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The Initial Public Offerings of Foreign Companies in U.S.

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Title: The Initial Public Offerings of Foreign Companies in U.S.
Authors: Shao, Jun
Advisor: Chua, Lena
Issue Date: 26 Sep 2014
Publisher: University of Hawaii at Manoa
Abstract: In this paper, I examine the initial public offerings (IPOs) of foreign companies in U.S.. The paper is divided into two parts. In part I, I discuss why foreign companies seek listings in the United States (U.S.) stock markets, the regulations and requirements for their listings, and the costs involved. I also take a close look at the listings of Canadian companies in the U.S. markets. In part II, a sample of 108 foreign companies' IPOs in the U.S. during the 1977- 1988 period is analyzed. The underpricing of these IPOs is examined and compared to that of U.S. companies' IPOs. In addition, I set up a multiple regression model to test the relationship between the initial returns on these foreign new issues and different variables which proxy for ex ante uncertainty. The results of this study can provide investors some insights on the performance of foreign companies' IPOs.
Pages/Duration: 41 pages
Rights: All UHM Honors Projects are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission from the copyright owner.
Appears in Collections:Honors Projects for Finance

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