Why small business owners should not worry about "money left on the table" in IPOs!

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aut.researcherSu, Roger
dc.contributor.authorSu, R
dc.contributor.authorHooper, K
dc.contributor.authorDutta, A
dc.contributor.authorYi, R
dc.date.accessioned2011-10-03T23:15:31Z
dc.date.available2011-10-03T23:15:31Z
dc.date.copyright2011-10-01
dc.date.issued2011-10-01
dc.description.abstractPurpose – this study aims to investigate how those directors of listed companies to make profits when their firms were listed to public. Design/methodology/approach –This is an empirical study; we adopted the formula from Ritter (2001) for this research. Findings -this study finds that directors of issuing companies usually get benefits from the money left on the table due to two factors. First, they usually retain larger percentage of shares before or after the companies going public; second, the first-day closing market price is normally higher than the initial file price ranges (defined as the expected price per share by issuing companies just before the firms go public). Originality/value - the findings may be used for future academic research literatures which focus on IPO or primary market. This research would help individual investors better understanding primary market especially IPO market.
dc.identifier.citationInternational Business Research, vol.4(4), pp.42 - 52
dc.identifier.doi10.5539/ibr.v4n4p42
dc.identifier.issn1913-9004 (print) 1913-9012 (online)
dc.identifier.urihttps://hdl.handle.net/10292/2217
dc.publisherCanadian Center of Science and Education (CCSE)
dc.relation.urihttp://www.ccsenet.org/journal/index.php/ibr/article/view/12363
dc.rightsCopyright © 2011 Canadian Center of Science and Education (http://www.ccsenet.org). All rights reserved. Copyrights for articles published in CCSE journals are retained by the authors, with first publication rights granted to the journal. The online version is free access and download. A definitive version was subsequently published in (see Citation). The original publication is available at (see Publisher's Version). The journal/publisher is not responsible for subsequent uses of the work. It is the author's responsibility to bring an infringement action if so desired by the author. This work is licensed under a Creative Commons Attribution 3.0 License.
dc.rights.accessrightsOpenAccess
dc.subjectIPO
dc.subjectListed companies
dc.subjectDirectors
dc.subjectMoney on the table
dc.subjectShareholders
dc.titleWhy small business owners should not worry about "money left on the table" in IPOs!
dc.typeJournal Article
pubs.organisational-data/AUT
pubs.organisational-data/AUT/Business & Law
pubs.organisational-data/AUT/Business & Law/Accounting
pubs.organisational-data/AUT/Business & Law/Accounting/Accounting PBRF 2012
pubs.organisational-data/AUT/PBRF Researchers
pubs.organisational-data/AUT/PBRF Researchers/Business & Law PBRF Researchers
pubs.organisational-data/AUT/PBRF Researchers/Business & Law PBRF Researchers/B & L Accounting
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