established by the structuring agent. On the other hand, underpricing is an indirect cost for the company, as, part of the offer … underpricing event. Noteworthy among the determinants are the reputations of the underwriter and share issuer, the presence of …

price discovery using underpricing analysis. The study is based on sample of 1110 IPOs which comprises 526 SME IPOs and 584 … analysis suggests that SME IPOs are more efficient in terms of underpricing. Further, the demand levels in case of SMEIPOs are …

We study the impact of country-level accounting conservatism on international IPO underpricing. Examining 13,285 IPOs … conservatism. The link between conservatism and underpricing is robust to alternative measures of conservatism, country mean … underpricing by mitigating the impact of information asymmetries, we find that higher country-level conservatism is associated with …

negative effect on underpricing …

The larger underpricing (15 percent) in the early years following the inauguration of Borsa Istanbul indicates the … markets. The underpricing in recent years (from 2010 to 2020) averages 5 percent. Micro-level uncertainties about the firm as … evidenced by the smaller underpricing in IPOs marketed using fixed offer prices, and the IPOs where underwriters signed on for …

We investigate the level of underpricing and the long-term stock market performance of financial exchange initial … stock exchange IPO underpricing is positively related to the firm's long-run stock returns. We argue, among others, that the … cost of leaving too much money on the table. Interestingly, both underpricing and long-run returns of stock exchange IPOs …

We document that global board reforms are associated with a significant reduction in IPO underpricing. The effect is …. Furthermore, global board reforms have led to an improvement in the long-term market performance, proceeds, and subscription level …

We study the short-run and long-run performance of Chinese privatization initial public offerings (PIPOs), using data … explain the long-run supernormal performance of Chinese PIPOs, and find that government ownership, the offering size and the … feature of belonging to a high-tech industry are the main determinants of the long-run performance. In addition, firms that …

This study examines the impact of underwriter reputation on IPO underpricing and long-run performance in the China … managed by each underwriter. We find that underwriter reputation does not affect the level of underpricing, but that the level …