Underwriter need to participate in the process of new issue
firms going public. Related reference about Taiwan's underwriter
IPOs market share haven't appear. In this study, we expect to find
out the relationship between Taiwan's underwriter IPOs market share
and some related factors. Then offer issuer, underwriter and investor
the conclusion as reference. The IPOs samples are selected during
the period 1991 through 2000 in Taiwan. There are 475 newly issued
firms in this period. We subtract some incomplete data samples and
bank samples.There are 247 IPOs samples in our regression model.
Although underwriter IPOs market share is less significantly
impacted by IPOs offer price , results imply that when offer price
is too low,this would damage issuer's benefit and lead to underwriter
IPOs market share decrease. When offer price is too high, this
would damage investor's benefit and just lightly lead to underwriter
IPOs market share decrease. Results show that there is no industry
specialization in Taiwan's underwriter industry. Although underwriter
IPOs market share is less significantly impacted by IPOs one year
performance,results imply that when underwriter market higher one year
return IPOs, this would attract more investors and lead to underwriter
IPOs market share increase.Results show that underwriter IPOs
market share is significantly impacted by nderwriter's asset
and age. The underwriter with larger asset and larger age gains more
IPOs market share.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0613101-133656 |
| Date | 13 June 2001 |
| Creators | Lin, Shih-Che |
| Contributors | Y. Chris Liao, Anlin Chen, Ruey-Dang Chang |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0613101-133656 |
| Rights | off_campus_withheld, Copyright information available at source archive |
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