Acconcia, Antonio; Monte, Alfredo Del; Pennacchio, Luca - Centro Studi di Economia e Finanza (CSEF) - 2011
offerings (IPOs) and the distance of the issuing firm from the financial centre of a country: for France, Germany and Italy, the … higher the distance, the higher the level of underpricing. Under the maintained assumption that headquarters of institutional … uncertainty regarding the value per share of an issuing firm increases with the firm’s physical distance from the underwriter. As …