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Title: The signalling process in initial public offerings
Authors: Koh, F. 
Lim, J. 
Chin, N.
Issue Date: 1992
Citation: Koh, F., Lim, J., Chin, N. (1992). The signalling process in initial public offerings. Asia Pacific Journal of Management 9 (2) : 151-165. ScholarBank@NUS Repository.
Abstract: This study uses a sample of Singapore IPOs to examine the signalling process at the time of a new issue of shares. The multiple regression analysis results support three testable implications of the Grinblatt and Hwang model. We show that (1) the value of the firm is positively related to the fractional holding of the issuer, (2) the degree of underpricing is an increasing function of the variance, and (3) firm value is positively related to the degree of underpricing. © 1992 Faculty of Business Administration National University of Singapore.
Source Title: Asia Pacific Journal of Management
ISSN: 02174561
DOI: 10.1007/BF01732893
Appears in Collections:Staff Publications

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