Trusting the stock market: Further evidence from IPOs around the world

Trusting the stock market: Further evidence from IPOs around the world

Using an international sample of IPO firms from 36 countries and a country-level index for societal trust, we find strong evidence that societal trust is negatively associated with the degree of IPO underpricing. In cross-sectional analyses, we find that the effect of societal trust in reducing IPO...

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Bibliographic Details
Main Authors: KANAGARETNAM, Kiridaran, LEE, Kiat Bee Jimmy, LIM, Chee Yeow, LOBO, Gerald J.
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2022
Subjects:
Societal trust
IPO underpricing
Information environment
Stock market participation
Accounting
Online Access:https://ink.library.smu.edu.sg/soa_research/1975
https://ink.library.smu.edu.sg/context/soa_research/article/3002/viewcontent/SSRN_id4119385.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/soa_research/1975
https://ink.library.smu.edu.sg/context/soa_research/article/3002/viewcontent/SSRN_id4119385.pdf

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