(IPOs), both at the level of initial underpricing and at the level of 1-, 3- and 5-year performance. Our results represent a … anomaly that occurs on the first day of IPO listing, i.e., underpricing, whereas this study is more ambitious; it considers … the institutional effect on both underpricing and the long-term performance of the IPOs considered, which makes it …

Concerns about the negative consequences of the excessive underpricing of the current arrangement in the initial public … discovery and the cost of underpricing. The main aim of this paper was to gain new scientific knowledge about this trade-off by … investors to reliably contribute to price discovery. The resulting underpricing (and its variability) of these auctions is …

information asymmetry is more severe in hot market condition, IPOs issued in hot market tend to exhibit poorer returns than those …

as well as banks' desire to hold more capital. The SEO announcement period abnormal stock-returns reached the lowest … number around the economic crisis, as did the longer-run 6-month, post-SEO cumulative abnormal returns and buy …-and-hold abnormal returns. Examining the differences between banks, we found, in both univariate and multivariate regression results …

announcement period abnormal stock returns and on the longer-run post-issue abnormal returns. We use five different statistical … important explanatory factor in both short-term and long-term abnormal stock returns, but several other significant explanatory …

This paper investigates the clustering or dependency of extremes in financial returns by estimating the extremal index … dependency structure of financial returns data and the proprieties of the extremes returns. Moreover, understanding clustering of …