, 1997. http://ndltd.ncl.edu.tw/handle/93925085543945621615.

Full text

APA, Harvard, Vancouver, ISO, and other styles

30

KUO, Hui-Chen. "ADR Underpricing and Information Spillover." 2004. http://www.cetd.com.tw/ec/thesisdetail.aspx?etdun=U0009-0112200611304176.

Full text

APA, Harvard, Vancouver, ISO, and other styles

31

KUO, Hui-Chen, and 郭惠誠. "ADR Underpricing and Information Spillover." Thesis, 2005. http://ndltd.ncl.edu.tw/handle/33748967480487798552.

Full text

Abstract:

碩士<br>元智大學<br>財務金融研究所<br>93<br>American depositary receipts (ADRs) are negotiable instruments representing foreign company shares traded in US dollars in the U.S. capital market. We present comparative analyses of the underpricing of ADRs and U.S. IPOs which listed during 1985~2004. The same as prior issues we find underpring of ADRs (9.49 %) is much lower than U.S. IPOs (18.75 %). ADRs which have positive partial adjustment in offer price, come from Hi-tech industries and issued during 1996~2000 experience higher underpricing. Foreign firms that have common border, language and culture tie ca

APA, Harvard, Vancouver, ISO, and other styles

32

Jeng, Shu-Huei, and 鄭淑慧. "Analyst forecast and IPO underpricing." Thesis, 2004. http://ndltd.ncl.edu.tw/handle/36158647098637655997.

Full text

Abstract:

碩士<br>國立中央大學<br>企業管理研究所<br>92<br>Underpricing and consensus exists amount analysts forecasting earnings are negative. Underpricing and benefit of aggregating individual analysts' forecasts are positive. Underpricing and analyst coverage are negative. Underpricing and analyst optimism are positive.

APA, Harvard, Vancouver, ISO, and other styles

33

"Underpricing of H-shares IPOs." 1999. http://library.cuhk.edu.hk/record=b5896262.

Full text

Abstract:

by Ng Chi-Cheong, Allen, Tsea Po Kwan.<br>Thesis (M.B.A.)--Chinese University of Hong Kong, 1999.<br>Includes bibliographical references (leaves 39-41).<br>ABSTRACT --- p.ii<br>TABLE OF CONTENTS --- p.iii<br>LIST OF ILLUSTRATIONS --- p.v<br>LIST OF TABLES --- p.vi<br>ACKNOWLEDGEMENT --- p.vii<br>Chapter<br>Chapter I. --- INTRODUCTION --- p.1<br>Chapter II --- LITERATURE REVIEW --- p.3<br>General Review --- p.3<br>Model Review --- p.6<br>Rock´ةs Model --- p.6<br>Principal-Agent Model --- p.7<br>Signaling Model --- p.11<br>Chapter III --- H SHARES LISTING PROCEDURE --- p.13<br>Chapt

APA, Harvard, Vancouver, ISO, and other styles

34

Liu, Cheng-Chi, and 劉承啟. "CEO overconfidence and IPO underpricing." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/90668756870056296233.

Full text

Abstract:

碩士<br>元智大學<br>財務金融暨會計碩士班(財務金融學程)<br>104<br>This paper examines the relationship between CEO confidence and IPO underpricing. From a large body of literature, we know that there are many factors that affect underpricing, and the main explanation for underpricing is asymmetric information theory. Lowry and Murphy (2007) try to find a relationship between underpricing and IPO options, Chahine and Goergen (2011) also try to find a relationship between the two by considering board independence, and the power of the CEO, and venture capitalists. However, this paper focuses on underpricing from a dif

APA, Harvard, Vancouver, ISO, and other styles

35

Chang, Chih-hui, and 張智惠. "IPO Underpricing and Long-run Performance." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/33921682796438622287.

Full text

Abstract:

碩士<br>國立中興大學<br>高階經理人碩士在職專班<br>97<br>This study examines the underpricing and the long-run post-issue performance of the initial public offerings (IPOs). The sample includes companies that went public on NYSE, AMEX and NASDAQ from 1985 to 2002. I separate the sample into two groups: “normal” IPOs and companys that undertook mergers and acquisitions (M&As) within the two years prior to the IPOs. The results show that similar to previous studies, IPOs exhibit poor long-run performance. I also find that underwriter ranking, going public on different exchanges, internet industry, and debt ratio

APA, Harvard, Vancouver, ISO, and other styles

36

Chen, Chih-Hsiang, and 陳郅翔. "Pre-market Trading and IPO Underpricing." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/37902864006650351188.

Full text

Abstract:

碩士<br>國立中山大學<br>企業管理學系研究所<br>104<br>The IPO underpricing phenomenon is common all over the world, hence the most important issue is to improve the efficiency of IPO pricing. The establishment of pre-IPO market platform is to increase the information disclosure for the preparing firms, and also be expected to achieve the purpose of price discovery. Taiwan has the only mandatory pre-IPO trading market in the world – Emerging Stock Market(ESM). So it provides an opportunity to understand the trading, the informativeness, and the association with IPO underpricing theory on the ESM market.

APA, Harvard, Vancouver, ISO, and other styles

37

Hsu, Kai-hsuan, and 許凱旋. "The Early Predictor of IPO Underpricing." Thesis, 2007. http://ndltd.ncl.edu.tw/handle/50444806176162729575.

Full text

Abstract:

碩士<br>義守大學<br>財務金融學系碩士班<br>95<br>The special features of this paper are as follows: first, Try to revise over paper about Indicators of IPO Underpricing that the parameter is weighed. Revise into the data that investors can get before offering date. After Revising, we analysis on IPO underpricing. Second, Using Quantile Regression (QR) method should help to solve the limitation if using Ordinal Least Square (OLS). The findings of this paper has ability of the early predictor about IPO underpricing. According to predicting the range is distinguished, market momentum is superior to market volat

APA, Harvard, Vancouver, ISO, and other styles

38

Henriques, Diogo Rafael Santos. "Ofertas Públicas Iniciais: Underpricing no mercado Euronext." Master's thesis, 2018. http://hdl.handle.net/10316/84464.

Full text

Abstract:

Relatório de Estágio do Mestrado em Economia apresentado à Faculdade de Economia<br>Este trabalho efetua uma análise ao fenómeno do underpricing das ofertas públicas iniciais (Initial Public Offerings - IPOs) nas bolsas europeias que integram o mercado Euronext: Lisboa, Amesterdão, Bruxelas e Paris.No período entre os anos de 2013 e 2017, verificámos indícios de underpricing no curto prazo para a amostra global, composta por 127 observações, e de overpricing no longo prazo. Particularmente, no que diz respeito á primeira semana após a realização da entrada em bolsa deparáramo-nos com evidência

APA, Harvard, Vancouver, ISO, and other styles

39

Chen, Shiao-Chin, and 陳曉親. "Internationalization, Earning Quality and Underpricing of IPOs." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/49164439133518515388.

Full text

Abstract:

碩士<br>靜宜大學<br>會計學系<br>99<br>The objective of this study is to research the relationship between the degree of globalization and initial public offering under-pricing. Because of the trend of globalization which will make company’s operation more complexity. This situation makes the asymmetric information more deeply between investors and companies. The results will reflect on the discount of new stocks price. This study explores the relationship of earning quality and the discount of new stocks. The research is targeted to the IPO in Taiwan from 2001 to 2007. It has judged the degree of global

APA, Harvard, Vancouver, ISO, and other styles

40

Hong, Yu-shan, and 洪郁珊. "Intangible Assets、IPO Underpricing and Insider Trading." Thesis, 2000. http://ndltd.ncl.edu.tw/handle/16776368857456204644.

Full text

Abstract:

碩士<br>國立彰化師範大學<br>商業教育學系<br>88<br>This paper examines the relation between magnitude of underpricing and the extent to which accounting-related information asymmetry and general information asymmetry exist. Proxies for major unrecognized intangible assets and general information asymmetry, are significantly positive related to magnitude of underpricing. Alternatively, we use another long-term proxy for magnitude of underpricing, and documents that long-term magnitude of underpricing for one year is still significantly positive related to Proxies for major unrecognized intangible assets for ele

APA, Harvard, Vancouver, ISO, and other styles

41

Wu, Chu-Yun, and 吳竺芸. "The Influential Factors on Underpricing of IPOs." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/27831366301057356702.

Full text

Abstract:

碩士<br>東吳大學<br>經濟學系<br>101<br>The purpose of this study is to investigate the factors that influence the underpricing of initial public offerings in Taiwan. The sample used is the initial public offerings in Taiwan's Stock Exchange and Over-The-Counter market during the period from 2002 to 2011. In this study, multiple regression models are constructed to find which factors influence the underpricing of IPOs. In addition to analyzing variables that have been considered by previous academic papers, this study also attempts to analyze the correlation between IPO underpricing and four kinds of sto

APA, Harvard, Vancouver, ISO, and other styles

42

Točík, Václav. "Underpricing při IPO na vybraných kapitálových trzích." Master's thesis, 2010. http://www.nusl.cz/ntk/nusl-89538.

Full text

APA, Harvard, Vancouver, ISO, and other styles

43

Chang, Wen-Hsin, and 張文心. "Relationship between management quality and IPO underpricing." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/94120974343448229076.

Full text

Abstract:

碩士<br>國立臺灣大學<br>財務金融學研究所<br>104<br>This paper tests the relationship between management quality and IPO underpricing. The sample contains 1,202 firms went IPO during 2004 to 2014 in United States. To obtain management quality data, I studied the prospectus (S-1) of each firm and focus on the management section. I derive education and work experience data from it using programming technics. I counted the number of manager who studied in top business school or had superior past work experience to decide the management quality of each IPO firm, then I test the relationship between management qual

APA, Harvard, Vancouver, ISO, and other styles

44

HUANG, YU-CHENG, and 黃俞臻. "Top Managers from Family and IPOs Underpricing." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/91872735220708402656.

Full text

Abstract:

碩士<br>靜宜大學<br>國際企業學系<br>104<br>This study uses internal angle of the main managers in the enterprises to explore the impact between IPO underpricing and the internalization of chairman and president. We selected 500 initial public offerings in Taiwan Stock Exchange. Which the family members took in charge from 2005 to 2014. This research investigates the reaction of IPO underpricing and the major shareholder and his/her family members being president or chairman. In one hand, some people think that family members have more coherence of the firm and being president or chairman has a positive in

APA, Harvard, Vancouver, ISO, and other styles

45

Chiu, Yi-long, and 邱一龍. "Venture Capital Reputation and Underpricing of IPOs." Thesis, 2007. http://ndltd.ncl.edu.tw/handle/71674657154937501906.

Full text

Abstract:

碩士<br>國立成功大學<br>財務金融研究所<br>95<br>This paper examines the premarket underpricing within a group of venture-backed and a group of non-venture-backed initial public offerings （IPOs）. Consistent with recent research, we find that venture-backed IPOs are underpriced more than other IPOs. Besides, companies backed by lower reputation venture capital are more underpriced when they go public compared to those of reputable venture firms. This stems from lower reputation venture capital firms want to establish their reputation／experience quickly by taking firms public in order to raise limited partnersh

APA, Harvard, Vancouver, ISO, and other styles

46

Yin, Chen Hsiang, and 陳香吟. "Why Has IPO Underpricing Changed Over Time?" Thesis, 2005. http://ndltd.ncl.edu.tw/handle/17164638324152681728.

Full text

Abstract:

碩士<br>輔仁大學<br>金融研究所<br>93<br>This paper took the initial public offerings (IPOs) cases of Taiwan from 1991 to 2003 as sample to examine the reason causing the decline of initial returns of IPOs. Results showed that the underwriting reform in 1994-1995 can prevent the decline of initial returns of IPOs in 1995. Besides, the decrease of the establishment period of IPO companies, the increase of the capital and total assets, the enlarge of the 3 years volatility of EPS before listing result in the IPO risks to be increased by time. The rearrangement of incentives for controlling stockholder of IP

APA, Harvard, Vancouver, ISO, and other styles

47

Liu, Chia-Yun, and 劉家妘. "ownership structure, board structure, and IPO underpricing." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/06398876304383318480.

Full text

Abstract:

碩士<br>銘傳大學<br>會計學系碩士班<br>98<br>The main purpose of this study is to investigate announcement of the new policy to remove first-five-day price the effect limits of Initial Public Offerings』on March 1, 2005, This paper investigates whether the stock prices of IPO reflect to take new policy efficiently. The sample of this study consists of 207 companies engaging in IPO from March 2005 to December 2009. The empirical results show that (1) there is a significantly negative relation between ownership of directors and supervisors with IPO underpricing. (2) And Institutional ownership is positively an

APA, Harvard, Vancouver, ISO, and other styles

48

CHEN, YI-LUN, and 陳奕綸. "Management Overconfidence on Underpricing and Stock Return." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/44w4rh.

Full text

Abstract:

碩士<br>國立中正大學<br>財務金融系研究所<br>106<br>The paper examines the influence of management overconfidence on IPO underpricing and stock performance. It also collects analyst forecasts data to see whether managers’ overconfidence will have impact on the analysts’ forecasts. For example, forecasts optimism, smaller errors and dispersion. It focuses on U.S market and use the IPO sample from 2000-2013. The research finds that management overconfidence has positive and significant influence on underpricing. The results find that managers’ overconfidence won’t let analyst forecasts more positive and less d

APA, Harvard, Vancouver, ISO, and other styles

49

Stewart, Susan M. "Investment banker prestige & underpricing of reverse LBOs." Thesis, 1994. http://spectrum.library.concordia.ca/3525/1/MM01323.pdf.

Full text

Abstract:

Looks for an explanation why reverse leveraged buyouts experience far less underpricing than initial public offerings do. Factors of riskiness of the issue and the prestige of the investment banker account for the difference.

APA, Harvard, Vancouver, ISO, and other styles

50

Wu, Jianguo. "Executive IPO stock option compensation and IPO underpricing." Thesis, 2008. http://spectrum.library.concordia.ca/975236/1/MR45531.pdf.

Full text

Abstract:

Do executives influence IPO underpricing when they stand to gain from the increased value of their IPO stock options? The present thesis examines this question for 422 U.S. software IPO firms from 1996 to 2000. The specificity of the software industry coupled with the bull market of the late 90s affects the cost-benefit tradeoff an executive faces with respect to the offer price of an IPO. I consider the possible interplay of traditional underpricing theories (signaling, asymmetric information, litigation and managerial influence) with high human capital intensity in a tight labor market. I co

APA, Harvard, Vancouver, ISO, and other styles

We offer discounts on all premium plans for authors whose works are included in thematic literature selections. Contact us to get a unique promo code!