Table of Contents
LIST OF TABLES/CHARTS ……………………………………………………………… 6
ACKNOWLEDGEMENTS …………………………………………………………………. 8
ABSTRACT ………………………………………………………………………………………. 9
CHAPTER 1: INTRODUCTION …………………………………………………………. 10
CHAPTER 2: LITERATURE REVIEW ……………………………………………….. 12
2.1 Initial Public Offering Description and Purpose ………………………. 12
2.2 Under-Pricing and “Money left on the table” ………………………….. 13
2.3 LinkedIn: Company Background and IPO reaction ………………….. 15
2.4 Facebook: Company Background and IPO reaction …………………. 18
2.5 Twitter: Company Background and IPO reaction …………………….. 24
2.6 GoPro: Company Background and IPO reaction ……………………… 28
2.7 Alibaba: Company Background and IPO reaction ……………………. 31
2.8 Box Inc: Company Background and IPO reaction ……………………. 37
2.9 Summary …………………………………………………………………………….. 41
CHAPTER 3: RESEARCH METHODOLOGY …………………………………….. 42
3.1 Introduction…………………………………………………………………………. 42
3.2 Research Questions………………………………………………………………. 42
3.3 Proposed Methodology …………………………………………………………. 43
3.4 Research Philosophy…………………………………………………………….. 43
3.5 Research Approach ………………………………………………………………. 46
3.6 Research Strategy ………………………………………………………………… 47
3.7 Research Choice ………………………………………………………………….. 48
3.8 Time Horizon ………………………………………………………………………. 49
3.9 Data Collection Method………………………………………………………… 50
3.10 Sampling Selection …………………………………………………………….. 50
3.11 Research Ethics………………………………………………………………….. 52
3.12 Research Limitations ………………………………………………………….. 52
CHAPTER 4: DATA ANALYSIS, ………………………………………………………. 53
4.1 Introduction…………………………………………………………………………. 53
4.2 LinkedIn: Post IPO Share Price Analysis ………………………………… 53
4.3 LinkedIn: Market Comparison Analysis …………………………………. 63
4.4 LinkedIn: Summary ……………………………………………………………… 65
4.5 Facebook: Post IPO Share Price Analysis ……………………………….. 66
4.6 Facebook: Market Comparison Analysis ………………………………… 74
4.7 Facebook: Summary …………………………………………………………….. 74
4.8 Twitter: Post IPO Share Price Analysis…………………………………… 76
4.9 Twitter: Market Comparison Analysis ……………………………………. 80
4.10 Twitter: Summary ………………………………………………………………. 83
4.11 GoPro: Post IPO Share Price Analysis ………………………………….. 84
4.12 GoPro: Market Comparison Analysis …………………………………… 88
4.13 GoPro: Summary ……………………………………………………………….. 88
4.14 Alibaba: Post IPO Share Price Analysis ………………………………… 89
4.15 Alibaba: Market Comparison Analysis …………………………………. 91
4.16 Alibaba: Summary ……………………………………………………………… 91
4.17 Box: Post IPO Share Price Analysis ……………………………………… 93
4.18 Box: Market Comparison Analysis ………………………………………. 93
4.19 Box: Summary …………………………………………………………………… 93
4.20 Comparison of all Companies ……………………………………………… 96
CHAPTER 5: CONCLUSIONS …………………………………………………………… 106
CHAPTER 6: RECOMMENDATIONS FOR FUTURE RESEARCH …….. 110
CHAPTER 7: REFLECTIONS ON LEARNING ………………………………….. 111
BIBLIOGRAPHY ………………………………………………………………………………. 116
