Paleari, Stefano; Vismara, Silvio - In: Managerial Finance 33 (2007), pp. 352-367
Purpose -The purpose of this paper is to contribute to the literature on the valuation of initial public offerings (IPOs). In particular, it tests the presence of over-optimism when pricing IPOs on the Italian Nuovo Mercato. Design/methodology/approach -The paper investigates whether the...