The Signalling Process in Initial Public Offerings
This study uses a sample of Singapore IPOs to examine the signalling process at the time of a new issue of shares. The multiple regression analysis results support three testable implications of the Grinblatt and Hwang model. We show that (1) the value of the firm is positively related to the fracti...
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1992
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sg-smu-ink.lkcsb_research-21392010-09-23T06:24:04Z The Signalling Process in Initial Public Offerings KOH, Francis LIM, Young Sain, Joseph Neo, Chin This study uses a sample of Singapore IPOs to examine the signalling process at the time of a new issue of shares. The multiple regression analysis results support three testable implications of the Grinblatt and Hwang model. We show that (1) the value of the firm is positively related to the fractional holding of the issuer, (2) the degree of underpricing is an increasing function of the variance, and (3) firm value is positively related to the degree of underpricing. 1992-10-01T07:00:00Z text https://ink.library.smu.edu.sg/lkcsb_research/1140 info:doi/10.1007/bf01732893 https://doi.org/10.1007/bf01732893 Research Collection Lee Kong Chian School Of Business eng Institutional Knowledge at Singapore Management University Business |
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Singapore Management University |
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SMU Libraries |
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Asia |
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Singapore Singapore |
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SMU Libraries |
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English |
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Business |
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Business KOH, Francis LIM, Young Sain, Joseph Neo, Chin The Signalling Process in Initial Public Offerings |
| description |
This study uses a sample of Singapore IPOs to examine the signalling process at the time of a new issue of shares. The multiple regression analysis results support three testable implications of the Grinblatt and Hwang model. We show that (1) the value of the firm is positively related to the fractional holding of the issuer, (2) the degree of underpricing is an increasing function of the variance, and (3) firm value is positively related to the degree of underpricing. |
| format |
text |
| author |
KOH, Francis LIM, Young Sain, Joseph Neo, Chin |
| author_facet |
KOH, Francis LIM, Young Sain, Joseph Neo, Chin |
| author_sort |
KOH, Francis |
| title |
The Signalling Process in Initial Public Offerings |
| title_short |
The Signalling Process in Initial Public Offerings |
| title_full |
The Signalling Process in Initial Public Offerings |
| title_fullStr |
The Signalling Process in Initial Public Offerings |
| title_full_unstemmed |
The Signalling Process in Initial Public Offerings |
| title_sort |
signalling process in initial public offerings |
| publisher |
Institutional Knowledge at Singapore Management University |
| publishDate |
1992 |
| url |
https://ink.library.smu.edu.sg/lkcsb_research/1140 https://doi.org/10.1007/bf01732893 |
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1770569811425755136 |