Mumtaz, Muhammad Zubair; Smith, Zachary A.; Ahmed, … - In: Estudios de economía 43 (2016) 1, pp. 71-95
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 …