{"title":"Looking back for future directions: a literature review analysis of investors’ demand for IPOs","authors":"Waqas Mehmood, Rasidah Mohd-Rashid, Ruzita Abdul-Rahim, Attia Aman-Ullah","doi":"10.1108/emjb-01-2024-0023","DOIUrl":null,"url":null,"abstract":"<h3>Purpose</h3>\n<p>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.</p><!--/ Abstract__block -->\n<h3>Design/methodology/approach</h3>\n<p>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.</p><!--/ Abstract__block -->\n<h3>Findings</h3>\n<p>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.</p><!--/ Abstract__block -->\n<h3>Originality/value</h3>\n<p>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.</p><!--/ Abstract__block -->","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":"12 1","pages":""},"PeriodicalIF":3.8000,"publicationDate":"2024-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"EuroMed Journal of Business","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/emjb-01-2024-0023","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS","Score":null,"Total":0}
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.
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.