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Underpricing of US FinTech IPOs
Jönköping University, Jönköping International Business School, JIBS, Business Administration.
2018 (English)Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

This master thesis examines the effect of ex-ante uncertainty about the intrinsic value of US FinTech IPOs stock on the underpricing level. Baron (1982) Asymmetric information model and Beaty and Ritter (1986) the ex-ante uncertainty model were tested using regression analysis by selecting different proxies of ex-ante uncertainty (Firm Age and Market capitalization, IPO proceed and Number of uses of proceed, Venture backing and Underwriter reputation). The Data set consists of 62 US FinTech IPOs during the period from January, 2005 to July, 2017. The underpricing level of US FinTech IPOs was 20.46%. The market capitalization, venture backing and the number of uses of proceed were found to be significant in determining the level of underpricing. The thesis also concludes that Baron (1982) and Beaty and Ritter (1986) models don’t hold for the FinTech IPOs during the period from January, 2005 to July, 2017.

Place, publisher, year, edition, pages
2018. , p. 53
Series
JIBS Dissertation Series, ISSN 1403-0470 ; 1403-0470
Keywords [en]
FinTech, Underpericing, IPO, Ex-ante uncertainty
National Category
Business Administration
Identifiers
URN: urn:nbn:se:hj:diva-42312ISRN: JU-IHH-FÖA-2-20180767OAI: oai:DiVA.org:hj-42312DiVA, id: diva2:1272582
Subject / course
JIBS, Business Administration
Supervisors
Examiners
Available from: 2018-12-27 Created: 2018-12-19 Last updated: 2018-12-27Bibliographically approved

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CiteExportLink to record
Permanent link

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Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf