Kutsuna, Kenji; Dimovski, William; Brooks, Robert - Graduate School of Business Administration, Kobe University - 2007
This study investigates 40 Japanese REIT IPOs during 2001 to 2006 and finds evidence that higher final offer prices are reflected in higher underpricing levels by such IPOs. There is also some evidence that suggests the engagement of one of the big 3 Japanese underwriting firms suggests less...