Allocation of shares to foreign and domestic investors: Firm and ownership characteristics in Swedish IPOs

Martin Abrahamson, Adri De Ridder

Forskningsoutput: TidskriftsbidragArtikelPeer review

7 Citeringar (Scopus)

Sammanfattning

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.

OriginalspråkEngelska
Sidor (från-till)52-65
Antal sidor13
TidskriftResearch in International Business and Finance
Volym34
DOI
StatusPublicerad - 2015
Externt publiceradJa

Nationell ämneskategori

  • Företagsekonomi (50202)

Fingeravtryck

Fördjupa i forskningsämnen för ”Allocation of shares to foreign and domestic investors: Firm and ownership characteristics in Swedish IPOs”. Tillsammans bildar de ett unikt fingeravtryck.

Citera det här