Cizmovic, Mirjana; Lakicevic, Milan; Vulanovic, Milos - In: Montenegrin Journal of Economics 9 (2013) 1, pp. 45-52
Unit initial offerings are innovative way to finance corporate activities in capital markets and are usually conducted by companies that carry a high level of asymmetry information. The degree of information asymmetry insignificantly impacts the pricing at the IPO day in our sample. In addition...