首次公开发行
偏爱
透视图(图形)
人事变更率
情感(语言学)
货币经济学
业务
心理学
经济
微观经济学
管理
沟通
人工智能
计算机科学
标识
DOI:10.1080/13504851.2023.2210812
摘要
Retail investors’ gambling preferences can affect the performance and turnover of IPO firms. Research on the relationship between IPO underperformance and turnover from the gambling preference perspective is very limited. Empirical results on gambling preferences show that it leads to the underperformance of IPO firms. IPO underperformance disappears after controlling for gambling preferences or turnover. For stocks with low gambling preferences, IPO underperformance and the turnover effect are almost negligible. They become significantly stronger as gambling preferences increase. It illustrates that turnover’s impact on IPO underperformance essentially comes from gambling preferences.
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