Asymmetric information within Initial Public Offerings

Asymetrická informace při primárních emisích akcií

Monika Janičíková

Český finanční a účetní časopis, 2014, vol. 2014, issue 2, 81-91

Abstract: Asymmetric information is a part of market failure. It leads to market imperfections and inefficiency of economic markets. We can meet serious asymmetric information in initial public offerings when companies go public. In IPO process, better-informed party can take an advantage considering new potential investors. Asymmetric information could be identified in IPO timing decisions and we can analyze it by effects on underpricing and underperformance factors. This study deals with asymmetric information's influence on IPO timing, signaling in IPO and underperformance of IPO.

Keywords: Asymmetric Information; Underpricing; Long-run Underperformance; Informační asymetrie; Podhodnocení emisního kurzu; Dlouhodobě nižší výkonnost (search for similar items in EconPapers)
JEL-codes: G32 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.18267/j.cfuc.396

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