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26. |
- Abrahamson, Martin, 1977-
(författare)
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Offer Price and Ownership Structure : A Study of Shareholders in Swedish IPOs 2006–2016
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- This study uses the stock ownership records of Swedish firms and hand-collected Initial Public Offerings (IPOs) data to analyze the offer prices and underpricing of IPO shares and the relationship with the post-IPO ownership structure. The results show that for IPO stocks with low offer prices, individual investors hold a relatively large fraction of shares compared with IPO stocks with higher offer prices. Furthermore, for low-priced IPOs, there is a negative relationship between offer price and breadth of ownership, showing that stocks with a low price can attract more investors than stocks with higher offer prices. However, there is also a size effect, with breadth of ownership being higher for larger firms. Overall, this study shows that the offer price of an IPO firm may have a moderate effect on its post-IPO ownership structure.
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27. |
- Abrahamson, Martin, 1977-, et al.
(författare)
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Strong CEOs and Ownership Structure
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- Purpose The purpose of this paper is to examine compensation to Swedish executives over the period 1999 to 2008 and whether domestic and foreign equity ownership influence levels. Design/methodology/approach We use the strength of the Chief Executive Officer (CEO), defined as the ratio between total compensation to the CEO and total compensation to Group management, as our primary variable of interest. Cross-sectional regression analysis is used to examine if the domiciles of stockholders as well as firm specific factors can predict compensation. Findings We find a positive relationship between compensation levels to the CEO and foreign institutional investors. Higher foreign institutional holdings reduce the strength of the CEO. Our findings do not support the claim that compensation to CEO is related to firm behaviour or market related valuation measures. Practical implications This paper finds that holdings by foreign investors are negatively related to the strength of the CEO.
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28. |
- Abrahamsson, Bengt
(författare)
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Autism och samarbete
- 1995
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Annan publikation (övrigt vetenskapligt/konstnärligt)
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