2008Cai-jing yanjiuRequires access

Investors Behavior on the First Days of IPO Trading

Lu Rong

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Abstract

Different from other domestic researches which take stock prices as objects to disclose the characteristics of IPO stocks,our paper focuses on the behaviors of investors to study whether there are some differences between individual and institutional investors on the first several days' trading of IPO stocks.We construct logistic regression models using the Shanghai and Shenzhen stock markets investors' account data of IPO stocks of 2002 to compare the judging ability and benefiting mode of individual and institutional investors.

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What this paper is about

Different from other domestic researches which take stock prices as objects to disclose the characteristics of IPO stocks,our paper focuses on the behaviors of investors to study whether there are some differences between individual and institutional investors on the first several days' trading of IPO stocks.We construct logistic regression models using the Shanghai and Shenzhen stock markets investors' account data of IPO stocks of 2002 to compare the judging ability and benefiting mode of individual and institutional investors.

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Available abstract

Different from other domestic researches which take stock prices as objects to disclose the characteristics of IPO stocks,our paper focuses on the behaviors of investors to study whether there are some differences between individual and institutional investors on the first several days' trading of IPO stocks.We construct logistic regression models using the Shanghai and Shenzhen stock markets investors' account data of IPO stocks of 2002 to compare the judging ability and benefiting mode of individual and institutional investors.

Key concepts: Initial public offering, Business, Stock (firearms), Institutional investor, Logistic regression, Construct (python library), Monetary economics, Financial economics

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