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- Categoria: Area Sociale
- Scritto da Elena Moneta
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PubbliTesi - La Tesi
Short and Long Run Performance of European IPOs: A Focus on Private Equity backed IPOs
Scheda Sintetica
Autore: Elena Moneta
Relatore: Giacomo Buchi
Università: Università degli Studi di Torino
Facoltà: Dipartimento Scienze economico-sociali e matematico-statistiche
Corso: Corso di Laurea magistrale in Economia e management
Data di Discussione: 30/11/2015
Voto: 110 cum laude
Disciplina: Finanza
Lingua: Inglese
Grande Area: Area Sociale
Dignità di Stampa: Si
Settori Interessati: Finanza, investment banking, private equity
Descrizione:
This paper examines the European Initial Public Offering market characteristics over the last decade with reference to underpricing and long run performance. In particular, a first study highlights the extent to which these phenomena have occurred in the analysed timeframe. Moreover, a comparative analysis enhances the differences between those IPOs that are exit strategies for Private Equity firms and those that are not. The results confirm that in the last decade European IPOs have continued to present both underpricings and long-term underperformance compared to the stock market. In addition, the studies of this paper have shown that European Private Equity sponsored IPOs are characterised by strong long-term superior performance, relative to non-sponsored issues as well as to the overall stock market.