Using data from Indian IPOs issued in a mechanism which is far more transparent than the bookbuilding in the US and in most other markets, the paper examines retail investors' participation, their influence on IPO pricing and the returns they make on IPO investment. The transparency in the...

We use the presence of a Wikipedia article for initial public offering (IPO) firms to test theories of information asymmetry and investor awareness. While we find limited support for the former, our results provide strong support for theories of investor awareness. Specifically, IPO firms with a...

This paper reexamines the driving forces for the 1st day initial return for ChiNext IPOs. We start from screening 29 potential explanatory variables, 4 policy break dummies and 2 intraday trading suspension dummies, using an OLS model with dimension reduction techniques to identify significant...