Ekkayokkaya, Manapol; Pengniti, Tulaya - In: Journal of Corporate Finance 18 (2012) 2, pp. 238-253
Underpricing of IPOs in Thailand significantly drops following the country's major governance reform, indicating less price-protection by investors. The lower price-protection is associated with fewer instances of absolute control retention by pre-issue insiders during the post-reform period,...