Date of Submission
Campus Only Senior Thesis
Bachelor of Arts
© 2020 Vikramaditya Jhunjhunwala
I examine how changes in retail investor sentiment affect initial public offerings (IPOs) over time. My empirical model makes use of a novel proxy for retail investor sentiment, defined by a bull- bear spread generated through analyzing the frequency of selected search queries on Google Search. Contrary to investor sentiment-based IPO timing theory, I hypothesize that optimistic investor sentiments are not positively related to periods of high IPO activity. Alternatively, I find venture capital deal volume and stock market performance to be significant positively related predictors of IPO volume.
Jhunjhunwala, Vikramaditya, "Okay Google, When Should We Go Public: Can Google Trends Predict IPOs?" (2020). CMC Senior Theses. 2415.
This thesis is restricted to the Claremont Colleges current faculty, students, and staff.