Explaining Mispricing Of Initial Public Offerings

Topics:
IPO
Tags:
Finance,
Financial Planning,
Financial Services,
Investment,
IPO,
Underwriter Reputation,
University Of Nottingham
Source:
University of Nottingham

FREE Registration is required

Overview: This paper examines the relative importance of underpricing as a signal of firm value, underwriter certification, subscription levels of shares on offer, and uncertainty surrounding firm value on mispricing of initial public offerings. A sample of 100 Singaporean Initial Public Offerings (IPOs) during the period 1998-2000 indicates that subscription levels of shares on offer have the most significant impact on mispricing. This is followed by offer price, market value and trading volume in IPO shares on the first day of trading, and uncertainty surrounding firm value. Underwriter reputation appears to be only marginally influential, while equity market conditions and industry sector effects seem to be irrelevant in explaining mispricing.

(Is this item miscategorized? Does it need more tags? Let us know.)

Format: PDF | Size: 178KB | Date: Oct 2005 | Pages: 56

People who downloaded this item also downloaded

White Paper Determinants Of IPO Valuation
White Paper Initial Public Offerings: An Analysis Of Theory And Practice
White Paper Underwriter Manipulation In Initial Public Offerings
White Paper Prospect Theory And The Long-Run Performance Of IPO Stocks
White Paper Introduction To Valuation

Top results from IPO

White Paper New Insider Threat Emerges in the New Economy
White Paper A Case Study Of IPO Valuation
White Paper IPO Underpricing To Buy Holding
White Paper Differences Between European And American IPO Markets
White Paper Roadmap For An IPO: A Guide To Going Public

» View all IPO listings

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement

Returning users: Log In Here!

Already registered on BNET, TechRepublic, or ZDNet? Simply log in.

Free Membership: Sign Up Now!

Sign up for a free membership today and get instant and unlimited access to one of the largest databases of white papers, webcasts, and casestudies anywhere. Your FREE membership allows you to:

  • Download an unlimited amount of content, including classic and current white papers, case studies, webcasts and more
  • Track content on your chosen topics of interest
  • Receive targeted email alerts when your favorite content is added
  • Save content for future reading
  • Receive our member newsletter

When you register to access this directory, you become a member of BNET. In addition, you allow us to share your information with companies that produce products or services featured in the library--so that such companies may contact you with information and offers regarding their products and services. This enables us to keep the library a free service. As a directory registrant, you will receive a complimentary subscription to the BNET member newsletter, The BNET Report. You can unsubscribe from this newsletter at any time. By clicking the Sign up button, you indicate that you agree to our Terms and Conditions and have read and understand our Privacy Policy (updated).