2011 Fiscal Year Final Research Report
IPO anomaly and idiosyncratic risk
| Project/Area Number |
21730363
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Single-year Grants |
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| Research Field |
Accounting
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| Research Institution | Tokyo Institute of Technology |
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Principal Investigator |
NAGATA Kyoko 東京工業大学, 大学院・社会理工学研究科, 准教授 (10345366)
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| Project Period (FY) |
2009 – 2011
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| Keywords | 新規株式公開 / 利益調整行動 / IPOアノマリー / 株主構成 / 株式売出 |
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| Research Abstract |
This study examines the relationship between idiosyncratic risk and IPO(initial public offerings) anomalies, focusing on the unique factors in Japanese IPO market. The results reveal indicate that pre-IPO ownership structure has a significant impact on IPO share offering and underpricing.
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