Mumtaz, Muhammad Zubair; Smith, Zachary A. - In: Borsa Istanbul Review 21 (2021) 4, pp. 405-417
This study investigates the cycles that IPO issuance produce in Pakistan and the US. We did not find evidence of a lead-lag relationship between IPO volume and initial returns in Pakistan; however, this evidence holds for the US IPOs. Another important finding is that Pakistani and US IPOs are...