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 …

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 …

upon lockup expiration. We argue that this was not a coincidence. Underwriters benefited from underpricing vis …

underpricing among countries, we use variance ratios to prove that the empirical evidence in Taiwan and Hong Kong is not …

exhibit underpricing; such studies have also attempted to identify the reasons for this underpricing phenomenon. Utilizing … research and development (R&D) can be important factors that influence IPO underpricing. However, these studies have not … demonstrated how venture capital might function as a moderating force between R&D investment and the underpricing of IPOs. This …

accept a lower price for the sale of its shares, i.e. tolerate higher underpricing. We test these hypotheses by considering … of the shareholders and relate them to both the probability of the IPO and the underpricing. We show that companies held … by less diversified shareholders are more likely to go public and suffer a higher underpricing. We show that, as …

an ideal environment to test numerous underpricing models by simultaneously measuring the effects of allocation … in lower underpricing. This favors models that highlight the importance of the underwriting function on underpricing, and …

-established firms and those signaling an ongoing commitment to the business. And while evidence of general IPO underpricing is …