Determinants of IPO Underpricing: Evidence from the UK market (1990-2015)
The underpricing of IPO is one of the most popular topics of researches in the financial markets these days. A large number of theoretical and empirical studies have been carried out to investigate the determinants of IPO underpricing. By using a sample of 691 IPOs in the UK market from 1990 to...
| Main Author: | |
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| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
| Published: |
2016
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| Online Access: | https://eprints.nottingham.ac.uk/36434/ |
| _version_ | 1848795283899547648 |
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| author | WANG, SHIMI |
| author_facet | WANG, SHIMI |
| author_sort | WANG, SHIMI |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | The underpricing of IPO is one of the most popular topics of researches in the financial markets these days. A large number of theoretical and empirical studies have been carried out to investigate the determinants of IPO underpricing.
By using a sample of 691 IPOs in the UK market from 1990 to 2015, this study finds out that the average underpricing level during this sample period is 18.28% while the weighted average initial return is 4.68%. Additionally, interest coverage ratio, accounts receivable days and MKT15 are found to be significantly have positive relationship with the degree of underpricing while gross income, offering price, offering size, time interval, the age of firms and total assets are negatively related to underpricing in a significant way. |
| first_indexed | 2025-11-14T19:29:38Z |
| format | Dissertation (University of Nottingham only) |
| id | nottingham-36434 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T19:29:38Z |
| publishDate | 2016 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-364342021-06-11T15:30:36Z https://eprints.nottingham.ac.uk/36434/ Determinants of IPO Underpricing: Evidence from the UK market (1990-2015) WANG, SHIMI The underpricing of IPO is one of the most popular topics of researches in the financial markets these days. A large number of theoretical and empirical studies have been carried out to investigate the determinants of IPO underpricing. By using a sample of 691 IPOs in the UK market from 1990 to 2015, this study finds out that the average underpricing level during this sample period is 18.28% while the weighted average initial return is 4.68%. Additionally, interest coverage ratio, accounts receivable days and MKT15 are found to be significantly have positive relationship with the degree of underpricing while gross income, offering price, offering size, time interval, the age of firms and total assets are negatively related to underpricing in a significant way. 2016-09-09 Dissertation (University of Nottingham only) NonPeerReviewed application/pdf en https://eprints.nottingham.ac.uk/36434/1/draft%203.5.pdf WANG, SHIMI (2016) Determinants of IPO Underpricing: Evidence from the UK market (1990-2015). [Dissertation (University of Nottingham only)] |
| spellingShingle | WANG, SHIMI Determinants of IPO Underpricing: Evidence from the UK market (1990-2015) |
| title | Determinants of IPO Underpricing: Evidence from the UK market (1990-2015) |
| title_full | Determinants of IPO Underpricing: Evidence from the UK market (1990-2015) |
| title_fullStr | Determinants of IPO Underpricing: Evidence from the UK market (1990-2015) |
| title_full_unstemmed | Determinants of IPO Underpricing: Evidence from the UK market (1990-2015) |
| title_short | Determinants of IPO Underpricing: Evidence from the UK market (1990-2015) |
| title_sort | determinants of ipo underpricing: evidence from the uk market (1990-2015) |
| url | https://eprints.nottingham.ac.uk/36434/ |