Att handla till underpris genererar vinst, men för vem?: En studie av underprissatta börsintroduktioner och ägarstruktur på Aktietorget
Independent thesis Basic level (degree of Bachelor), 180 HE creditsStudent thesisAlternative title
Buying at underprice generates profit, but for whom? : A study of underpriced IPO:s and ownership structure on Aktietorget (English)
Risk-free profit sounds appealing. The opportunity to arbitrage exists. Investments in underpriced IPO:s can generate profit, but for whom?
Previous studies have shown that underpricing is a common phenomenon. This study intends to investigate whether underpricing and the arbitrage opportunity exists on Aktietorget which is a smaller venue. We also intend to clarify if pricing can affect the ownership structure after the introduction. We have examined this problem with an initial focus, but even a year after each introduction.
Our study is based on 73 IPO:s between 2007 and 2012 on Aktietorget. Through our analysis we found that underpricing and arbitrage existed during this time period. The study also shows no relationship between the IPO introductory price and institutional ownership after the introduction.
Place, publisher, year, edition, pages
2014. , 31 p.
Finansiering, börsintroduktion, underprissättning, ägarstruktur, Aktietorget
IdentifiersURN: urn:nbn:se:uu:diva-227496OAI: oai:DiVA.org:uu-227496DiVA: diva2:729856
Subject / course
Business Aministration and Economics Programme
Abrahamson, Martin, Doktorand