Fintech and IPO underpricing: An explorative study

Dario Salerno, Gabriele Sampagnaro and Vincenzo Verdoliva

Finance Research Letters, 2022, vol. 44, issue C

Abstract: Based on an international sample, this paper examines the relationship between FinTech IPOs (venture capital and equity crowdfunding-backed) and short-run performance, i.e. the level of underpricing. After correcting for selection bias, we document that FinTech IPOs are more underpriced than similar non-FinTech IPOs. The results are resilient to unobserved factors issue and confirm a positive relationship between being a Fintech IPO and a higher level of underpricing. The analysis offers a better understanding of the effects of FinTech industry on stock underpricing by providing some implications for managers and entrepreneurs.

Keywords: Fintech; IPO; Underpricing (search for similar items in EconPapers)
JEL-codes: G24 Q55 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:44:y:2022:i:c:s1544612321001525

DOI: 10.1016/j.frl.2021.102071

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