Συλλογές
Τίτλος Underpricing in U.S. IPOs during crisis
Εναλλακτικός τίτλος Υποτίμηση των δημόσιων εγγραφών στις ΗΠΑ κατά τη διάρκεια της κρίσης
Δημιουργός Zarri, Eleni
Συντελεστής Athens University of Economics and Business, Department of Accounting and Finance
Georgoutsos, Dimitrios
Drakos, Konstantinos
Leledakis, George
Τύπος Text
Φυσική περιγραφή 79 p.
Γλώσσα en
Αναγνωριστικό http://www.pyxida.aueb.gr/index.php?op=view_object&object_id=5639
Περίληψη This thesis provides a theoretical and empirical explanation of the underpricing phenomenon in Initial Public Offerings (IPOs) by using data from the U.S. Stock Exchanges. A theoretical presentation of the reasons of underpricing and the IPO market characteristics are extensively discussed. This study mainly refers to the periods “January 2007 – December 2009” which is considered as part of the Global Financial Crisis. The degree of underpricing is lower than the historical underpricing level in U.S. Exchange Market.The variables used to test the underpricing phenomenon, are the Firm’s Age, the IPO Gross Proceeds, the possibility of a firm to has secondary shares, the number of underwriters hired by each firm, the underwriters reputation, the firm’s assets, the total debt of the firm, sales per share and earnings per share. All these variables follow existing literature. They are used in order to test the effect of the Initial Theoretical Hypothesis of the Underpricing Phenomenon in U.S. The variable that was found significant in at least 10% confidence level is the total debt of the firm.
Λέξη κλειδί Underpricing
Crisis
Stock exchange
IPOs
U.S.
Υποτίμηση
Κρίση
Χρηματιστήριο
Δημόσιες εγγραφές
Αμερική
Διαθέσιμο από 2018-01-30 01:01:20
Ημερομηνία έκδοσης 2017
Ημερομηνία κατάθεσης 2018-01-30 01:01:20
Δικαιώματα χρήσης Free access
Άδεια χρήσης https://creativecommons.org/licenses/by/4.0/