Are IPOs Priced Differently Based Upon Gender?  

Oleh:

Mohan, Nancy J. ; Chen, Carl R.

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Journal of Behavioral Finance vol. 5 no. 1 (2004), page 57–65.
Fulltext: JJ137_2004_05-01_Mohan.pdf (100.91KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ137 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

Differences between male and female management style, risk aversion, investment strategies, and financial decision making can be found in economic, management, psy chology, and social literature. There are no published studies, however, linking gender issues with valuation. In this article, we consider differences in pricing female- versus male-led initial public offerings. Specifically, we find no difference in firm characteris tics between a female-led and a male-led IPO, and no difference in underpricing be tween male-led and female-led IPOs after controlling for firm-specific variables. Our evidence suggests that in a market such as IPOs, where subjects share more similar op portunity sets, wealth, and knowledge, gender bias does not exist.

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