The recent evidence has shown that IPO uncertainty continues in aftermarket until a normal market is established. Evidence also indicates that aftermarket risk measured by stock's beta is related to the degree of underpricing in the US market. This may imply that additional underpricing may be...

This paper investigates the efficiency of the New Zealand and the Hongkong Index and Index Futures markets. A cointegration and error correction based approach is used to test the efficiency of the markets. The data for the study consists of the spot and futures prices for the NZSE40 andthe...

This paper analyses the performance of all IPOs in the Malaysian stock market between 1995 to October 1997. The effects of underpricing are examined based on the two trading boards, the main and second board. This study extends the analysis by examining the IPOs performance by the size of...