The Role of Individual Investors on IPO Pricing: Evidence from Japan
| Project/Area Number |
24730279
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Multi-year Fund |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Gifu Shotoku Gakuen University |
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Principal Investigator |
TAKAHASHI Yoji 岐阜聖徳学園大学, 経済情報学部, 准教授 (20566533)
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| Project Period (FY) |
2012-04-01 – 2016-03-31
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| Project Status |
Completed (Fiscal Year 2015)
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| Budget Amount *help |
¥2,470,000 (Direct Cost: ¥1,900,000、Indirect Cost: ¥570,000)
Fiscal Year 2014: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2013: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2012: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
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| Keywords | 新規株式公開（IPO） / 価格形成 / 個人投資家 / アロケーション / センチメント / イノベーション |
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| Outline of Final Research Achievements |
We analyzed about the role of individual investors on IPO pricing. This study explores whether and how ①allocation to individual investors, ②firm location（urban versus. rural）, ③initial price formation affects IPO pricing in Japan. We can discuss the asymmetric information and behavioral finance implication on our findings.
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Report
(5 results)
Research Products
(19 results)
