Coakley, Jerry; Hadass, Leon; Wood, Andrew - In: The European Journal of Finance 15 (2009) 4, pp. 421-435
We analyze the nature and causes of short-run underpricing for a unique sample of 591 Initial Public Offers (IPOs) issued on the London Stock Exchange for the period 1985-2003. We find significant differences between the 1998-2000 bubble years and the rest of the sample. Venture capitalists and...