Pricing of an Initial public offering (IPO) is a complex phenomenon. Price anomalies are commonly observed in IPO …

This study utilizes prospectuses and supplementary valuation reports to investigate the relationship between … underwriters' valuation and underpricing in 113 firms going public on Borsa Istanbul. It argues that underwriter discretion in the … valuation is crucial to underpricing in the Turkish market, where fixed price is the dominant method of offering and retail …

This article examines the factors that determine IPO success in raising equity capital, and how this success translates … pre-IPO profitability is a strong and positive signal for investors that translates into a higher offer price and … therefore determines the success of the issuance. However, companies with high IPO success do not provide investors with better …