insight into how this market event occurs. The study aims at establishing if initial public offer underpricing exists in the … Nigerian market and how these IPOs perform when it goes into the market. Based on the empirical findings, the study aims at … pricing of initial public offerings (IPOs) using price variation over time. In a sample of 950 firms IPOs from 2003 to 2010 …

, credibility of underwriting, equivalently reputation of underwriters cannot be unambiguously inferred from underpricing levels …Suppose IPO underpricing increases with underwriters' reputation. This study demonstrates higher underpricing is … compatible with higher credibility of underwriting by reputable underwriters. Consistent with stated inference, increase in …

The academic literature on IPOs short run performance grown quite rapidly over the last decade, due to its puzzling …