Sökning: "lockup"

Visar resultat 1 - 5 av 8 uppsatser innehållade ordet lockup.

  1. 1. Lockup expiration after IPO : Potentially abnormal returns on the Swedish Stock Exchange?

    Master-uppsats, Uppsala universitet/Företagsekonomiska institutionen

    Författare :Timothy Flysjö; Filip Daberius; [2023]
    Nyckelord :Initial Public Offering; IPO; Lockup agreements; Abnormal returns; Lockup length; Private equity; Staggered Lockups; Event Study;

    Sammanfattning : We examine 102 share lockup agreements following IPOs on the Swedish stock market and whether any abnormal returns exist in the days surrounding the expiration of lockup agreements. We also test three potential explanatory variables based on previous research, the length of the lockup agreement, the type of pre-IPO ownership for the firm (if it is backed by private equity or not), and if the lockup has multiple expiration dates (staggered lockup) or only one. LÄS MER

  3. 2. IPOs & Lockup Length: Can information asymmetry and moral hazard explain lockup length?

    C-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Författare :Johan Rudengren; Jakob Sollbe; [2020]
    Nyckelord :Initial Public Offerings; Lockup length; Information asymmetry; Moral hazard;

    Sammanfattning : In this paper we examine the determinants of IPO lockup length. The focus is primarily on moral hazard and information asymmetry. We find support for moral hazard as a driver of lockup length, but not for information asymmetry. The research is based on Swedish data and then compared to results from research done on US and UK data. LÄS MER

  4. 3. Retention of Equity: Can It Mitigate the Hidden Costs in Initial Public Offerings?

    C-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Författare :Sara Engström; Maja Ängerud; [2019]
    Nyckelord :IPO; Lockup Agreement; Long-Term Performance; Moral Hazard; Asymmetric Information;

    Sammanfattning : It has been argued that the reason to include lockup agreements when going public is to alleviate the inefficiencies inherent to the IPO market. The hidden costs of asymmetric information and moral hazard have been proposed as the driver of the lockup length as well as the reason for the poor long-term performance of IPOs. LÄS MER

  5. 4. Earnings management within IPO firms and private equity backing : Earnings management's affect on stock market reaction and IPO's adjustable offering

    Master-uppsats, Uppsala universitet/Företagsekonomiska institutionen

    Författare :Johan Eriksson; [2015]
    Nyckelord :Initial public offering; earnings management; abnormal return; IPO adjustable offering; private equity venture capital; information asymmetry;

    Sammanfattning : In order to boost the exit value, it is not uncommon that issuers report earnings in excess of cash flow generated by its operations at the initial public offering (IPO). The discretionary activity of performing earnings management can mislead investors about the intrinsic value of the newly public firm. LÄS MER

  7. 5. The Role of Lockups in Venture Capital Backed IPOs : An empirical study on the London Stock Exchange from 2009 to 2012

    Uppsats för yrkesexamina på avancerad nivå, Umeå universitet/Företagsekonomi

    Författare :Jimmy Sabel; Xinrong Wu; [2014]
    Nyckelord :Initial Public Offering IPO ; Venture capital VC ; Lockup agreement; London Stock Exchange LSE ; Event Study; Abnormal returns; Cumulative abnormal returns CAR ; Market efficiency; Trading Regulations;

    Sammanfattning : There are plenty of things said about the financial industry, an always ongoing debate, to say the least. We have identified a complex situation with three dimensions: Initial public offerings, Venture capital, and Lockup agreements. IPOs are generally difficult to put a price on because the market is not united yet, which creates uncertainties. LÄS MER