Looking back for future directions: a literature review analysis of investors’ demand for IPOs

IF 3.8 Q2 BUSINESS
Waqas Mehmood, Rasidah Mohd-Rashid, Ruzita Abdul-Rahim, Attia Aman-Ullah
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引用次数: 0

Abstract

Purpose

A critical factor to the success of IPOs is investor demand, which can be observed from the IPO subscription pattern. Therefore, the objective of this study is to review the studies on the demand of IPOs, including empirical and theoretical literature, due to the substantial growth of IPOs over the last two decades.

Design/methodology/approach

This study extracted secondary data regarding IPO demand published from 1988 to 2022 from the Scopus database. We conducted a meta-literature review for qualitative and quantitative methods on the resulting 284 articles using citation analysis (Harzing’s Publish or Perish and VOS viewer software) and content analysis.

Findings

The findings revealed significant elements of the literature, including countries, institutions, journals, authors, articles and topics. Based on the IPO literature review and analyses, this paper developed future research questions to facilitate an extension of the research. Additionally, this paper developed a dual perspective of the present state of IPO research. First, it asserts that the demand for IPOs is not limited to certain countries, jurisdictions or vintages. Second, there are very few studies on demand for IPOs available despite IPOs’ economic worth.

Originality/value

To the best of the authors’ knowledge, this is the first study of its kind to present an empirical evaluation of demand for IPOs using inclusive mapping.

回顾过去,展望未来:投资者对 IPO 需求的文献综述分析
目的 IPO 成功的关键因素是投资者的需求,这可以从 IPO 的认购模式中观察到。因此,本研究的目的是回顾有关 IPO 需求的研究,包括实证文献和理论文献,因为 IPO 在过去 20 年中有了大幅增长。设计/方法/途径本研究从 Scopus 数据库中提取了 1988 年至 2022 年发表的有关 IPO 需求的二手数据。我们使用引文分析(Harzing's Publish or Perish 和 VOS viewer 软件)和内容分析对所获得的 284 篇文章进行了定性和定量方法的元文献综述。研究结果研究结果揭示了文献中的重要元素,包括国家、机构、期刊、作者、文章和主题。在 IPO 文献综述和分析的基础上,本文提出了未来的研究问题,以促进研究的扩展。此外,本文对 IPO 研究现状提出了双重观点。首先,本文认为对 IPO 的需求并不局限于某些国家、司法管辖区或年份。其次,尽管首次公开发行股票具有经济价值,但有关首次公开发行股票需求的研究却寥寥无几。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
9.80
自引率
19.20%
发文量
61
期刊介绍: The EuroMed Journal of Business (EMJB) is the premier publication facilitating dialogue among researchers from Europe and the Mediterranean. It plays a vital role in generating and disseminating knowledge about various business environments and trends in this region. By offering an up-to-date overview of emerging business practices in specific countries, EMJB serves as a valuable resource for its readers. As the official journal of the EuroMed Academy of Business, EMJB is committed to reflecting the economic growth seen in the European-Mediterranean region. It aims to be a focused and targeted business journal, highlighting environmental opportunities, threats, and marketplace developments in the area. Through its efforts, EMJB promotes collaboration and open dialogue among diverse research cultures and practices. EMJB serves as a platform for debating and disseminating research findings, new research areas and techniques, conceptual developments, and practical applications across various business segments. It seeks to provide a forum for discussing new ideas in business, including theory, practice, and the issues that arise within the field.
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