Low, Soo-Wah; Yong, Othman - In: American Journal of Finance and Accounting 3 (2013) 1, pp. 41-56
We examine IPO underpricing, offer size, over-subscription ratio, and listing board, in relation to investors' heterogeneous beliefs. Since investors' beliefs are not directly observable, our proxies for investor heterogeneity are specifically tied to variables that reflect investors' behaviour...