Earnings Management and StockPrice Behavior around IPOs
| Project/Area Number |
22530478
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Accounting
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| Research Institution | Osaka University (2012)
Nagoya University (2010-2011) |
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Principal Investigator |
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| Co-Investigator(Kenkyū-buntansha) |
KATO Hodeaki 名古屋大学, 大学院・経済学研究科, 教授 (80177435)
CHUJO Yoshimi 阪南大学, 経営情報学部, 准教授 (00387383)
TAKAHASHI Yoji 岐阜聖徳学園大学, 経営情報学部, 准教授 (20566533)
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| Project Period (FY) |
2010 – 2012
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| Project Status |
Completed (Fiscal Year 2012)
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| Budget Amount *help |
¥4,030,000 (Direct Cost: ¥3,100,000、Indirect Cost: ¥930,000)
Fiscal Year 2012: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2011: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2010: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
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| Keywords | 会計学 / 新規株式公開 / IPO / 財務会計 / 行動ファイナンス / アノマリー / 投資家のセンチメント |
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| Research Abstract |
Stock markets are temporarily misled by discretionary accruals at OPO, but are not in the long term. Markets value how many stocks managers hold after IPO. The more sentimental investors are, the larger under-pricings are. However under-pricings are not so large in IPO firms which are located in a city. Venture capitals in Japan neither make an investment by which an IPO firm can grow rapidly nor contribute to organize a strong manager team in an IPO firm.
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Report
(4 results)
Research Products
(40 results)
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[Journal Article] 新規株式公開をめぐる会計操作と株式市場の反応2012
Author(s)
山本達司、加藤英明
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Journal Title
Discussion Papers in Economics and Business, Graduate School of Economics and Osaka School of Public Policy, Osaka University
Volume: 12-12
Pages: 1-25
NAID
Related Report
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[Journal Article] 新規株式公開をめぐる会計操作と株式市場の反応2012
Author(s)
山本達司
-
Journal Title
Discussion Papers in Economics and Business, Graduate School of Economics and Osaka School of International Public Policy, Osaka University
Volume: 12-12
Pages: 1-25
NAID
Related Report
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