Deliberate premarket underpricing and aftermarket mispricing: New insights on IPO pricing
نویسندگان
چکیده
منابع مشابه
Investment Banks' Entry into New IPO Markets and IPO Underpricing
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This paper examines how the difference in institutional environments constitutes differential IPO underpricing across countries. Using the Heritage Foundation’s Index of Economic Freedom (IEF) as a proxy for the heterogeneous institutional environment, and a sample of 3728 IPOs from 22 countries and regions over the period 1993–2014, we find that countries with higher economic freedom have sign...
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ژورنال
عنوان ژورنال: International Review of Financial Analysis
سال: 2016
ISSN: 1057-5219
DOI: 10.1016/j.irfa.2015.11.007