dc.contributor.author | Græsvik, Ulrik Lunden | |
dc.contributor.author | Tunheim, Benjamin Andreas Hananger | |
dc.date.accessioned | 2022-11-29T10:09:31Z | |
dc.date.available | 2022-11-29T10:09:31Z | |
dc.date.issued | 2022 | |
dc.identifier.uri | https://hdl.handle.net/11250/3034687 | |
dc.description | Masteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2022 | en_US |
dc.description.abstract | This paper investigates underpricing and long-term performance of Private
Equity backed (PE-backed) initial public offerings (IPOs) in the US. We
investigate underpricing by using a sample of 443 PE-backed IPOs and 1550
non-sponsored IPOs listed on the New York Stock Exchange (NYSE) and
Nasdaq between 2002-2021. The long-term performance analysis consists of
372 PE-backed IPOs and 965 non-sponsored IPOs listed on NYSE and
Nasdaq between 2002-2016. We find that PE-backed IPOs, on average,
outperform other non-sponsored IPOs and experience less underpricing. Our
results reveal that PE-backed IPOs on average, are larger (in terms of market
capitalization) and that the level of underpricing in these issues are less
affected by the timing of the IPO compared to that of non-sponsored IPOs.
In the three years following the listing the PE-backed IPOs significantly
outperforms both other non-sponsored entities and the market (S&P500). | en_US |
dc.language.iso | eng | en_US |
dc.publisher | Handelshøyskolen BI | en_US |
dc.subject | finans finance | en_US |
dc.title | Underpricing and long-term performance of Private Equity backed IPOs | en_US |
dc.type | Master thesis | en_US |