NDLI: Analysis and forecasting of IPO underpricing

Content Provider	Springer Nature Link
Author	Esfahanipour, Akbar Goodarzi, Milad Jahanbin, Reza
Copyright Year	2015
Abstract	Probability of withdrawal is a feature of initial public offering (IPOs), which can be an important parameter in decisions of investors and issuers. Considering the probability of offering withdrawal facilitates more precise estimation of underpricing. In this paper, the effective factors on probability of IPO withdrawal and underpricing in Tehran Stock Exchange have been characterized using regression, and then neural network is applied to estimate the probability of IPO withdrawal and underpricing. To evaluate the performance of our applied method, fuzzy regression is employed and compared with neural network. According to the obtained empirical results, neural network demonstrates better accuracy than fuzzy regression. The results indicate that there is a meaningful relationship between underpricing and probability of withdrawal, and the probability of IPO withdrawal plays an important role in precise evaluation of underpricing.
Starting Page	651
Ending Page	658
Page Count	8
File Format	PDF
ISSN	09410643
Journal	Neural Computing and Applications
Volume Number	27
Issue Number	3
e-ISSN	14333058
Language	English
Publisher	Springer London
Publisher Date	2015-03-27
Publisher Place	London
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Initial Public Offering (IPO) Neural network Fuzzy regression IPO underpricing Probability of withdrawal Tehran Stock Exchange (TSE) Artificial Intelligence (incl. Robotics) Data Mining and Knowledge Discovery Probability and Statistics in Computer Science Computational Science and Engineering Image Processing and Computer Vision Computational Biology/Bioinformatics
Content Type	Text
Resource Type	Article
Subject	Artificial Intelligence Software

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