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Allocation of share...
Allocation of shares to foreign and domestic investors : Firm and ownership characteristics in Swedish IPOs
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- Abrahamson, Martin, 1977- (author)
- Uppsala universitet,Företagsekonomiska institutionen
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- De Ridder, Adri (author)
- Uppsala universitet,Företagsekonomiska institutionen
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(creator_code:org_t)
- Elsevier, 2015
- 2015
- English.
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In: Research In International Business and Finance. - : Elsevier. - 0275-5319 .- 1878-3384. ; 34, s. 52-65
- Related links:
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https://urn.kb.se/re...
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https://doi.org/10.1...
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Abstract
Subject headings
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- 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.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Business Administration (hsv//eng)
Keyword
- Finance
- IPO
- Allocation
- Underpricing
- Investors
- Breadth of Ownership
- foreign
- Business Studies
- Företagsekonomi
Publication and Content Type
- ref (subject category)
- art (subject category)
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