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 … that the transition related determinants of underpricing disappear as the securities market becomes more mature. …

In this article, we evaluate underpricing of initial public offerings (IPOs) at the Berlin Stock Exchange between 1870 … during the speculative period of the early 1870s. Moreover, standard underpricing theories based on asymmetric information …, signalling mechanisms, or litigation risk cannot explain underpricing. In contrast to modern markets, the past market return had …

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. …

underpricing of IPOs has existed, but has significantly decreased over time in our sample. Employing a mixture of distributions …

study extends the existing literature concentrating on the degree of underpricing over a 3-month period lasting from the … listing date to the 3-month anniversary showing significant evidence of IPO underpricing. The analyses support the investors … explanatory variables of IPO underpricing. The study finds that the aftermarket risk level of the IPO, the oversubscription ratio …