An analysis of the IPO underpricing for high-tech companies in Japan

Yang, Liang

dc.contributor.advisor	Boabang, Francis
dc.coverage.spatial	Japan
dc.creator	Yang, Liang
dc.date.accessioned	2012-09-27T15:27:18Z
dc.date.available	2012-09-27T15:27:18Z
dc.date.issued	2012
dc.identifier.uri	http://library2.smu.ca/xmlui/handle/01/24692
dc.description	1 online resource (iv, 28 leaves) : ill.
dc.description	Includes abstract.
dc.description	Includes bibliographical references (leaves 26-28).
dc.description.abstract	This paper examines the factors for IPO underpricing phenomenon in Japan between year 2002 and 2007. The paper uses the IPO sample from the high-tech industry and the sample consists of 119 IPO issues over the period 2002 and 2007. Besides, the paper examines the relationship between these factors and the degree of IPO underpricing for Japanese high-tech companies. The paper finds that issue size, market return, P/E ratio and the percentage of existing shares offered play a statistically significant role in explaining IPO underpricing for high-tech companies in Japan. The percentage of existing shares offered has the strongest relation with IPO underpricing, reflecting that IPO investors really care about how exiting shareholders view their companies’ future.	en_CA
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dc.description.provenance	Made available in DSpace on 2012-09-27T15:27:18Z (GMT). No. of bitstreams: 1 yang_liang_mrp_2012.pdf: 586224 bytes, checksum: 70641c885167e5a23b2c2e68e3cdc517 (MD5)	en
dc.language.iso	en	en_CA
dc.publisher	Halifax, N.S. : Saint Mary's University
dc.title	An analysis of the IPO underpricing for high-tech companies in Japan	en_CA
dc.type	Text	en_CA
thesis.degree.name	Master of Finance
thesis.degree.level	Masters
thesis.degree.discipline	Finance, Information Systems, & Management Science
thesis.degree.grantor	Saint Mary's University (Halifax, N.S.)