Aaij, Sybren; Brounen, Dirk - In: Journal of Applied Corporate Finance 15 (2002) 1, pp. 87-94
The typical price behavior of an initial public offering (IPO), consisting of a price upsurge on the first trading day followed by subpar performance in the (longer-run) after-market, is one of the most intriguing puzzles in corporate finance. This study focuses on high-tech IPOs in Europe and...