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Factors Affecting the Difference Between Stock and Right Price

Zendehdel, Mohammad Sajad | 2023

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  1. Type of Document: M.Sc. Thesis
  2. Language: Farsi
  3. Document No: 58183 (44)
  4. University: Sharif University of Technology
  5. Department: Management and Economics
  6. Advisor(s): Ebrahimnejad, Ali
  7. Abstract:
  8. This study investigates the determinants of the price difference between stock prices and their corresponding right offers on the Tehran Stock Exchange (1389- 1401). Employing panel regression analysis, we identify critical factors that influence this price differential. Notably, stock illiquidity emerges as a signif- icant driver of overpricing in right offers. Our findings have implications for policymakers seeking to enhance market efficiency, wealth management firms designing trading strategies, and firms considering secondary equity offerings. This research offers insights into Iranian financial markets, highlighting the im- portance of liquidity variables and their role in pricing dynamics, ultimately guiding informed decision-making
  9. Keywords:
  10. Underpricing ; Liquidity ; Seasoned Equity Offering (SEO) ; Stock Price ; Tehran Stock Exchange

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