Hearn, Bruce - In: Journal of Multinational Financial Management 24 (2014) C, pp. 19-42
This paper examines the determinants of IPO underpricing in a unique and comprehensive, sample of 86 IPO firms from across North Africa between 2000 and 2013. The findings suggest that, underpricing is used as a mechanism by which to stimulate excess demand (subscription) for newly, issued stock...