Recent evidence from U.S. markets shows that IPO underpricing is associated with high liquidity for issuing firms. One … explanation given for this link is that IPO firms simultaneously decide on share retention and underpricing to maximize … support the argument that IPO firms use underpricing as a tool to make up the reduction in liquidity caused by higher share …

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 …

upon lockup expiration. We argue that this was not a coincidence. Underwriters benefited from underpricing vis …

exhibit underpricing; such studies have also attempted to identify the reasons for this underpricing phenomenon. Utilizing … research and development (R&D) can be important factors that influence IPO underpricing. However, these studies have not … demonstrated how venture capital might function as a moderating force between R&D investment and the underpricing of IPOs. This …

hypotheses of underpricing and price support. We examine two different periods, 1975–1984 and 1996–2002, and find that in each … case the measures of price support and underpricing are substantially affected by the initial public offerings' beginning …

This article analyses the impact of the participation of venture capital (VC) firms on underpricing in 372 businesses … of variables which may affect the extent of underpricing. These include uncertainty inducing factors such as the age … contemporaneous IPOs, underpricing trends and market price movements. Finally in addition to allowing for the impact of underwriting …