Investors Behavior on the First Days of IPO Trading
Lu Rong
Abstract
Lu Rong
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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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