underpricing in IPOs through the use of a structural approach mode. The outcome is a proxy value that replicates investors …' flipping behavior. When tested empirically, the model predicts that on average 25% of underpricing exists to protect long …

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 …