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| Type | Bachelor's Thesis |
| Scope | Discipline-based scholarship |
| Title | Characteristics of IPOs from an Ex-Post Perspective |
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| Institution | University of Zurich |
| Faculty | Faculty of Economics, Business Administration and Information Technology |
| Number of Pages | 42 |
| Date | 2013 |
| Abstract Text | Initial public offerings (IPOs) are one of the most important events during the life of a company and in corporate finance. They are also the foundation for the existence of equity markets. Thus, IPOs have been studied extensively. Even though an IPO could be regarded as a simple buy and sell transaction, there are some problems that make the IPO a very complex procedure. These problems are, for example, the difficulty to assess the quality of the company, the uncertainty about the future prospects of the company, and the inevitable, but very understandable, reluctance of the pre-IPO owners and managers to share private information on the company with the public. The complexity of these problems and of businesses in general led to the existence of different IPO methods, underwriting contracts, share types, a plentitude of pre-IPO owners, and many other nuances that play into the IPO process. This paper has the objective to study characteristics of IPOs from an ex-post perspective in an exploratory fashion. As an IPO is highly complex, this paper solely focuses on the three IPO characteristics, which received the most attention in academic literature. |
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