The impact of governance on IPO underpricing and performance at the country and corporate level : literature review and research directions

We update and review the current literature on IPO underpricing and performance, stressing the link with corporate governance at the country and firm-level. We focus on the separation between ownership and control and the signaling that firms' governance structure could send to the IPO market....

Full description

Autores:
González Ferrero, Maximiliano
Guzmán Vásquez, Alexander
Téllez Falla, Diego Fernando
Trujillo Dávila , María Andrea
Tipo de recurso:
Article of investigation
Fecha de publicación:
2020
Institución:
Colegio de Estudios Superiores de Administración
Repositorio:
Repositorio CESA
Idioma:
eng
OAI Identifier:
oai:repository.cesa.edu.co:10726/5067
Acceso en línea:
http://hdl.handle.net/10726/5067
https://journals.co.za/doi/10.10520/ejc-rdfin-v10-n1-a1
Palabra clave:
Signaling
Corporate governance
Initial public offering
Agency theory
Rights
License
Acceso Restringido
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oai_identifier_str oai:repository.cesa.edu.co:10726/5067
network_acronym_str CESA2
network_name_str Repositorio CESA
repository_id_str
spelling González Ferrero, Maximiliano6ed7fd26-b94e-4e41-8b5a-390d5ef46a5f600Guzmán Vásquez, Alexandere6815926-cc9f-40cd-bb0e-f549642805cf600Téllez Falla, Diego Fernando73192d46-1a72-4c82-9e37-f5b55205a208600Trujillo Dávila , María Andrea5b131e3f-c0dd-4f10-9a55-2909001129ad600González Ferrero, Maximiliano [0000-0002-8675-6911]Guzmán Vásquez, Alexander [0000-0001-7675-048X]Téllez Falla, Diego Fernando [0000-0002-1902-2870]Trujillo Dávila, María Andrea [0000-0002-9592-7890]González Ferrero, Maximiliano [17434254200]Guzmán Vásquez, Alexander [55207224400]Téllez Falla, Diego Fernando [57200984310]Trujillo Dávila, María Andrea [55206416700]2023-06-21T22:23:03Z2023-06-21T22:23:03Z2020-06-011879-9337http://hdl.handle.net/10726/5067instname:Colegio de Estudios Superiores de Administración – CESAreponame:Biblioteca Digital – CESArepourl:https://repository.cesa.edu.co/https://journals.co.za/doi/10.10520/ejc-rdfin-v10-n1-a1engAfricaGrowth InstituteSignalingCorporate governanceInitial public offeringAgency theoryThe impact of governance on IPO underpricing and performance at the country and corporate level : literature review and research directionsarticlehttp://purl.org/coar/resource_type/c_2df8fbb1http://purl.org/coar/resource_type/c_6501info:eu-repo/semantics/articlehttp://purl.org/redcol/resource_type/ARThttp://purl.org/coar/version/c_71e4c1898caa6e32Acceso Restringidohttp://vocabularies.coar-repositories.org/access_rights/c_16ec/http://purl.org/coar/access_right/c_16ecWe update and review the current literature on IPO underpricing and performance, stressing the link with corporate governance at the country and firm-level. We focus on the separation between ownership and control and the signaling that firms' governance structure could send to the IPO market. It is clear from this review that improvements in governance institutions tend to reduce underpricing and affect IPO performance positively, but it is not entirely clear how governance at the firm level could impact IPOs' underpricing and performance. As shown, there are many interesting avenues for further research in this area.https://orcid.org/0000-0002-8675-6911https://orcid.org/0000-0001-7675-048Xhttps://orcid.org/0000-0002-1902-2870https://orcid.org/0000-0002-9592-7890https://www.scopus.com/authid/detail.uri?authorId=17434254200https://www.scopus.com/authid/detail.uri?authorId=55207224400https://www.scopus.com/authid/detail.uri?authorId=57200984310https://www.scopus.com/authid/detail.uri?authorId=55206416700101Review of Development Finance10726/5067oai:repository.cesa.edu.co:10726/50672023-10-02 19:39:49.811metadata only accessBiblioteca Digital - CESAbiblioteca@cesa.edu.co
dc.title.eng.fl_str_mv The impact of governance on IPO underpricing and performance at the country and corporate level : literature review and research directions
title The impact of governance on IPO underpricing and performance at the country and corporate level : literature review and research directions
spellingShingle The impact of governance on IPO underpricing and performance at the country and corporate level : literature review and research directions
Signaling
Corporate governance
Initial public offering
Agency theory
title_short The impact of governance on IPO underpricing and performance at the country and corporate level : literature review and research directions
title_full The impact of governance on IPO underpricing and performance at the country and corporate level : literature review and research directions
title_fullStr The impact of governance on IPO underpricing and performance at the country and corporate level : literature review and research directions
title_full_unstemmed The impact of governance on IPO underpricing and performance at the country and corporate level : literature review and research directions
title_sort The impact of governance on IPO underpricing and performance at the country and corporate level : literature review and research directions
dc.creator.fl_str_mv González Ferrero, Maximiliano
Guzmán Vásquez, Alexander
Téllez Falla, Diego Fernando
Trujillo Dávila , María Andrea
dc.contributor.author.spa.fl_str_mv González Ferrero, Maximiliano
Guzmán Vásquez, Alexander
Téllez Falla, Diego Fernando
Trujillo Dávila , María Andrea
dc.contributor.orcid.none.fl_str_mv González Ferrero, Maximiliano [0000-0002-8675-6911]
Guzmán Vásquez, Alexander [0000-0001-7675-048X]
Téllez Falla, Diego Fernando [0000-0002-1902-2870]
Trujillo Dávila, María Andrea [0000-0002-9592-7890]
dc.contributor.scopus.none.fl_str_mv González Ferrero, Maximiliano [17434254200]
Guzmán Vásquez, Alexander [55207224400]
Téllez Falla, Diego Fernando [57200984310]
Trujillo Dávila, María Andrea [55206416700]
dc.subject.none.fl_str_mv Signaling
Corporate governance
Initial public offering
Agency theory
topic Signaling
Corporate governance
Initial public offering
Agency theory
description We update and review the current literature on IPO underpricing and performance, stressing the link with corporate governance at the country and firm-level. We focus on the separation between ownership and control and the signaling that firms' governance structure could send to the IPO market. It is clear from this review that improvements in governance institutions tend to reduce underpricing and affect IPO performance positively, but it is not entirely clear how governance at the firm level could impact IPOs' underpricing and performance. As shown, there are many interesting avenues for further research in this area.
publishDate 2020
dc.date.issued.none.fl_str_mv 2020-06-01
dc.date.accessioned.none.fl_str_mv 2023-06-21T22:23:03Z
dc.date.available.none.fl_str_mv 2023-06-21T22:23:03Z
dc.type.none.fl_str_mv article
dc.type.coar.fl_str_mv http://purl.org/coar/resource_type/c_6501
dc.type.coar.none.fl_str_mv http://purl.org/coar/resource_type/c_2df8fbb1
dc.type.driver.none.fl_str_mv info:eu-repo/semantics/article
dc.type.redcol.none.fl_str_mv http://purl.org/redcol/resource_type/ART
dc.type.coarversion.none.fl_str_mv http://purl.org/coar/version/c_71e4c1898caa6e32
format http://purl.org/coar/resource_type/c_2df8fbb1
dc.identifier.issn.none.fl_str_mv 1879-9337
dc.identifier.uri.none.fl_str_mv http://hdl.handle.net/10726/5067
dc.identifier.instname.none.fl_str_mv instname:Colegio de Estudios Superiores de Administración – CESA
dc.identifier.reponame.none.fl_str_mv reponame:Biblioteca Digital – CESA
dc.identifier.repourl.none.fl_str_mv repourl:https://repository.cesa.edu.co/
dc.identifier.doi.none.fl_str_mv https://journals.co.za/doi/10.10520/ejc-rdfin-v10-n1-a1
identifier_str_mv 1879-9337
instname:Colegio de Estudios Superiores de Administración – CESA
reponame:Biblioteca Digital – CESA
repourl:https://repository.cesa.edu.co/
url http://hdl.handle.net/10726/5067
https://journals.co.za/doi/10.10520/ejc-rdfin-v10-n1-a1
dc.language.iso.none.fl_str_mv eng
language eng
dc.relation.citationvolume.none.fl_str_mv 10
dc.relation.citationissue.none.fl_str_mv 1
dc.relation.ispartofjournal.none.fl_str_mv Review of Development Finance
dc.rights.coar.fl_str_mv http://purl.org/coar/access_right/c_16ec
dc.rights.local.none.fl_str_mv Acceso Restringido
dc.rights.coar.none.fl_str_mv http://vocabularies.coar-repositories.org/access_rights/c_16ec/
rights_invalid_str_mv Acceso Restringido
http://vocabularies.coar-repositories.org/access_rights/c_16ec/
http://purl.org/coar/access_right/c_16ec
dc.publisher.none.fl_str_mv AfricaGrowth Institute
publisher.none.fl_str_mv AfricaGrowth Institute
institution Colegio de Estudios Superiores de Administración
repository.name.fl_str_mv Biblioteca Digital - CESA
repository.mail.fl_str_mv biblioteca@cesa.edu.co
_version_ 1793339956214628352

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