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2022 年 6 月 13 日教育部、科技部「高教深耕特色領域中心」臺大計量中心成果發表會線上講座系列 - IPO underpricing and disclosure on trade secrets

訊息標題:

2022 年 6 月 13 日教育部、科技部「高教深耕特色領域中心」臺大計量中心成果發表會線上講座系列 - IPO underpricing and disclosure on trade secrets

簡介摘要:

臺大計量中心執行教育部與科技部「高教深耕特色領域中心」專案計畫「國家整體發展的數據分析與評估」,包含4個子計畫、23個孫計畫,本系列為孫計畫成果發表線上講座之6;相關資訊如下:

 

【 6 月 13 日 「高教深耕特色領域中心」臺大計量中心成果發表會

日期:2022 年 6 月 13 日 (週一) 下午 14:00~15:30

地點:線上舉行

講者:王衍智教授 (臺大財務金融學系)

演講主題:IPO underpricing and disclosure on trade secrets

 

講題摘要:

臺大計量中心執行教育部與科技部「高教深耕特色領域中心」專案計畫「國家整體發展的數據分析與評估」,以下包含4個子計畫、23個孫計畫,本次成果講座為子計畫二之孫計畫五「初級資本市場管制放寬的影響」之研究成果,主題為「IPO underpricing and disclosure on trade secrets」,主講人為「王衍智 / 臺大財務金融學系教授」,演講綱要:This project aims to study the effect of Trade Secrets Protection on underpricing of initial public offerings (IPOs) in attempt to learn how disclosure of the IPO firm may affect their market valuation. While past IPO studies widely discuss the role of innovation activities on IPOs, all of them concentrate on R&D expenditures or patent-based innovation activities. Distinct from previous IPO papers, this study focuses on trade secrets protection, where trade secret is one of the most important but undisclosed intellectual property rights. Trade secrets protection generally stimulates innovation inputs and the increased intangibility results in greater information asymmetry and underpricing, especially for those with more R&D activities but without patent outputs and for those with trade secrets reported in the 10-K reports. Moreover, we conjecture that information asymmetry because of trade secrets could cause more mispricing in valuing the IPO firm, creating more severe post-IPO stock and operating performance.

 

講者介紹:

講者:王衍智為臺大財務金融學系教授、臺大計量中心「高教深耕特色領域中心」專案計畫共同主持人

 

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