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다국어 초록 (Multilingual Abstract)

Purpose - The purpose of this paper is to examine the impact of holding period of IPOs on BHAR(CAR) of IPOs in IPO process, especially focused on business relationship of underwriters and institutional investors. Design/methodology/approach - This paper collected monthly IPO fund data in KOSDAQ during 2004 to 2012 and OLS(Ordinary Least Square) was hired to analyze the data. Findings - Underwriters do allocate IPOs with high BHAR(CAR) to business-related institutional investors holding IPOs longer to make the price of IPOs stable (market-making) for underewriters. Research implications or Originality - This paper finds the impact of holding period of IPOs on BHAR(CAR) of IPOs in IPO process, especially focused on business relationship of underwriters and institutional investors in Korea.

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목차 (Table of Contents)

Ⅰ. 서론 Ⅱ. 선행연구 Ⅲ. 실증자료와 변수설정 및 연구가설 Ⅳ. 실증분석 Ⅴ. 결론

Ⅰ. 서론 Ⅱ. 선행연구 Ⅲ. 실증자료와 변수설정 및 연구가설 Ⅳ. 실증분석 Ⅴ. 결론

참고문헌 (Reference)

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