To find out whether the Australian IPOs are underpriced, this study investigates the short-run market performance of 254 IPOs by industry, listing year and issue year over the period 2006 to 2011.To measure the short-run performance, the first listing day returns are divided into the primary...

The short-run market performance of the initial public offerings (IPOs) indicates that the prices are often underpriced which is widely accepted as a universal phenomenon. To find out whether the Australian IPOs are underpriced, this paper analyses the short-run market performance of 254 IPOs by...

To determine whether Australian initial public offerings (IPOs) underprice in the short run, and to identify their determinants, this study investigated the short-run market performance of 254 IPOs listed during 2006 to 2011 by industry and year (listing and issue). To measure their short-run...