Adjasi, Charles K.D.; Osei, Kofi A.; Fiawoyife, Eme U. - In: Research in International Business and Finance 25 (2011) 3, pp. 255-265
The paper provides empirical analyses of IPO underpricing on the Nigerian Stock Exchange, from the period 1990 to 2006. The results indicate an average abnormal initial day returns of 43.1%. There is evidence of long-run underperformance of 0.6%. Results from our regression model explaining...
