Lin, Tsai-Yin; Yu, Jerry; Lin, Chia-Yi - In: Journal of risk and financial management : JRFM 14 (2021) 3, pp. 1-16
One of the IPO-related anomalies that have been well-discussed in the finance literature is the IPO's long … the relative importance of these two explanations to the IPO's long-run underperformance. Our results show that although … both hot market and earnings management play a role in explaining IPO's long-run performance in their own rights, earnings …