dc.contributor.author | Rodvang, Henrik Larsson | |
dc.contributor.author | Ulsrud, Steffen Grue | |
dc.date.accessioned | 2019-10-15T14:42:57Z | |
dc.date.available | 2019-10-15T14:42:57Z | |
dc.date.issued | 2019 | |
dc.identifier.uri | http://hdl.handle.net/11250/2622396 | |
dc.description | Masteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2019 | nb_NO |
dc.description.abstract | This thesis investigates whether private equity-backed initial public offerings (IPOs) are
systematically less underpriced than non-private equity-backed IPOs, whether the lower
underpricing can be accounted for by lower post-IPO dispersion in returns and whether the
lower dispersion in returns may be related to the quality of the leading private equity firm.
By researching these questions we have aimed at finding an explanation for why investors
can be indifferent between investing in private equity-backed IPOs and non-private equity
backed IPOs. We found that private equity-backed IPOs on average are less underpriced
than non-private equity-backed IPOs and the dispersion in the returns of buyout-backed
IPOs is smaller than for non-private equity-backed IPOs. Further, we find that the average
return of IPOs, where a high quality private equity firm is the leading private equity shareholder,
was more underpriced than the average non-private equity-backed IPO | nb_NO |
dc.language.iso | eng | nb_NO |
dc.publisher | Handelshøyskolen BI | nb_NO |
dc.subject | finans | nb_NO |
dc.subject | finance | nb_NO |
dc.title | Mispricing of Private Equity-Backed Initial Public Offerings | nb_NO |
dc.type | Master thesis | nb_NO |