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...

The effect of uncertainty on IPO underpricing, short-term performance after IPO, and hot-and-cold-IPO market cycles have received a great deal of attention in the literature. This study revisits these issues of IPO activities under the Covid-19 pandemic with a focus on the Turkish IPO market....