ASYMMETRIC INFORMATION AND UNDERPRICING OF INITIAL PUBLIC OFFERINGS: EVIDENCE FROM CROATIA (CROSBI ID 717682)
Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Hruška, D. ; Milković, D. ; Daraboš Longin, M.
engleski
ASYMMETRIC INFORMATION AND UNDERPRICING OF INITIAL PUBLIC OFFERINGS: EVIDENCE FROM CROATIA
Information asymmetry between issuing firm, the investment bank and the various classes of investors brings about the problem of Initial Public Offerings (IPO) underpricing. The empirical research determined that the degree of underpricing is dynamic and various markets forces interact simultaneously in observing the variation in pricing the new equity issues. By covering the twelve-year period, this paper gives analytical evidence of underpricing of initial public offerings in Croatia. By identified determinants of IPO underpricing, which are explained with the help of agency theory, signaling and behavioral theories, the paper points out to the significance of regulatory framework in this corporate governance segment.
IPO, Croatia, IPO underpricing, corporate governance
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Podaci o prilogu
70-76.
2020.
objavljeno
Podaci o matičnoj publikaciji
Cermakova, K. ; Mozayeni, D. ; Hromada, E.
Prag: International Institute of Social and Economic Sciences
978-80-7668-002-9
2336-6044
Podaci o skupu
14th Economics & Finance Conference
predavanje
28.09.2020-29.09.2020
Lisabon, Portugal