The signaling hypothesis suggests that firms have incentives to underprice their initial public offerings (IPOs) to … to an established market. Using a sample of 158 Polish IPOs from 2005 - 2009, we show that firms that underprice their … IPOs are more likely (i) to issue seasoned equity, (ii) to issue a larger portion of equity at the SEO, and (iii) to make …

management no longer exhibits significant explanatory power when the IPOs are issued in the cold market. While the IPOs that are … information asymmetry is more severe in hot market condition, IPOs issued in hot market tend to exhibit poorer returns than those …

, as well as stay updated with the number and value of globally realised IPOs. The aim of the paper is to use the … comprehensive analysis of IPOs realisation process in order to point out the importance of going public, having in mind both the …

during 2001-2008 period. In addition, this research also examined the causes of underpricing IPOs of financial institution … abnormal return as a measure.This research found that IPOs are significantly underpriced at the first day of trading. Financial … institutions sector's IPOs are less underpriced than non-financial institutions sectors. This findings means that financial …

The theoretical literature on Initial Public Offerings (IPOs) strongly argues for the theory of ‘Information Asymmetry … capitalize from their investments in IPOs. If sophisticated investors possess an informational advantage over unsophisticated … investors, they are supposed to identify the strength and quality of firms issuing IPOs. Consistent with this conjecture, we …

encourage IPOs by use of a larger tick size are likely to be counterproductive …