Ulf Nielsson receives DKK 1.37 mill. grant from The Danish Council for Independent Research

Assistant professor Ulf Nielsson receives kr. 1.37 mill. grant from The Danish Council for Independent Research to study the underpricing of new stock issues using geographical data. Specifically, as tacit (face-to-face) information is not well suited to travel long physical distances, the project will examine whether underpricing of new stock issues is a response to information asymmetries between issuers and investors, by using geographical location and physical distances to proxy for the (lack of) tacit information that is incorporated into stock prices.