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Master thesis from the theme of 2013 Business Economics - Banking, Stock Exchange, Insurance, Accounting, Grade: 2.3, University of Duisburg, Essen, Courses: Energy and Finance, Languages: English, Abstract: Initial Public The offering (IPO) marks one of the company's most important events basically aimed at maximizing profits by selling company stocks to investors. In spite of this, the stocks they sell often seem to be underestimated because prices have risen sharply during the first trading day. As a result, the company generates less revenue and therefore stays on the desktop. Since this phenomenon was first discovered in the United States in 1969, subsequent studies have documented the existence of global IPO underpricing today. Given that the underpricing is costly to the company, why do companies not try to avoid this situation by setting the issue price at a very high level despite the company's "keeping the funds on the table"? One of the most striking features of this issue is that it has inspired many researchers to try to explain in various models why IPOs are generally underestimated. In addition, there has been a lot of theoretical explanation about this phenomenon, however, so far no common sense has been formed. [...]
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Orignal From: European and American Stock Market IPO Underpricing (Paperback)
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