This study examines the causal relationship between stock returns and trading volume and the level of association of information asymmetry with stock return volatility and volume relationship of Pakistan at market level and firm level for the period of July 1998 to December 2008. The results...

Background: When a privately owned firm or privatized government entity raises capital by selling its stocks for the first time to general public, is known as initial public offering (IPO). The underpricing phenomenon and ownership structure are important characteristics of IPO process that...