subject:(IPO)

Université Catholique de Louvain

1. Perminaite, Judita. Assessment of Micro and Macro Indicators Influence on IPO Overpricing Before and After the Global Financial Crisis.

Degree: 2017, Université Catholique de Louvain

URL: http://hdl.handle.net/2078.1/thesis:10295

►

The aim of the Master thesis is to identify and to assess micro and macro indicators influence on IPO overpricing before and after the global… (more)

Subjects/Keywords: IPO; overpricing

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APA (6^th Edition):

Perminaite, J. (2017). Assessment of Micro and Macro Indicators Influence on IPO Overpricing Before and After the Global Financial Crisis. (Thesis). Université Catholique de Louvain. Retrieved from http://hdl.handle.net/2078.1/thesis:10295

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Perminaite, Judita. “Assessment of Micro and Macro Indicators Influence on IPO Overpricing Before and After the Global Financial Crisis.” 2017. Thesis, Université Catholique de Louvain. Accessed August 26, 2019. http://hdl.handle.net/2078.1/thesis:10295.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Perminaite, Judita. “Assessment of Micro and Macro Indicators Influence on IPO Overpricing Before and After the Global Financial Crisis.” 2017. Web. 26 Aug 2019.

Vancouver:

Perminaite J. Assessment of Micro and Macro Indicators Influence on IPO Overpricing Before and After the Global Financial Crisis. [Internet] [Thesis]. Université Catholique de Louvain; 2017. [cited 2019 Aug 26]. Available from: http://hdl.handle.net/2078.1/thesis:10295.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Perminaite J. Assessment of Micro and Macro Indicators Influence on IPO Overpricing Before and After the Global Financial Crisis. [Thesis]. Université Catholique de Louvain; 2017. Available from: http://hdl.handle.net/2078.1/thesis:10295

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Punjabi University

2. Chhabra, Kanchan. Pricing performance of IPOs in India; -.

Degree: Commerce, 2011, Punjabi University

URL: http://shodhganga.inflibnet.ac.in/handle/10603/4465

►

IPO market in India has had its share of ups and downs over a period, for more than the last decade. It has seen a… (more)

▼

IPO market in India has had its share of ups and downs over a period, for more than the last decade. It has seen a steep rise in the initial years of the post liberalization of Indian Economy. The growth observed during the first half of the 90s is mostly attributed to the financial liberalization of the economy. An Initial Public Offering (IPO) is the first sale of corporation?s common shares to investors on a public stock exchange. The main purpose of an IPO is to raise capital for the corporation. This study investigates 251 IPOs for measuring listing performance and 225 IPOs for measuring medium and long term performance, which raised capital, have been listed on NSE between Nov. 1994 and April 2006. Underpricing of an IPO has been measured as the return on the first day of trading while Underperformance means negative returns accrued to the investors holding these IPOs in the long run. The finding of study reveals an average initial returns or underpricing of 40.08 Per cent and if underpricing is adjusted to market return (using Nifty) for same period, the returns decline to 39.36 Per cent. To get possible explanation for short run, medium and long run underpricing for IPOs, factors like Offer Price, Offer Date, Offer Size, Listing Date, Age, Industry, Lead manager and Oversubscription of IPOs are considered. The empirical results suggests that factors including oversubscription, inverse of IPO price, year dummy for 2001, activity based industry dummy for software and Lead Manager have significant impact on underpricing. While the first four are positively related, the last variable is negatively related with underpricing. As far as medium and long run performance is considered Age, Listing Delay, Reciprocal of IPO price, Lead Manager, Oversubscription, Dummy in year 2005, Financial service Industry have been found singnificant either at the end of first, second or third year.

References p.200-230, Appendix .i-v

Advisors/Committee Members: Kaur, Rajinder.

Subjects/Keywords: Commerce; IPO

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APA (6^th Edition):

Chhabra, K. (2011). Pricing performance of IPOs in India; -. (Thesis). Punjabi University. Retrieved from http://shodhganga.inflibnet.ac.in/handle/10603/4465

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Chhabra, Kanchan. “Pricing performance of IPOs in India; -.” 2011. Thesis, Punjabi University. Accessed August 26, 2019. http://shodhganga.inflibnet.ac.in/handle/10603/4465.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Chhabra, Kanchan. “Pricing performance of IPOs in India; -.” 2011. Web. 26 Aug 2019.

Vancouver:

Chhabra K. Pricing performance of IPOs in India; -. [Internet] [Thesis]. Punjabi University; 2011. [cited 2019 Aug 26]. Available from: http://shodhganga.inflibnet.ac.in/handle/10603/4465.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Chhabra K. Pricing performance of IPOs in India; -. [Thesis]. Punjabi University; 2011. Available from: http://shodhganga.inflibnet.ac.in/handle/10603/4465

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

NSYSU

3. CHEN, ERIC. the IPO effect of Venture Capital.

Degree: Master, Finance, 2000, NSYSU

URL: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0621100-113338

► Venture Capital was first introduced to Taiwan in 1983, and plays an important role in industry development as well as technology enhancement. This research try… (more)

Subjects/Keywords: IPO

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APA (6^th Edition):

CHEN, E. (2000). the IPO effect of Venture Capital. (Thesis). NSYSU. Retrieved from http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0621100-113338

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

CHEN, ERIC. “the IPO effect of Venture Capital.” 2000. Thesis, NSYSU. Accessed August 26, 2019. http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0621100-113338.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

CHEN, ERIC. “the IPO effect of Venture Capital.” 2000. Web. 26 Aug 2019.

Vancouver:

CHEN E. the IPO effect of Venture Capital. [Internet] [Thesis]. NSYSU; 2000. [cited 2019 Aug 26]. Available from: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0621100-113338.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

CHEN E. the IPO effect of Venture Capital. [Thesis]. NSYSU; 2000. Available from: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0621100-113338

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

University of Southern California

4. Tai, Shu-Fen. A study and comparison of the IPO communications environments and communications strategies in the U.S. and Hong Kong.

Degree: MA, Strategic Public Relations, 2009, University of Southern California

URL: http://digitallibrary.usc.edu/cdm/compoundobject/collection/p15799coll127/id/327793/rec/377

► As China's economy develops rapidly, Hong Kong's securities market has played an important role in assisting the privatizations of its state-owned Enterprises (SOEs). Three of… (more)

Subjects/Keywords: IPO publicity

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APA (6^th Edition):

Tai, S. (2009). A study and comparison of the IPO communications environments and communications strategies in the U.S. and Hong Kong. (Masters Thesis). University of Southern California. Retrieved from http://digitallibrary.usc.edu/cdm/compoundobject/collection/p15799coll127/id/327793/rec/377

Chicago Manual of Style (16^th Edition):

Tai, Shu-Fen. “A study and comparison of the IPO communications environments and communications strategies in the U.S. and Hong Kong.” 2009. Masters Thesis, University of Southern California. Accessed August 26, 2019. http://digitallibrary.usc.edu/cdm/compoundobject/collection/p15799coll127/id/327793/rec/377.

MLA Handbook (7^th Edition):

Tai, Shu-Fen. “A study and comparison of the IPO communications environments and communications strategies in the U.S. and Hong Kong.” 2009. Web. 26 Aug 2019.

Vancouver:

Tai S. A study and comparison of the IPO communications environments and communications strategies in the U.S. and Hong Kong. [Internet] [Masters thesis]. University of Southern California; 2009. [cited 2019 Aug 26]. Available from: http://digitallibrary.usc.edu/cdm/compoundobject/collection/p15799coll127/id/327793/rec/377.

Council of Science Editors:

Tai S. A study and comparison of the IPO communications environments and communications strategies in the U.S. and Hong Kong. [Masters Thesis]. University of Southern California; 2009. Available from: http://digitallibrary.usc.edu/cdm/compoundobject/collection/p15799coll127/id/327793/rec/377

University of Nairobi

5. Koech, Chelangat C. Short-run and long-run ipo financial performance for firms quoted at the nairobi stock exchange .

Degree: 2011, University of Nairobi

URL: http://hdl.handle.net/11295/96817

► Anecdotal evidence from the Nairobi Stock Exchange reveals that most of the IPOs are usually underpriced more so if the share price value at the… (more)

▼ Anecdotal evidence from the Nairobi Stock Exchange reveals that most of the IPOs are usually underpriced more so if the share price value at the end of 1st day of trading is checked against the offer price. The present study sought to establish both short-run and long-run performance of post-IPO share prices. The objectives of this study were: assess the extent of under pricing of IPO's in the Nairobi Stock Exchange; assess the short-run performance of IPOs for firms listed at the Nairobi Stock Exchange; and establish the long-run performance of IPOs for firms listed at the Nairobi Stock Exchange. A descriptive survey research design was therefore undertaken in the study. The population of this study was firms that have gone public since 2001 in Kenya. There were eight such firms with complete data and were therefore studied. The daily share prices were collected from the NSE information desk for all the stocks. This data was organized using MS Excel Spreadsheets. The study found that IPOs in Kenya were underpriced by an average of 57%. On the short- run performance of IPOs, the 7-day and 15-day abnormal returns showed the market performed better in the short-run as the cumulative abnormal returns (CAR) were 0.16 for the 15-day period. As regards the long-run performance of IPOs, the one-year and two year abnormal returns showed that there was underperformance of stocks in both periods (CAR of -0.52 for 1 year period; CAR= -1.18403 for 2 year period). The study concluded that there is a long-run underperformance of IPOs in Kenya. The study recommends the need for investors to take note of the fact that IPOs are usually underpriced in Kenya and can IV therefore offer an avenue for short-term gains especially by disposing off the stocks on day 1 of trading or on day 15 of trading. The study suggests need for more studies to be carried out to determine the factors that influence long-run underperformance of stocks in Kenya as well as the determinants of short-run performance of stocks in Kenya.

Subjects/Keywords: IPO financial performance

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APA (6^th Edition):

Koech, C. C. (2011). Short-run and long-run ipo financial performance for firms quoted at the nairobi stock exchange . (Thesis). University of Nairobi. Retrieved from http://hdl.handle.net/11295/96817

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Koech, Chelangat C. “Short-run and long-run ipo financial performance for firms quoted at the nairobi stock exchange .” 2011. Thesis, University of Nairobi. Accessed August 26, 2019. http://hdl.handle.net/11295/96817.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Koech, Chelangat C. “Short-run and long-run ipo financial performance for firms quoted at the nairobi stock exchange .” 2011. Web. 26 Aug 2019.

Vancouver:

Koech CC. Short-run and long-run ipo financial performance for firms quoted at the nairobi stock exchange . [Internet] [Thesis]. University of Nairobi; 2011. [cited 2019 Aug 26]. Available from: http://hdl.handle.net/11295/96817.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Koech CC. Short-run and long-run ipo financial performance for firms quoted at the nairobi stock exchange . [Thesis]. University of Nairobi; 2011. Available from: http://hdl.handle.net/11295/96817

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

6. Hu, Xiaofan. The Degree of Underpricing in the Swedish Market : An analysis of the most relevant factors influencing IPO underpricing between main and secondary markets.

Degree: Business Administration, 2014, Umeå University

URL: http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-94622

► Underwriters evaluate the optimum price of IPO issued shares and conduct underpricing based on a higher degree of risk and information asymmetry. These are… (more)

Subjects/Keywords: IPO; Sweden; Underprice

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APA (6^th Edition):

Hu, X. (2014). 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 University. Retrieved from http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-94622

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Hu, Xiaofan. “The Degree of Underpricing in the Swedish Market : An analysis of the most relevant factors influencing IPO underpricing between main and secondary markets.” 2014. Thesis, Umeå University. Accessed August 26, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-94622.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Hu, Xiaofan. “The Degree of Underpricing in the Swedish Market : An analysis of the most relevant factors influencing IPO underpricing between main and secondary markets.” 2014. Web. 26 Aug 2019.

Vancouver:

Hu X. The Degree of Underpricing in the Swedish Market : An analysis of the most relevant factors influencing IPO underpricing between main and secondary markets. [Internet] [Thesis]. Umeå University; 2014. [cited 2019 Aug 26]. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-94622.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Hu X. 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 University; 2014. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-94622

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Jönköping University

7. Kallén, Gustav. Underpricing and underperformance of Swedish IPO’s : A comparative study of different sectors from 2007-2017.

Degree: Jönköping International Business School, 2018, Jönköping University

URL: http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-39760

► Background: The post-IPO anomalous behaviour in the short and long-run are among the well-recognised anomalies in corporate finance, and exist on all equity markets.… (more)

Subjects/Keywords: IPO underpricing; IPO underperformance; IPO sectors; Swedish IPO’s; Business Administration; Företagsekonomi

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APA (6^th Edition):

Kallén, G. (2018). Underpricing and underperformance of Swedish IPO’s : A comparative study of different sectors from 2007-2017. (Thesis). Jönköping University. Retrieved from http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-39760

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Kallén, Gustav. “Underpricing and underperformance of Swedish IPO’s : A comparative study of different sectors from 2007-2017.” 2018. Thesis, Jönköping University. Accessed August 26, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-39760.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Kallén, Gustav. “Underpricing and underperformance of Swedish IPO’s : A comparative study of different sectors from 2007-2017.” 2018. Web. 26 Aug 2019.

Vancouver:

Kallén G. Underpricing and underperformance of Swedish IPO’s : A comparative study of different sectors from 2007-2017. [Internet] [Thesis]. Jönköping University; 2018. [cited 2019 Aug 26]. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-39760.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Kallén G. Underpricing and underperformance of Swedish IPO’s : A comparative study of different sectors from 2007-2017. [Thesis]. Jönköping University; 2018. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-39760

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

University of Pretoria

8. Govindasamy, Prabeshan. The long run performance of initial public offerings in South Africa.

Degree: Gordon Institute of Business Science (GIBS), 2011, University of Pretoria

URL: http://hdl.handle.net/2263/23741

► The current research was undertaken to determine the long run performance of Initial Public Offerings (IPOs) listed on the Johannesburg Stock Exchange (JSE) in South… (more)

Subjects/Keywords: UCTD; Long run performance; Ipo

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APA (6^th Edition):

Govindasamy, Prabeshan. (2011). The long run performance of initial public offerings in South Africa. (Masters Thesis). University of Pretoria. Retrieved from http://hdl.handle.net/2263/23741

Note: this citation may be lacking information needed for this citation format:
Author name may be incomplete

Chicago Manual of Style (16^th Edition):

Govindasamy, Prabeshan. “The long run performance of initial public offerings in South Africa.” 2011. Masters Thesis, University of Pretoria. Accessed August 26, 2019. http://hdl.handle.net/2263/23741.

Note: this citation may be lacking information needed for this citation format:
Author name may be incomplete

MLA Handbook (7^th Edition):

Govindasamy, Prabeshan. “The long run performance of initial public offerings in South Africa.” 2011. Web. 26 Aug 2019.

Note: this citation may be lacking information needed for this citation format:
Author name may be incomplete

Vancouver:

Govindasamy, Prabeshan. The long run performance of initial public offerings in South Africa. [Internet] [Masters thesis]. University of Pretoria; 2011. [cited 2019 Aug 26]. Available from: http://hdl.handle.net/2263/23741.

Note: this citation may be lacking information needed for this citation format:
Author name may be incomplete

Council of Science Editors:

Govindasamy, Prabeshan. The long run performance of initial public offerings in South Africa. [Masters Thesis]. University of Pretoria; 2011. Available from: http://hdl.handle.net/2263/23741

Note: this citation may be lacking information needed for this citation format:
Author name may be incomplete

NSYSU

9. Chuang, Ying-ming. A study of key determinants for the syndication of underwriters and IPO underwriting systems in cross Tri-Regional securities markets.

Degree: Master, EMBA, 2008, NSYSU

URL: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0707108-160255

► Taiwan carries out the new underwriting rules since 2005, it is very important to the reformation of financial system, and its purpose is mainly for… (more)

▼ Taiwan carries out the new underwriting rules since 2005, it is very important to the reformation of financial system, and its purpose is mainly for responding to the reformation of underwriting rules so as to promote the quality of listed companies. At present, the underwriting method of Taiwanâs major Initial Public Offerings (IPO) stock uses the mix and collocation of two systems, public subscription by lot drawing and book building, as the underwriting method, the previous studies emphasized that the underwriter had higher right to decide the amount of placing, which can increase the responsibility and sensibility for the underwriting price, and then the result of promoting placing efficiency can be reached. This study compares the markets in Mainland China, Hong Kong, and Taiwan that have carried out book building system. This study mainly finds out, because the underwriters in Taiwan can provide higher stock weight of the placing of book building and the underwriters have higher right to decide the amount of placing, thus, it is more possible that when placing IPO stock, the company would regard its customers as the core, and this act is entirely different with the conception of the initial reformation, and unfavorable influence would be produced to the issue company or individual investor at the same time. This study sums up the previous literatures and questionnaire statistical analyses, and then proposes the influence that degree of rigor of laws and regulations, anticipated result of placing, institutional function of book building and decisive factors of placing have towards the actual results of placing of underwriters. The questionnaires are distributed to the personnel who actually are responsible for the IPO placing strategy of underwriters that have hosted actual placing results in Taiwan, Hong Kong, and Mainland China. After the comparison using single factor variance, one can find that the underwriters from Mainland China significantly think that the laws and regulations are stricter, and IPO stock has more good prospects of gain. However, the underwriters from Taiwan significantly think that the decisive factors of placing are stronger. When placing IPO stock, the underwriters from Mainland China prefer placing according to the system, while the underwriters from Taiwan prefer placing according to relationship. This study uses regression analysis to discuss the factors that influence the underwriters to carry out placing according to system or relationship. This study finds out if the degree of rigor for the two factors in laws and regulations, objective & fair and book building standard, is higher, then the underwriters will tend to carry out placing according to system more. And also, the system-oriented and price-oriented factors in decisive factors of placing also promote the underwriters carry out placing according to system. On the other hand, if the degree of rigor for the objective & fair factor in laws and regulations is higher, then the underwriters tend not to carry out placing according… Advisors/Committee Members: Naikuan Huang (chair), Tai Ma (committee member), Cheng-Yi Shiu (chair).

Subjects/Keywords: IPO; underwriting rules; book building

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APA (6^th Edition):

Chuang, Y. (2008). A study of key determinants for the syndication of underwriters and IPO underwriting systems in cross Tri-Regional securities markets. (Thesis). NSYSU. Retrieved from http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0707108-160255

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Chuang, Ying-ming. “A study of key determinants for the syndication of underwriters and IPO underwriting systems in cross Tri-Regional securities markets.” 2008. Thesis, NSYSU. Accessed August 26, 2019. http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0707108-160255.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Chuang, Ying-ming. “A study of key determinants for the syndication of underwriters and IPO underwriting systems in cross Tri-Regional securities markets.” 2008. Web. 26 Aug 2019.

Vancouver:

Chuang Y. A study of key determinants for the syndication of underwriters and IPO underwriting systems in cross Tri-Regional securities markets. [Internet] [Thesis]. NSYSU; 2008. [cited 2019 Aug 26]. Available from: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0707108-160255.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Chuang Y. A study of key determinants for the syndication of underwriters and IPO underwriting systems in cross Tri-Regional securities markets. [Thesis]. NSYSU; 2008. Available from: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0707108-160255

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

NSYSU

10. Chen, Li-wei. Liquidity, Leverage Ratio, and IPO Long-Run Performance.

Degree: Master, Business Management, 2009, NSYSU

URL: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0715109-173846

► 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… (more)

Subjects/Keywords: IPO; Fama-French; OTC

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APA (6^th Edition):

Chen, L. (2009). Liquidity, Leverage Ratio, and IPO Long-Run Performance. (Thesis). NSYSU. Retrieved from http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0715109-173846

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Chen, Li-wei. “Liquidity, Leverage Ratio, and IPO Long-Run Performance.” 2009. Thesis, NSYSU. Accessed August 26, 2019. http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0715109-173846.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Chen, Li-wei. “Liquidity, Leverage Ratio, and IPO Long-Run Performance.” 2009. Web. 26 Aug 2019.

Vancouver:

Chen L. Liquidity, Leverage Ratio, and IPO Long-Run Performance. [Internet] [Thesis]. NSYSU; 2009. [cited 2019 Aug 26]. Available from: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0715109-173846.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Chen L. Liquidity, Leverage Ratio, and IPO Long-Run Performance. [Thesis]. NSYSU; 2009. Available from: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0715109-173846

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

NSYSU

11. Tseng, Chen-i. The Issues on the Strategy for the Land Bank of Taiwan's IPO.

Degree: Master, Finance, 2015, NSYSU

URL: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0526115-011551

► After the financial crisis, the Basel Committee on Banking Supervision, proposed a complete reform of the capital and liquidity contents to the supervision department of… (more)

Subjects/Keywords: IPO; Capital adequacy; Basel III

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APA (6^th Edition):

Tseng, C. (2015). The Issues on the Strategy for the Land Bank of Taiwan's IPO. (Thesis). NSYSU. Retrieved from http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0526115-011551

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Tseng, Chen-i. “The Issues on the Strategy for the Land Bank of Taiwan's IPO.” 2015. Thesis, NSYSU. Accessed August 26, 2019. http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0526115-011551.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Tseng, Chen-i. “The Issues on the Strategy for the Land Bank of Taiwan's IPO.” 2015. Web. 26 Aug 2019.

Vancouver:

Tseng C. The Issues on the Strategy for the Land Bank of Taiwan's IPO. [Internet] [Thesis]. NSYSU; 2015. [cited 2019 Aug 26]. Available from: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0526115-011551.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Tseng C. The Issues on the Strategy for the Land Bank of Taiwan's IPO. [Thesis]. NSYSU; 2015. Available from: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0526115-011551

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

University of Pretoria

12. [No author]. The long run performance of initial public offerings in South Africa .

Degree: 2011, University of Pretoria

URL: http://upetd.up.ac.za/thesis/available/etd-04032011-155322/

► The current research was undertaken to determine the long run performance of Initial Public Offerings (IPOs) listed on the Johannesburg Stock Exchange (JSE) in South… (more)

Subjects/Keywords: UCTD; Long run performance; Ipo

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APA (6^th Edition):

author], [. (2011). The long run performance of initial public offerings in South Africa . (Masters Thesis). University of Pretoria. Retrieved from http://upetd.up.ac.za/thesis/available/etd-04032011-155322/

Chicago Manual of Style (16^th Edition):

author], [No. “The long run performance of initial public offerings in South Africa .” 2011. Masters Thesis, University of Pretoria. Accessed August 26, 2019. http://upetd.up.ac.za/thesis/available/etd-04032011-155322/.

MLA Handbook (7^th Edition):

author], [No. “The long run performance of initial public offerings in South Africa .” 2011. Web. 26 Aug 2019.

Vancouver:

author] [. The long run performance of initial public offerings in South Africa . [Internet] [Masters thesis]. University of Pretoria; 2011. [cited 2019 Aug 26]. Available from: http://upetd.up.ac.za/thesis/available/etd-04032011-155322/.

Council of Science Editors:

author] [. The long run performance of initial public offerings in South Africa . [Masters Thesis]. University of Pretoria; 2011. Available from: http://upetd.up.ac.za/thesis/available/etd-04032011-155322/

Penn State University

13. Ozdemir, Ozgur. The Impact Of Internationalization on the IPO Performance Of Service Firms: Examination of Initial Returns, Long-Run Performance and Survivability.

Degree: PhD, Hotel, Restaurant, and Institutional Management, 2012, Penn State University

URL: https://etda.libraries.psu.edu/catalog/15359

► This dissertation examines the role of internationalization on the IPO performance service companies particularly scrutinizing initial returns, long-term return and operating performance and post-IPO survivability.… (more)

Subjects/Keywords: IPO; Underpricing; Internationalization; Performance

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APA (6^th Edition):

Ozdemir, O. (2012). The Impact Of Internationalization on the IPO Performance Of Service Firms: Examination of Initial Returns, Long-Run Performance and Survivability. (Doctoral Dissertation). Penn State University. Retrieved from https://etda.libraries.psu.edu/catalog/15359

Chicago Manual of Style (16^th Edition):

Ozdemir, Ozgur. “The Impact Of Internationalization on the IPO Performance Of Service Firms: Examination of Initial Returns, Long-Run Performance and Survivability.” 2012. Doctoral Dissertation, Penn State University. Accessed August 26, 2019. https://etda.libraries.psu.edu/catalog/15359.

MLA Handbook (7^th Edition):

Ozdemir, Ozgur. “The Impact Of Internationalization on the IPO Performance Of Service Firms: Examination of Initial Returns, Long-Run Performance and Survivability.” 2012. Web. 26 Aug 2019.

Vancouver:

Ozdemir O. The Impact Of Internationalization on the IPO Performance Of Service Firms: Examination of Initial Returns, Long-Run Performance and Survivability. [Internet] [Doctoral dissertation]. Penn State University; 2012. [cited 2019 Aug 26]. Available from: https://etda.libraries.psu.edu/catalog/15359.

Council of Science Editors:

Ozdemir O. The Impact Of Internationalization on the IPO Performance Of Service Firms: Examination of Initial Returns, Long-Run Performance and Survivability. [Doctoral Dissertation]. Penn State University; 2012. Available from: https://etda.libraries.psu.edu/catalog/15359

KTH

14. CHRISTENSEN, MARSHALL. Lockup Expirations in Brazilian IPOs.

Degree: Entrepreneurship and innovation, 2012, KTH

URL: http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-154564

► In this study, we conducted an event study of 100 Brazilian IPO’s from 2004 to 2010 to detect if there was any significant abnormal… (more)

Subjects/Keywords: IPO; lockup; brazil; expirations

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APA (6^th Edition):

CHRISTENSEN, M. (2012). Lockup Expirations in Brazilian IPOs. (Thesis). KTH. Retrieved from http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-154564

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

CHRISTENSEN, MARSHALL. “Lockup Expirations in Brazilian IPOs.” 2012. Thesis, KTH. Accessed August 26, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-154564.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

CHRISTENSEN, MARSHALL. “Lockup Expirations in Brazilian IPOs.” 2012. Web. 26 Aug 2019.

Vancouver:

CHRISTENSEN M. Lockup Expirations in Brazilian IPOs. [Internet] [Thesis]. KTH; 2012. [cited 2019 Aug 26]. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-154564.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

CHRISTENSEN M. Lockup Expirations in Brazilian IPOs. [Thesis]. KTH; 2012. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-154564

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Jönköping University

15. Ramsin, Anders. Underpricing in Swedish IPOs : An investigation of the current situation and possible causes.

Degree: Jönköping International Business School, 2015, Jönköping University

URL: http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-26689

► Using a unique dataset of 41 IPOs from 2005 to 2015, we investigate the underpricing situation in the NASDAQ OMX Stockholm stock exchange. Our… (more)

Subjects/Keywords: IPO; Underpricing; Business Administration; Företagsekonomi

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APA (6^th Edition):

Ramsin, A. (2015). Underpricing in Swedish IPOs : An investigation of the current situation and possible causes. (Thesis). Jönköping University. Retrieved from http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-26689

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Ramsin, Anders. “Underpricing in Swedish IPOs : An investigation of the current situation and possible causes.” 2015. Thesis, Jönköping University. Accessed August 26, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-26689.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Ramsin, Anders. “Underpricing in Swedish IPOs : An investigation of the current situation and possible causes.” 2015. Web. 26 Aug 2019.

Vancouver:

Ramsin A. Underpricing in Swedish IPOs : An investigation of the current situation and possible causes. [Internet] [Thesis]. Jönköping University; 2015. [cited 2019 Aug 26]. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-26689.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Ramsin A. Underpricing in Swedish IPOs : An investigation of the current situation and possible causes. [Thesis]. Jönköping University; 2015. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-26689

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

University of Newcastle

16. Leung, Kwong Tak. A study on the impact of corporate governance practices on the underpricing of initial public offers in China.

Degree: 2014, University of Newcastle

URL: http://hdl.handle.net/1959.13/1044113

►

Professional Doctorate - Doctor of Business Administration (DBA)

This study examines the impact of corporate governance on the underpricing of Chinese initial public offers (IPO)… (more)

▼

Professional Doctorate - Doctor of Business Administration (DBA)

This study examines the impact of corporate governance on the underpricing of Chinese initial public offers (IPO) for the years 2005 to 2007. Underpricing refers to the situation where the IPO share price jumps substantially higher on the first day of trading. Previous studies of Chinese IPO underpricing focus on one or two corporate governance mechanisms with a few controlled variables. This study examines six groups of corporate governance variables: ownership structure, the board, the CEO, the strategic investor, ownership concentration and the underwriter. The relationship between corporate governance variables and IPO underpricing is examined by the winner’s curse theory, the ex-ante uncertainty theory, the signaling theory and the underwriter’s reputation theory which have been developed from the asymmetric information theory. This study contributes to the literature by identifying from the extant literature and investigating the impact of six groups of corporate governance variables on IPO underpricing. By using multivariate regression analysis, this study performs sub-models and full models test under the sub-sample and full sample cases for determining the impact of corporate governance on Chinese IPO underpricing. The performance of proxy variables of the corporate governance variables are compared between sub-models and the full model. Considering the sub-models only, the findings reveal that four corporate governance variables including ownership, board, CEO and ownership concentration show their impacts on Chinese IPO underpricing under full sample and sub-sample cases. Considering the full model only, similar results are obtained. If one considers the sub-models and the full model together, the findings reveal state ownership induces higher IPO underpricing (Signaling hypothesis), board supervision induces lower IPO underpricing (Signaling hypothesis) and CEO-Chairman duality induces lower IPO underpricing (Asymmetric Information and signaling hypothesis) for the research period from 2005 to 2007. The impact of board supervision on Chinese IPO underpricing has been neglected in most previous studies. Nevertheless, the board supervision performed well in hypotheses tests in this study. It follows that the role of board supervision may be considered to be an important corporate governance parameter in any future research of Chinese IPO underpricing.

Advisors/Committee Members: University of Newcastle. Faculty of Business and Law, Newcastle Business School.

Subjects/Keywords: IPO underpricing; corporate governance; China

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APA (6^th Edition):

Leung, K. T. (2014). A study on the impact of corporate governance practices on the underpricing of initial public offers in China. (Thesis). University of Newcastle. Retrieved from http://hdl.handle.net/1959.13/1044113

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Leung, Kwong Tak. “A study on the impact of corporate governance practices on the underpricing of initial public offers in China.” 2014. Thesis, University of Newcastle. Accessed August 26, 2019. http://hdl.handle.net/1959.13/1044113.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Leung, Kwong Tak. “A study on the impact of corporate governance practices on the underpricing of initial public offers in China.” 2014. Web. 26 Aug 2019.

Vancouver:

Leung KT. A study on the impact of corporate governance practices on the underpricing of initial public offers in China. [Internet] [Thesis]. University of Newcastle; 2014. [cited 2019 Aug 26]. Available from: http://hdl.handle.net/1959.13/1044113.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Leung KT. A study on the impact of corporate governance practices on the underpricing of initial public offers in China. [Thesis]. University of Newcastle; 2014. Available from: http://hdl.handle.net/1959.13/1044113

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Cornell University

17. Volkova, Ekaterina. Three Essay in Corporate Finance .

Degree: 2017, Cornell University

URL: http://hdl.handle.net/1813/51603

► This dissertation explores three different aspects in corporate finance. My first essay explores governance from the side of blockholders. My second essay explores governance from… (more)

Subjects/Keywords: Blockholder; Corporate Governance; IPO; Finance

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APA (6^th Edition):

Volkova, E. (2017). Three Essay in Corporate Finance . (Thesis). Cornell University. Retrieved from http://hdl.handle.net/1813/51603

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Volkova, Ekaterina. “Three Essay in Corporate Finance .” 2017. Thesis, Cornell University. Accessed August 26, 2019. http://hdl.handle.net/1813/51603.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Volkova, Ekaterina. “Three Essay in Corporate Finance .” 2017. Web. 26 Aug 2019.

Vancouver:

Volkova E. Three Essay in Corporate Finance . [Internet] [Thesis]. Cornell University; 2017. [cited 2019 Aug 26]. Available from: http://hdl.handle.net/1813/51603.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Volkova E. Three Essay in Corporate Finance . [Thesis]. Cornell University; 2017. Available from: http://hdl.handle.net/1813/51603

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

18. Taiany Abreu Soares. QUAL O MELHOR MOMENTO PARA A ABERTURA DE CAPITAL? ANALISANDO O TIMING DOS IPOS DAS EMPRESAS BRASILEIRAS DE ENERGIA A PARTIR DA TEORIA DE OPÇÕES REAIS.

Degree: 2011, Universidade Federal de Juiz de Fora

URL: http://www.bdtd.ufjf.br/tde_busca/arquivo.php?codArquivo=976

►

The main reasons addressed to warrant the opening of capital are the initial public offerings (IPO) are cheaper financing option for some companies (according to… (more)

▼

The main reasons addressed to warrant the opening of capital are the initial public offerings (IPO) are cheaper financing option for some companies (according to their attributes), the corporate governance brought by public-owned minimizing agency conflicts, transparency and good image of the company (strategic behavior) increases the value of their market and corporate restructuring can generate more liquidity for the company. However, for some private companies it is not a question of why go public, but rather what the most appropriate time to conduct the IPO. In this context, this study aimed to adapt to the Brazilian case, the model of the IPO timing developed by Draho (2000), which uses the real options theory as a method to determine the optimal timing for an IPO. For this, were analyzed eight Brazilian energy companies (CPFL, EDP, Cosan, Brazil Ecodiesel, St. Martin, Açúcar Guarani, MPX and OGX) that held their primary offering during the period 2000-2009. As a result, we found that all the companies studied had anticipated their timing of IPO and thus, an analysis over characteristics of primary public offerings of companies was performed with the aim of identifying the main reasons for the anticipation. It was observed as common feature the presence of venture capital in the capital structure of all companies and many optimistic investors (investors outside the company, according to the model Bouis, 2003) interested in IPOs of companies. Additionally, the sample period (year of valuation of the Brazilian stock exchange, which preceded the subprime crisis erupted in 2008) may have also contributed to this result.

As principais razões para realizar uma abertura de capital são que as ofertas de ações são uma opção de financiamento mais barata para algumas empresas (dados seus atributos), a governança corporativa trazida pela estrutruta de propriedade pública minimiza os conflitos de agência, a transparência e a boa imagem da empresa (comportamento estratégico) aumentam o valor da empresa no mercado e a reestruturação societária pode gerar mais liquidez para a empresa. Entretanto, para algumas empresas de capital fechado, a questão não é se ela deve abrir ou não o capital, mas sim quando, ou seja, qual o momento mais apropriado (timing) para realizar o IPO. Nesse contexto, o presente trabalho teve por objetivo adaptar, para o caso brasileiro, o modelo de timing de IPO desenvolvido por Draho (2000), que utiliza a teoria das opções reais como metodologia para se determinar o timing ótimo da abertura de capitais. Para tanto, foram analisadas oito empresas do setor de energia (CPFL, EDP, Cosan, Brasil Ecodiesel, São Martinho, Açúcar Guarani, MPX e OGX) que, durante o período 2000-2009, realizaram a sua oferta pública primária. Como resultado, encontrou-se que todas as empresas estudadas anteciparam o timing da sua oferta e, assim, foi realizada uma análise sobre as características das ofertas públicas primárias das empresas com o objetivo de identificar potenciais determinantes de tal antecipação. Observou-se,…

Advisors/Committee Members: Luiz Eduardo T. Brandão, Carlos de Lamare Bastian Pinto, José Simão Filho, Fernanda Finotti Cordeiro Perobelli.

Subjects/Keywords: IPO; opções reais; programação dinâmica; IPO; real options; dynamic programming; ECONOMIA

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APA (6^th Edition):

Soares, T. A. (2011). QUAL O MELHOR MOMENTO PARA A ABERTURA DE CAPITAL? ANALISANDO O TIMING DOS IPOS DAS EMPRESAS BRASILEIRAS DE ENERGIA A PARTIR DA TEORIA DE OPÇÕES REAIS. (Thesis). Universidade Federal de Juiz de Fora. Retrieved from http://www.bdtd.ufjf.br/tde_busca/arquivo.php?codArquivo=976

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Soares, Taiany Abreu. “QUAL O MELHOR MOMENTO PARA A ABERTURA DE CAPITAL? ANALISANDO O TIMING DOS IPOS DAS EMPRESAS BRASILEIRAS DE ENERGIA A PARTIR DA TEORIA DE OPÇÕES REAIS.” 2011. Thesis, Universidade Federal de Juiz de Fora. Accessed August 26, 2019. http://www.bdtd.ufjf.br/tde_busca/arquivo.php?codArquivo=976.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Soares, Taiany Abreu. “QUAL O MELHOR MOMENTO PARA A ABERTURA DE CAPITAL? ANALISANDO O TIMING DOS IPOS DAS EMPRESAS BRASILEIRAS DE ENERGIA A PARTIR DA TEORIA DE OPÇÕES REAIS.” 2011. Web. 26 Aug 2019.

Vancouver:

Soares TA. QUAL O MELHOR MOMENTO PARA A ABERTURA DE CAPITAL? ANALISANDO O TIMING DOS IPOS DAS EMPRESAS BRASILEIRAS DE ENERGIA A PARTIR DA TEORIA DE OPÇÕES REAIS. [Internet] [Thesis]. Universidade Federal de Juiz de Fora; 2011. [cited 2019 Aug 26]. Available from: http://www.bdtd.ufjf.br/tde_busca/arquivo.php?codArquivo=976.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Soares TA. QUAL O MELHOR MOMENTO PARA A ABERTURA DE CAPITAL? ANALISANDO O TIMING DOS IPOS DAS EMPRESAS BRASILEIRAS DE ENERGIA A PARTIR DA TEORIA DE OPÇÕES REAIS. [Thesis]. Universidade Federal de Juiz de Fora; 2011. Available from: http://www.bdtd.ufjf.br/tde_busca/arquivo.php?codArquivo=976

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Queensland University of Technology

19. Bennouna, Karim. IPO failures around the world.

Degree: 2015, Queensland University of Technology

URL: http://eprints.qut.edu.au/91358/

► This thesis consists of two essays on IPO failures around the world. IPO failures are defined as IPO withdrawals (Essay 1) or delistings of recent… (more)

Subjects/Keywords: Initial Public Offering; IPO Failures; IPO Withdrawals; Delistings; National Culture

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APA (6^th Edition):

Bennouna, K. (2015). IPO failures around the world. (Thesis). Queensland University of Technology. Retrieved from http://eprints.qut.edu.au/91358/

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Bennouna, Karim. “IPO failures around the world.” 2015. Thesis, Queensland University of Technology. Accessed August 26, 2019. http://eprints.qut.edu.au/91358/.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Bennouna, Karim. “IPO failures around the world.” 2015. Web. 26 Aug 2019.

Vancouver:

Bennouna K. IPO failures around the world. [Internet] [Thesis]. Queensland University of Technology; 2015. [cited 2019 Aug 26]. Available from: http://eprints.qut.edu.au/91358/.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Bennouna K. IPO failures around the world. [Thesis]. Queensland University of Technology; 2015. Available from: http://eprints.qut.edu.au/91358/

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

RMIT University

20. Sharma, S. Post-IPO operating performance in India: comprehensive study of financial and non-financial variables.

Degree: 2018, RMIT University

URL: http://researchbank.rmit.edu.au/view/rmit:162604

► This thesis comprises of three inter-related studies (papers) explaining the relevance of identified information content that is available to the participants during the IPO process… (more)

▼ This thesis comprises of three inter-related studies (papers) explaining the relevance of identified information content that is available to the participants during the IPO process in explanation of the outcomes- expected post-IPO operating performance, demand and the valuation of the IPO. The examination of the three identified information content for their relevance using cross-sectional regressions analysis is presented through three studies are: Study 1- Signal relevance of Ownership in explanation of Post-IPO operating performance and Initial returns - An Indian case study, study 2: The signal relevance of Grading of IPO for investors' response, Initial returns, and Post-IPO operating performances, and study 3: Irrelevance of corporate governance practices during the IPO process- An Indian context. This research relies on signaling theory to explain the influence of the information content in explanation of accounting measures, oversubscription and the underpricing that are used as a proxy for the post-IPO operating performance, demand and the valuation of the IPO. The finding of the thesis suggests irrelevance of the management ownership, grading of the IPO and the governance mechanism in explanation of the post-IPO operating performance. The results confirm that investors, the primary stakeholders during the IPO process while supporting the idea of grading an IPO also show their reservation to the grading criteria. The investors convey their support to the idea of grading of an IPO as they are rewarded through increased demand and valuation of graded IPOs as compared to ungraded IPOs. The study observed no difference in demand and valuation between the high and low graded IPOs. This indifference of the investors to the high or low grading conveys that investors also seem to be agreeing with the critics on grading and criteria adopted for that. The significant outcome for the study is the 'the investor's participation in the IPO activity' reflected through oversubscription being relevant in explanation of the post-IPO operating performance and the capital market return during the first day of the IPO listing. Investors decision to participate in IPO must be aggregate of all information content that may include variables yet to be identified by academic research.  The thesis highlights that it is the desire to invest successfully combined with fear of the loss of capital that investors carry in contrast to the academic research that enables them to identify and consolidate such information content available during IPO activity. Such headway on information content that is available to the market during the IPO process should bring stability to the IPO process, an enablement in creating low-cost capital in emerging as well as the developed economies.

Subjects/Keywords: Fields of Research; IPO; grading of IPO; Signalling theory; India; ownership

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APA (6^th Edition):

Sharma, S. (2018). Post-IPO operating performance in India: comprehensive study of financial and non-financial variables. (Thesis). RMIT University. Retrieved from http://researchbank.rmit.edu.au/view/rmit:162604

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Sharma, S. “Post-IPO operating performance in India: comprehensive study of financial and non-financial variables.” 2018. Thesis, RMIT University. Accessed August 26, 2019. http://researchbank.rmit.edu.au/view/rmit:162604.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Sharma, S. “Post-IPO operating performance in India: comprehensive study of financial and non-financial variables.” 2018. Web. 26 Aug 2019.

Vancouver:

Sharma S. Post-IPO operating performance in India: comprehensive study of financial and non-financial variables. [Internet] [Thesis]. RMIT University; 2018. [cited 2019 Aug 26]. Available from: http://researchbank.rmit.edu.au/view/rmit:162604.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Sharma S. Post-IPO operating performance in India: comprehensive study of financial and non-financial variables. [Thesis]. RMIT University; 2018. Available from: http://researchbank.rmit.edu.au/view/rmit:162604

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

21. Edstroem, Carl Wilhelm. Hur maximerar man abnormal avkastning på den svenska IPO-marknaden? : En studie om underprissättning och aktiekursutveckling gällande svenska börsnoteringar.

Degree: Faculty of Arts and Sciences, 2018, Linköping UniversityLinköping University

URL: http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-150349

►

Background and problem: Underpricing has been examined and determined on multiplefinancial markets around the world, but there is no consensus concerning what exactlydrives it.… (more)

▼

Background and problem: Underpricing has been examined and determined on multiplefinancial markets around the world, but there is no consensus concerning what exactlydrives it. The phenomenon creates possibilities to identify attractive investment strategiesthat may generate abnormal returns. Therefore, we have chosen to study potential driversof underpricing as well as evaluate two investment strategies in an attempt to find asuperior one. Purpose: The purpose of this study is to investigate which of the following investingstrategies “Subscribe and Sell” and “Buy and Hold” that achieves the highest abnormalreturn on the Swedish IPO-market. This will be examined over an investment horizon upto five months, with five different record dates. Furthermore, the study intends toinvestigate which potential variables that drives the underpricing and stock returns onSwedish IPOs. Method: The study applies a quantitative approach in which we, in line with earlierreference studies, practice T-test to examine which of the strategies “Buy and hold” and“Subscribe and Sell” that is the most successful. Multiple regressions will be applied toexplain the initial underpricing as well as the continued stock returns on IPOs. Ourresearch questions are phrased as hypothesis to simplify the implementation of statisticaltests as well as the interpretation of the results. Theories explaining underpricing of IPOshave been approximated as variables to measure their effect on the IPO. Conclusion: The results from the study states the existence of abnormal returns on theSwedish IPO-market between the years 2012 and 2017. Furthermore, the study confirmsthe “Buy and Hold” strategy to be more successful than the “Subscribe and Sell” strategyover an investment horizon of five months. With premises from the results of the multipleregressions, three out of five variables showed significance, which approximated the theories the Bandwagon effect, the Small Firm Effect and Ex-Ante Uncertainty. Keywords: IPO, underpricing, abnormal return

Bakgrund och problem: Underprissättning har länge studerats och fastställts på flertaletfinansiella marknader runtom i världen, men det råder ingen konsensus om vad som exaktligger till grund för den. Fenomenet skapar möjligheten till att identifiera attraktivainvesteringsstrategier, som potentiellt kan generera en abnormal avkastning. Motbakgrund av detta har vi valt att studera potentiella drivare av underprissättning ochfortsatt aktiekursutveckling samt utvärdera två investeringsstrategier i ett försök av atthitta en överlägsen strategi. Syfte: Syftet med studien är att undersöka vilken av investeringsstrategierna “Teckna-Sälj” och “Buy and Hold” som uppnår högst abnormal avkastning på den svenska IPOmarknaden. Detta görs under en investeringshorisont på upp till fem månader, medavstämningsdagar vid fem tillfällen. Vidare ämnar uppsatsen att undersöka vilkapotentiella variabler som driver underprissättning och aktiekursutveckling på svenskabörsnoteringar. Metod: Studien…

Subjects/Keywords: IPO; underpricing; abnormal return; IPO; underprissättning; abnormal avkastning; Business Administration; Företagsekonomi

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APA (6^th Edition):

Edstroem, C. W. (2018). Hur maximerar man abnormal avkastning på den svenska IPO-marknaden? : En studie om underprissättning och aktiekursutveckling gällande svenska börsnoteringar. (Thesis). Linköping UniversityLinköping University. Retrieved from http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-150349

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Edstroem, Carl Wilhelm. “Hur maximerar man abnormal avkastning på den svenska IPO-marknaden? : En studie om underprissättning och aktiekursutveckling gällande svenska börsnoteringar.” 2018. Thesis, Linköping UniversityLinköping University. Accessed August 26, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-150349.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Edstroem, Carl Wilhelm. “Hur maximerar man abnormal avkastning på den svenska IPO-marknaden? : En studie om underprissättning och aktiekursutveckling gällande svenska börsnoteringar.” 2018. Web. 26 Aug 2019.

Vancouver:

Edstroem CW. Hur maximerar man abnormal avkastning på den svenska IPO-marknaden? : En studie om underprissättning och aktiekursutveckling gällande svenska börsnoteringar. [Internet] [Thesis]. Linköping UniversityLinköping University; 2018. [cited 2019 Aug 26]. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-150349.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Edstroem CW. Hur maximerar man abnormal avkastning på den svenska IPO-marknaden? : En studie om underprissättning och aktiekursutveckling gällande svenska börsnoteringar. [Thesis]. Linköping UniversityLinköping University; 2018. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-150349

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

22. HELBING, PIA. On IPO Withdrawal.

Degree: School of Business. Discipline of Business & Administrative Studies, 2019, Trinity College Dublin

URL: http://hdl.handle.net/2262/88804

► This doctoral thesis offers insights into the determinants, outcomes and predictions of IPO withdrawal in 21st-century Western Europe by focusing on three distinct investigations. These… (more)

▼ This doctoral thesis offers insights into the determinants, outcomes and predictions of IPO withdrawal in 21st-century Western Europe by focusing on three distinct investigations. These investigations are motivated by a comprehensive literature review and underpinned by an overview of the European IPO setting. An integrative database is created on completed and withdrawn IPO filings from 2001 to 2017 in France, Germany, Italy, Spain and the UK. Regulatory, economic and market conditions as well as offer, firm and corporate governance characteristics are explored. The first investigation establishes the IPO withdrawal as a common feature of the main markets in Europe. Most companies that withdraw blame unfavourable market conditions; however, IPO offer and corporate governance characteristics emerge to be the main drivers of IPO withdrawal. A pronounced alignment of the determinants of IPO withdrawal is revealed under the lens of European equity market integration. The second investigation focuses on the determinants and timing of the different post-IPO withdrawal outcomes: private, inactive, M&A and trading. It is suggested that the IPO is one of several alternatives in which private equity and venture capital pursue a dual-track strategy. Better corporate governance at the time of the IPO filing reduces the probability of a negative post-withdrawal outcome. Little evidence on second time IPOs disregards the market timing arguments. The third investigation suggests that IPO withdrawal can be predicted and is not random. It is demonstrated that there are common determinants of IPO withdrawal shared by all European IPOs, regardless of the particular stock exchange or country of domicile. Superior post-IPO withdrawal outcomes exhibit a higher predicted IPO withdrawal probability which implies a dual-track strategy. Finally, the three investigations in this thesis provide compelling results to answer the set of specific research questions. Additional and potential inquiries are identified for future research throughout the thesis. Advisors/Committee Members: Lucey, Brian.

Subjects/Keywords: IPO; IPO Withdrawal; Europe; M&A; Probit; Survival; Private Equity

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APA (6^th Edition):

HELBING, P. (2019). On IPO Withdrawal. (Thesis). Trinity College Dublin. Retrieved from http://hdl.handle.net/2262/88804

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

HELBING, PIA. “On IPO Withdrawal.” 2019. Thesis, Trinity College Dublin. Accessed August 26, 2019. http://hdl.handle.net/2262/88804.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

HELBING, PIA. “On IPO Withdrawal.” 2019. Web. 26 Aug 2019.

Vancouver:

HELBING P. On IPO Withdrawal. [Internet] [Thesis]. Trinity College Dublin; 2019. [cited 2019 Aug 26]. Available from: http://hdl.handle.net/2262/88804.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

HELBING P. On IPO Withdrawal. [Thesis]. Trinity College Dublin; 2019. Available from: http://hdl.handle.net/2262/88804

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

23. Ren, Jinjuan (任錦娟). Investor sentiments, agency conflicts, and IPO underpricing.

Degree: 2009, University of Macau

URL: http://hdl.handle.net/10692/2030

► New shares are on average underpriced by 17% in the United States. The average underpricing in China is even more than 100% from 1992 to… (more)

▼ New shares are on average underpriced by 17% in the United States. The average underpricing in China is even more than 100% from 1992 to 2008. This phenomenon has been a mystery for several decades and researchers have continuously proposed new explanations for this unsolved anomaly. My paper adds to the literature from two perspectives.The first essay investigates the underpricing phenomenon in the international finance context. I propose that for a firm cross-listed in multiple markets, the price of the first-issued share serves as a reference for pricing subsequently issued shares, and that this reference role contains both an informational and anchoring aspect. I examine a group of Chinese firms that first issued foreign shares and then domestic A-shares. Other than its informational role in this sample, the foreign share price is hypothesized to anchor down the A-share offer price so that the difference in the costs of capital between two markets contributes to the A-share underpricing. The empirical results support this dual-role hypothesis. Overall, this essay proposes a behavioral bias that may take effect in pricing new shares in cross-listings. It also has strong implications for the Chinese stock market reform.The second essay utilizes a unique dataset of 279 Chinese IPO issued from 2005 to 2008, priced with a “bookbuilding” method. However, regulations put various restraints on underwriters’ discretions in allocating shares so that information elicited in this process is marginal. I utilize public data on allocations to institutions to establish the relation between underwriters and institutions to investigate the impact of agency conflicts. I utilize the public data on oversubscriptions by institutions and retail investors to examine the impact of individual investor sentiments. Results show that when a larger number of the underwriter’s regular costumers participate in the subscription, or ex-post regular subscribers contribute more capital in the subscription, the offer price is less upward revised, and the first-day initial return is higher. Only regular institutions respond to upward price revision by subscribing less. These findings support the agency story that underwriters deliberately underprice the share to appeal to their important subscribers. I also discover robust negative relation between first-day return and long-run performance, which is consistent with the sentiment story. To conclude, I show that in a market where underwriters lack capability to elicit information during the “bookbuilding” process, agency conflicts and investor sentiments contribute to underpricing.

Subjects/Keywords: sentiment; IPO; underpricing; China; agency problem

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APA (6^th Edition):

Ren, J. (. (2009). Investor sentiments, agency conflicts, and IPO underpricing. (Thesis). University of Macau. Retrieved from http://hdl.handle.net/10692/2030

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Ren, Jinjuan (任錦娟). “Investor sentiments, agency conflicts, and IPO underpricing.” 2009. Thesis, University of Macau. Accessed August 26, 2019. http://hdl.handle.net/10692/2030.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Ren, Jinjuan (任錦娟). “Investor sentiments, agency conflicts, and IPO underpricing.” 2009. Web. 26 Aug 2019.

Vancouver:

Ren J(. Investor sentiments, agency conflicts, and IPO underpricing. [Internet] [Thesis]. University of Macau; 2009. [cited 2019 Aug 26]. Available from: http://hdl.handle.net/10692/2030.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Ren J(. Investor sentiments, agency conflicts, and IPO underpricing. [Thesis]. University of Macau; 2009. Available from: http://hdl.handle.net/10692/2030

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Uppsala University

24. Fornstedt, Johan. Underprissättning vid börsintroduktion av högteknologiska företag.

Degree: Business Studies, 2017, Uppsala University

URL: http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-340735

► I denna uppsats är syftet att undersöka om högteknologiska- underprissätts mer jämfört med icke-högteknologiska företag. Detta gäller genomförandet av IPOs första januari mellan åren… (more)

Subjects/Keywords: Högteknologi; underprissättning; IPO; Business Administration; Företagsekonomi

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APA (6^th Edition):

Fornstedt, J. (2017). Underprissättning vid börsintroduktion av högteknologiska företag. (Thesis). Uppsala University. Retrieved from http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-340735

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Fornstedt, Johan. “Underprissättning vid börsintroduktion av högteknologiska företag.” 2017. Thesis, Uppsala University. Accessed August 26, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-340735.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Fornstedt, Johan. “Underprissättning vid börsintroduktion av högteknologiska företag.” 2017. Web. 26 Aug 2019.

Vancouver:

Fornstedt J. Underprissättning vid börsintroduktion av högteknologiska företag. [Internet] [Thesis]. Uppsala University; 2017. [cited 2019 Aug 26]. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-340735.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Fornstedt J. Underprissättning vid börsintroduktion av högteknologiska företag. [Thesis]. Uppsala University; 2017. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-340735

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

NSYSU

25. Hsieh, Ching-hsiang. None.

Degree: Master, Finance, 2008, NSYSU

URL: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0708108-163216

► Since London Stock Exchange introduced bookbuilding in IPO in 1992, more and more countries also allowed companies to go IPO through bookbuilding or bookbuilding hybrid… (more)

▼ Since London Stock Exchange introduced bookbuilding in IPO in 1992, more and more countries also allowed companies to go IPO through bookbuilding or bookbuilding hybrid with other IPO mechanism. About 90% of the countries in the world allow bookbuilding, and it has formed a potential trend. There were about 60% of IPOs using bookbuilding in LSE, and almost 90% of the investors in the market were institutional investors. Under the main board is Alternative Investment Market (AIM) without any listing criteria, companies are qualified for listing just by designating a nominated advisor (NOMAD), and about 40%-50% of the investors on AIM are institutional investors. The growth of AIM were so amazing in recent years, especially, the number of IPOs has maintained above 150 issues per year during past five years, and 90% of them were through bookbuiling. The main purpose of this study is to figure out why companies tend to use bookbuilding. From the evidence of LSE, we found that the smaller company or issue is, the more possible that they would choose bookbuilding. When the market is less liquid, bookbuilding would likely be used, and stocks that sold through bookbuilding are usually less liquid. Companies listed on AIM are usually small and mediun ones, and choosing bookbuiling sometimes signals a good sign about the quality of a company for getting through with the examination from institutional investors. In addition, companies can designated a NOMAD as an underwriter, too. From the view point of maximizing underwriting profit and maintaining the relationship with institutional clients, the underwriter would also tend to use bookbuilding. Besides, we proposed that after-market cumulative abnormal return would be one of the reasons that company chooses bookbuilding, and we found evidence showing after-market cumulative abnormal return under bookbuilding is higher than under offer for subscription. Advisors/Committee Members: Cheng-Yi Shiu (chair), Tai Ma (committee member), Hu-Te Chung (chair).

Subjects/Keywords: IPO mechanism; offer for subscription; bookbuilding

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APA (6^th Edition):

Hsieh, C. (2008). None. (Thesis). NSYSU. Retrieved from http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0708108-163216

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Hsieh, Ching-hsiang. “None.” 2008. Thesis, NSYSU. Accessed August 26, 2019. http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0708108-163216.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Hsieh, Ching-hsiang. “None.” 2008. Web. 26 Aug 2019.

Vancouver:

Hsieh C. None. [Internet] [Thesis]. NSYSU; 2008. [cited 2019 Aug 26]. Available from: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0708108-163216.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Hsieh C. None. [Thesis]. NSYSU; 2008. Available from: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0708108-163216

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

University of California – Santa Cruz

26. Su, Wentao. Essays in Empirical Finance in the US and China.

Degree: Economics, 2016, University of California – Santa Cruz

URL: http://www.escholarship.org/uc/item/5kv7k72n

► This dissertation has three chapters, with concentration in financial modeling using various econometric techniques. The first chapter discusses the potential determinants of Chinese non-performing loan… (more)

▼ This dissertation has three chapters, with concentration in financial modeling using various econometric techniques. The first chapter discusses the potential determinants of Chinese non-performing loan (NPL) ratio in banking sector and its implications. By incorporating both bank specific factors and macro variables, it shows domestic credit growth rate, bank profitability measures and bank ownership play important roles in NPL ratio. Analysis on the shares proportion by different types of owners shows that increasing percentage of shares controlled by private institutional investors reduces the NPL ratio significantly. It raised a critically important question about the necessity of state owned enterprise (SOE) reform in China. The second chapter reviews two hypotheses for IPO underpricing, the general information asymmetry theory that ’underpricing’ is a consequence of investors needing to be compensated for uncertainty about the quality of the firm, and the more practical underwriter-institutional investor collusion that may explain the increasing underpricing in recent years. By studying underpricing in the context of the JOBS Act, a natural policy experiment that significantly reduces IPO disclosure requirement and yet increases the communication between institutional investors and issuers, I find that the JOBS Act increases the overall IPO underpricing 18 months after it was passed in 2012 compared to the same period before, in line with the traditional adverse selection phenomenon, but empirical analysis shows underpricing also increases correspondingly with the rising proportional shares of institutional investors in post-Act period, which supports the collusion hypothesis. The overall conclusion shows strong side effect of JOBS Act in terms of increasing underpricing to issuers and as a result more lucrative underwriting business. The third chapter focuses on US private equity market, trying to measure the effect of fund size and other fund characteristics as well as macroeconomic conditions on fund performance. The result shows that number of historical investment decisively influences the performance of funds, and inception of fund at the peak of the economic expansion seems to perform worse than other economic period. Fund size effect is ambiguous in full sample specifications but appears to be concave with respect to return when we look at this relationship in segmentation. Overall, previous experience of the investment plays an important role in continually improving the performance of the fund.

Subjects/Keywords: Economics; Finance; IPO; JOBS Act; Underpricing

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APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6^th Edition):

Su, W. (2016). Essays in Empirical Finance in the US and China. (Thesis). University of California – Santa Cruz. Retrieved from http://www.escholarship.org/uc/item/5kv7k72n

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Su, Wentao. “Essays in Empirical Finance in the US and China.” 2016. Thesis, University of California – Santa Cruz. Accessed August 26, 2019. http://www.escholarship.org/uc/item/5kv7k72n.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Su, Wentao. “Essays in Empirical Finance in the US and China.” 2016. Web. 26 Aug 2019.

Vancouver:

Su W. Essays in Empirical Finance in the US and China. [Internet] [Thesis]. University of California – Santa Cruz; 2016. [cited 2019 Aug 26]. Available from: http://www.escholarship.org/uc/item/5kv7k72n.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Su W. Essays in Empirical Finance in the US and China. [Thesis]. University of California – Santa Cruz; 2016. Available from: http://www.escholarship.org/uc/item/5kv7k72n

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

27. Rizk, Emil. IPO – påverkar den tillväxten eller inte? : En studie om svenska IPO:s mellan 1999 och 2003.

Degree: Business Studies, 2008, Södertörn University College

URL: http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-1484

►

Denna studie undersöker omsättningstillväxten i svenska företag i samband med börsintroduktionen (IPO). Studien undersöker detta genom att undersöka företagens omsättningstillväxt tre år före och… (more)

Subjects/Keywords: IPO; Börsintroduktion; Omsättningstillväxt; Tillväxt; Business studies; Företagsekonomi

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APA (6^th Edition):

Rizk, E. (2008). IPO – påverkar den tillväxten eller inte? : En studie om svenska IPO:s mellan 1999 och 2003. (Thesis). Södertörn University College. Retrieved from http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-1484

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Rizk, Emil. “IPO – påverkar den tillväxten eller inte? : En studie om svenska IPO:s mellan 1999 och 2003.” 2008. Thesis, Södertörn University College. Accessed August 26, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-1484.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Rizk, Emil. “IPO – påverkar den tillväxten eller inte? : En studie om svenska IPO:s mellan 1999 och 2003.” 2008. Web. 26 Aug 2019.

Vancouver:

Rizk E. IPO – påverkar den tillväxten eller inte? : En studie om svenska IPO:s mellan 1999 och 2003. [Internet] [Thesis]. Södertörn University College; 2008. [cited 2019 Aug 26]. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-1484.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Rizk E. IPO – påverkar den tillväxten eller inte? : En studie om svenska IPO:s mellan 1999 och 2003. [Thesis]. Södertörn University College; 2008. Available from: http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-1484

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

University of Otago

28. Kuan, Cheah Wai. The Hong Kong IPO underpricing phenomenon and the underwriter reputation .

Degree: 2011, University of Otago

URL: http://hdl.handle.net/10523/1327

► The primary focus of this study is on the underpricing phenomenon in the Hong Kong IPO market. The study examines the link between the reputation… (more)

Subjects/Keywords: Underpricing; Hong Kong IPO market; underwriters

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APA (6^th Edition):

Kuan, C. W. (2011). The Hong Kong IPO underpricing phenomenon and the underwriter reputation . (Masters Thesis). University of Otago. Retrieved from http://hdl.handle.net/10523/1327

Chicago Manual of Style (16^th Edition):

Kuan, Cheah Wai. “The Hong Kong IPO underpricing phenomenon and the underwriter reputation .” 2011. Masters Thesis, University of Otago. Accessed August 26, 2019. http://hdl.handle.net/10523/1327.

MLA Handbook (7^th Edition):

Kuan, Cheah Wai. “The Hong Kong IPO underpricing phenomenon and the underwriter reputation .” 2011. Web. 26 Aug 2019.

Vancouver:

Kuan CW. The Hong Kong IPO underpricing phenomenon and the underwriter reputation . [Internet] [Masters thesis]. University of Otago; 2011. [cited 2019 Aug 26]. Available from: http://hdl.handle.net/10523/1327.

Council of Science Editors:

Kuan CW. The Hong Kong IPO underpricing phenomenon and the underwriter reputation . [Masters Thesis]. University of Otago; 2011. Available from: http://hdl.handle.net/10523/1327

University of Otago

29. Zhang, Jie. An empirical study of the effect of the Chinese institutional feature on IPO underpricing .

Degree: 2011, University of Otago

URL: http://hdl.handle.net/10523/1369

► This study fills the gap of current studies by focussing on the effect that the special institutional features of Chinese IPOs have on underpricing. The… (more)

Subjects/Keywords: Chinese IPO; PE ratio; firm size; Underpricing

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APA (6^th Edition):

Zhang, J. (2011). An empirical study of the effect of the Chinese institutional feature on IPO underpricing . (Masters Thesis). University of Otago. Retrieved from http://hdl.handle.net/10523/1369

Chicago Manual of Style (16^th Edition):

Zhang, Jie. “An empirical study of the effect of the Chinese institutional feature on IPO underpricing .” 2011. Masters Thesis, University of Otago. Accessed August 26, 2019. http://hdl.handle.net/10523/1369.

MLA Handbook (7^th Edition):

Zhang, Jie. “An empirical study of the effect of the Chinese institutional feature on IPO underpricing .” 2011. Web. 26 Aug 2019.

Vancouver:

Zhang J. An empirical study of the effect of the Chinese institutional feature on IPO underpricing . [Internet] [Masters thesis]. University of Otago; 2011. [cited 2019 Aug 26]. Available from: http://hdl.handle.net/10523/1369.

Council of Science Editors:

Zhang J. An empirical study of the effect of the Chinese institutional feature on IPO underpricing . [Masters Thesis]. University of Otago; 2011. Available from: http://hdl.handle.net/10523/1369

Florida International University

30. Hurwitz, Catalina. Three Essays on Diversification and Corporate Policies.

Degree: PhD, Business Administration, 2016, Florida International University

URL: http://digitalcommons.fiu.edu/etd/2623 ; 10.25148/etd.FIDC000702 ; FIDC000702

► In the first essay using a sample of 3437 U.S. companies over the period 1992-2014, I demonstrate that international business activities of newly listed… (more)

▼ In the first essay using a sample of 3437 U.S. companies over the period 1992-2014, I demonstrate that international business activities of newly listed firms influence their corporate policies. Specifically, firms earning foreign pre-tax income at an early phase of their growth and development have higher investment and a higher propensity to acquire. I show that cash holdings are lower for firms involved in foreign activities, supportive of Duchin’s (2010) coinsurance theory. Further, CEOs of globally diversified firms have less pay-for-performance sensitivity than those of purely domestic firms. The second essay examines the impact of the Sarbanes-Oxley Act (SOX, 2002) on excess valuation calculated with the “chop shop” approach, which is typically used to measure the diversification discount. The results indicate a significant drop in excess valuation after SOX for both pure-play and multi-segment companies. Additional investigation of the calculation methodology and a difference-in-differences model show no distinction in this impact between un-accelerated and accelerated companies. There is no evidence to support that the Sarbanes-Oxley Act leads firms to diversify or focus. I run several robustness tests by including 2003 observations, creating a 2000-2006 subsample, excluding geographic segments. Finally, when in a firm's life would it fit for it to become involved in global strategies? What are the important influences on the decisions of young and mature firms to go international? I answer these questions in the third essay by examining the determinants that affect the choices of born-globals (BGs) and born-again globals (BaGs) to expand worldwide. My study is based on pre-existent theories of diversification, and I place specific emphasis on the conceivable role of peer influence and the motivation or desire for growth. I further study the entrenchment, the idiosyncratic risk, and the innovation caliber hypothesis. My results document that innovation efficiency strongly enhances BG’s propensity to global diversify. On the other hand, peer pressure, CEO ownership and idiosyncratic risk level significantly influence BGs not to globalize. In contrast, BaGs are positively influenced by their industry peers, showing how competition works in the financial markets for youthful versus mature companies. Advisors/Committee Members: Wen-Hsiu (Julia) Chou, Arun J. Prakash, Chun-Hao Chang, Gauri L. Ghai.

Subjects/Keywords: Diversification; Globalization; Corporate Policies; IPO; SOX

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APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6^th Edition):

Hurwitz, C. (2016). Three Essays on Diversification and Corporate Policies. (Doctoral Dissertation). Florida International University. Retrieved from http://digitalcommons.fiu.edu/etd/2623 ; 10.25148/etd.FIDC000702 ; FIDC000702

Chicago Manual of Style (16^th Edition):

Hurwitz, Catalina. “Three Essays on Diversification and Corporate Policies.” 2016. Doctoral Dissertation, Florida International University. Accessed August 26, 2019. http://digitalcommons.fiu.edu/etd/2623 ; 10.25148/etd.FIDC000702 ; FIDC000702.

MLA Handbook (7^th Edition):

Hurwitz, Catalina. “Three Essays on Diversification and Corporate Policies.” 2016. Web. 26 Aug 2019.

Vancouver:

Hurwitz C. Three Essays on Diversification and Corporate Policies. [Internet] [Doctoral dissertation]. Florida International University; 2016. [cited 2019 Aug 26]. Available from: http://digitalcommons.fiu.edu/etd/2623 ; 10.25148/etd.FIDC000702 ; FIDC000702.

Council of Science Editors:

Hurwitz C. Three Essays on Diversification and Corporate Policies. [Doctoral Dissertation]. Florida International University; 2016. Available from: http://digitalcommons.fiu.edu/etd/2623 ; 10.25148/etd.FIDC000702 ; FIDC000702

Open Access Theses and Dissertations