Low, Soo-Wah; Yong, Othman - In: American Journal of Finance and Accounting 3 (2013) 1, pp. 41-56
-day price spread. For the entire sample and for the hot issues, we find that IPOs that are highly underpriced, small in offering … disagreement is likely to create significant trading volume and result in large price spread. For cold IPOs, the results show that … IPOs listed on the MESDAQ market induce high divergence of opinions among investors. It is also shown that initial return …