Ipo Underpricing And Afertmarket Performance In Italy

Ipo underpricing and afertmarket performance in italy

Ipo underpricing and afertmarket performance in italy

Initial Public Offerings 'IPOs', Underpricing & Performance: The Case of Top International Brands

26 PagesPosted: 11 Feb 2016

Date Written: February 10, 2016

Abstract

The study aims at investigating the relationship between Initial Public Offerings (IPOs) variables mainly underpricing on one hand, and the brand value measures on the other.

Our final data set is 104 international brand companies.

Corporate Finance- IPO and Underpricing (XiaoPing Li)

We implement empirical approach using hierarchal OLS regression and descriptive statistics. We show that underpricing is positively related to brand value which emphasizes the marketing role of going public and underpricing in enhancing brand equity through the product market, which additionally confirms some information asymmetry models.

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We also show that on average brand companies had not been recognized as brands at the IPO time. Moreover, we show the positive role of private equity in enhancing brand value, additionally, the non-linear association between underpricing and brand value is not evident.

Ipo underpricing and afertmarket performance in italy

Finally, we draw some policy implication and suggestions for future research.

Keywords: IPOs, underpricing, private equity, brand value

JEL Classification: G24, M370

Suggested Citation:Suggested Citation

Harasheh, Murad and Gatti, Stefano, Initial Public Offerings 'IPOs', Underpricing & Performance: The Case of Top International Brands (February 10, 2016).

Available at SSRN: https://ssrn.com/abstract=2730535 or http://dx.doi.org/10.2139/ssrn.2730535

Ipo underpricing and afertmarket performance in italy