study extends the existing literature concentrating on the degree of underpricing over a 3-month period lasting from the … listing date to the 3-month anniversary showing significant evidence of IPO underpricing. The analyses support the investors … explanatory variables of IPO underpricing. The study finds that the aftermarket risk level of the IPO, the oversubscription ratio …

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 investigate the level of underpricing and the long-term stock market performance of financial exchange initial …