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Do differences in institutional and legal environments explain cross-country variations in IPO underpricing?

Hopp, Christian (contributor); Dreher, Axel (contributor) - 2007

We empirically analyze the determinants of Initial Public Offering (IPO) underpricing using panel data for 29 countries over the period 1988-2005. Our hypotheses stress the importance of institutional and legal factors in explaining cross-country variations. We find that increased protection of...