AbstractsEconomics
| Institution: | Jönköping University |
|---|---|
| Department: | |
| Year: | 2015 |
| Keywords: | IPO; Underpricing; Social Sciences; Economics and Business; Business Administration; Samhällsvetenskap; Ekonomi och näringsliv; Företagsekonomi |
| Record ID: | 1337772 |
| Full text PDF: | http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-26689 |
Abstract
Using a unique dataset of 41 IPOs from 2005 to 2015, we investigate the underpricing situation in the NASDAQ OMX Stockholm stock exchange. Our findings show a mean underpricing of 4.9% for the period, with values ranging from -20% to 28.3%. Further, we use a set of statistical models to explore the impact on underpricing from the issuing company’s age and size, choice of underwriter, their line of industry, and the size of their offering, all with some surprising results.
