Sundarasen, Sheela; Goel, Sanjay; Zulaini, Fairuz Ahmad - In: Managerial Finance 43 (2017) 7, pp. 738-760
Purpose Managers may underprice initial public offerings (IPOs), leading to higher initial returns (IRs). The purpose of this paper is multi-fold: to compensate investors for risk, to reduce litigation risk, as well as to maintain control over the firm. The authors examine country-level...