Open this publication in new window or tab >>2015 (English)In: Research In International Business and Finance, ISSN 0275-5319, E-ISSN 1878-3384, Vol. 34, p. 52-65Article in journal (Refereed) Published
Abstract [en]
In this article, we analyze underpricing of initial public offerings (IPOs) and holdings following offerings in Sweden. By exploiting a unique hand-collected data set with information on the ultimate holdings by institutional and individual investors, as well as boards of directors, we find, as most prior studies, that IPOs on average are underpriced. IPOs with low (high) initial return have higher (lower) holdings by individual investors. Institutional investors are, to a greater extent than individual investors, also able to identify underpriced firms.
Place, publisher, year, edition, pages
Elsevier, 2015
Keywords
Finance, IPO, Allocation, Underpricing, Investors, Breadth of Ownership, foreign
National Category
Business Administration Social Sciences
Research subject
Business Studies
Identifiers
urn:nbn:se:uu:diva-240313 (URN)10.1016/j.ribaf.2014.12.002 (DOI)
2015-01-072015-01-072020-06-12