We analyze a sample of dual and single class IPOs to investigate whether empirical estimates of underpricing determinants are consistent across alternative measures of firm size and alternative techniques intended to account for underwriter price stabilization efforts. We find that results from...

This study examines the impact of country-level earnings quality on IPO underpricing. Examining 10,783 IPOs from 37 countries, we find that IPOs are underpriced less in countries where public firms produce higher quality earnings information. This finding persists after controlling for other...

That a link exists between a country's legal system and the size, liquidity, and value of its capital markets is well established. We study how differences in country-level governance impact the underpricing of initial public offerings (IPOs). Examining 4,462 IPOs across 29 countries from...