Wahid, Abdul; Mumtaz, Muhammad Zubair; Mantell, Edmund H. - In: Estudios de Economía 47 (2020) 2, pp. 245-271
history of publicly disclosed financial information. Consequently, valuing IPOs in any market is more difficult than valuing … seasoned equities. In this paper, we address the valuation of IPOs in the Alternative Investment Market, (hereafter the AIM … statistical sample consists of 2,185 IPOs issued on the AIM between 1995 and 2020. Our findings suggest that the market valuation …