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dc.contributor.authorHove, Henrik Hystad
dc.contributor.authorFlaglien, Anders
dc.date.accessioned2019-10-09T13:26:44Z
dc.date.available2019-10-09T13:26:44Z
dc.date.issued2019
dc.identifier.urihttp://hdl.handle.net/11250/2621216
dc.descriptionMasteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2019nb_NO
dc.description.abstractThis thesis investigates the short- and long-run performance of 70 US FinTech IPOs issued between 2008 and 2018. We find that, during this period, FinTech IPOs experienced an average underpricing of 23%, which is significantly higher relative to the overall IPO market in the US in the same period (10.7%). We also find that venture capital backing has a significant positive effect on underpricing of FinTech IPOs. Moreover, high IPO activity seems to have a negative impact on the level of underpricing. In the long-run perspective, our findings indicate that FinTech IPOs experience positive abnormal returns, which is in contrast to most previous research. However, the long-run results are not statistically significant at an acceptable level and could be explained by randomness alone. Additionally, the results show that FinTech IPOs listed during a high IPO volume period have a negative effect on long-run performance. Keywords: FinTech, IPOs, underpricing, long-run abnormal returnsnb_NO
dc.language.isonobnb_NO
dc.publisherHandelshøyskolen BInb_NO
dc.subjectfinansnb_NO
dc.subjectfinancenb_NO
dc.titleUnderpricing and Long-Run Performance of FinTech IPOsnb_NO
dc.typeMaster thesisnb_NO


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