IPO Returns and Growth Opportunities-Twaiwan stock market
碩士 === 國立中正大學 === 財務金融所 === 97 === We consider a model that highlight the role of growth opportunities in determination of offer price.We offer an explanation for IPO returns by focusing on the growth premium paid by investors.IPO returns reflect at least in part risk premiums for investing in uncer...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2009
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| Online Access: | http://ndltd.ncl.edu.tw/handle/80277782457274308398 |
| Summary: | 碩士 === 國立中正大學 === 財務金融所 === 97 === We consider a model that highlight the role of growth opportunities in determination of offer price.We offer an explanation for IPO returns by focusing on the growth premium paid by investors.IPO returns reflect at least in part risk premiums for investing in uncertain growth opportunities.We found that the initial returns is positively related to both the fraction of growth premiums and other proxies of uncertainties.
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