This paper investigates the determinants of underpricing at initial public offerings in theHungarian Initial Public … discount at privatization IPOs than at private issues, and a positive relation between underpricing and the proportion of … political objectives by selling shares at discount. Besides, the results show larger initial returns at early IPOs compared to …

To resolve the IPO underpricing puzzle it is essential to analyze who knows what when during the issuing process. In … midpoint of the bookbuilding range and the offer price. The pre-issue prices explain a large part of the underpricing left … underpricing suggests. …

from auction alternatives in recent years, despite significantly lower costs in both direct fees and initial underpricing …

This paper offers a review and discussion of the evidence concerning the underpricing and long run performance of … that underpricing was not followed by underperformance, as is usually observed with IPOs, but rather strong outperformance … main driving force between abnormal returns of British PIPOs. …

positive market reaction which contrasts to the significant negative abnormal returns reported for the U.S. We provide evidence …

underpricing at SIP-time. We find that poor perfirmance and financing constraints, reflected by a low profitability and high … substantial subsidies. By contrast, stock market returns pre-SIP and variables capturing the firm's growth opportunities do not … relinquish its majority stake at SIP-time. The detfirminants of underpricing further illustrate the uniqueness of SIPs compared …

, but decrease the underpricing because of reduced asymmetric information. Our main results corroborate these hypotheses … underpricing of 6 pp, which is related to a reduced offer price adjustment. This supports our hypothesis that SOX represents a …

contributes to the underpricing literature by focusing on the complementary or rather competing role of venture capitalists and …/or underwritten by a top bank are expected to show less underpricing at the initial public offering (IPO) due to a reduced ex …

The phenomenon of initial public offering (IPO) underpricing has been extensively researched in the literature, however …, the underpricing of family firms has received little attention. This is even more prevalent when it comes to underpricing … of family firms in an emerging market such as the Saudi Arabian market. This study explores the IPO underpricing …