This paper focuses on the underpricing and the short- and long-run performance of Finnish initial public offerings …

codes by Member States of the European Union (EU) have affected IPO underpricing on Member State-regulated markets, where … underpricing declined on Member State-regulated markets after Member States adopted corporate governance codes containing SOX …-like provisions. We do not find a similar reduction in IPO underpricing on exchange-regulated markets. Our results are robust to …

underpricing in IPOs through the use of a structural approach mode. The outcome is a proxy value that replicates investors …' flipping behavior. When tested empirically, the model predicts that on average 25% of underpricing exists to protect long …

underpricing in their firms’ Initial Public Offerings (IPOs) by, for example, choosing highly reputable investment bankers as … underwriters. We argue that entrepreneurs can, and will, minimize underpricing, but that they will do so only to an extent that is … States: entrepreneurs will minimize underpricing until their marginal wealth losses equal the marginal cost of reducing …

conflicts and thus underpricing (Baron (1982); Biais, Bossaerts, and Rochet (2002)). Consistent with this prediction, we show … lower initial returns, after controlling for other influences on underpricing and a variety of endogeneity concerns. These …

We estimate the structural links between IPO allocations, pre-market information production, and initial underpricing …

underpricing. After controlling for these changes, there appears to be little special about the 1999-2000 period, aside from the …

Mauritius (SEM). The results show that the hot issues exhibit, on average, a greater degree of underpricing than the cold issues …, although the hot issue phenomenon is not a significant driving force in explaining this short-run underpricing. The results are …