The signaling hypothesis suggests that firms have incentives to underprice their initial public offerings (IPOs) to … empirical evidence on the signaling hypothesis was weak, Francis et al. (2010) show that foreign firms from segmented (rather … players. Hence, the attractiveness of the signaling strategy seems to be related to the a priori level of information …

traditional investors. The analysis is performed within a two-period, two-state signaling model with information asymmetry between …

We study the relevance of signaling and marketing as explanations for the discount control mechanisms that a closed …